RIL adds 17 lakh shares in open interest

CNBC-TV18s Head-Markets Research, Anuj Singhal:

I don’t think too many traders will take a call on based on today’s action because it was again as we kept saying all over the place, and towards the end one could see the OI came down and one saw Nifty futures at one time were adding quite a bit of a OI but that came down towards the end. Lot of positions have got squared off. The turnover was on the higher side nearly Rs 18,000 crore that’s a good 20-30% higher than what we saw in yesterday’s trade, which was on the higher side. So compared to last couple of weeks average we would be good 40-50% higher in terms of overall turnover.

NTPC was the stock of the day and infact today on the positive side for a change. Nearly 36 lakh shares was the OI cut that’s quite a bit of short covering and Rs 300 crore of turnover on that one.

Suzlon was also another one, which saw some short covering nearly 7.5 lakh shares was the OI cut. Power sector as a space had seen lot of shorts so some of them got covered in today’s trade.

ONGC of course was in a different orbit altogether, Rs 1,000 crore was turnover, 10 lakh shares OI build up.

Reliance was the weakest spot today infact one stock which dragged the markets and if it wasn’t for Reliance one would have seen even bigger gains nearly 17 lakh shares OI build up, so nearly 25% OI build up so some shorts over here.

Shree Renuka Sugars was one stock, which got pounded nearly 10% down with a build up of nearly 29 lakh shares.

From the non-index side the stock of the day was Reliance Capital nearly Rs 700 crore turnover the stock was up about 7% with a very good OI build up also.