S Kumar sheds 7 lakhs shares in OI

CNBC-TV18 's research analyst Anichya has given F&O highlight: It is getting quieter even in the futures and options space not only in terms of stock movements but also in the turnover front. Remember in the last few trading sessions, we did clock in about Rs 18,000-19,000 crore around this time in turnover, today it is even slightly lower than that at about Rs 17,000 crore.

What is interesting is that turnover is getting more evenly distributed. It was at about 50-55% over the last few weeks and concentrated on the Nifty. Now it is about 40-45% of the contribution that is coming from the Nifty April series.

In the Nifty we have seen some semblance of short buildup, about 25 lakh shares and we have seen it inch into a bit of a discount. So, some of those hedges in the Nifty seem to be returning as we have been seeing the Nifty trade at about a 10-15 point discount over the last few trading sessions.

What is buzzing in the last half an hour or so is that we have seen sugar pick up a fair bit. Balrampur Chini is one such stock, 1.4 lakh is the open interest addition. It has gone into a bit of a premium in the cost of carry. Even Bajaj Hindusthan and Triveni Engineering are seeing some bit of action. Idea Cellular is another stock that has been pretty strong today and has added about 6 lakh shares in open interest and is up about Rs 3 in the spot market. S Kumars saw a pretty strong rally in yesterday’s trade, has seen some bit of unwinding and a bit of profit booking in today’s trading session. It has shed about 7 lakh shares in open interest. It is currently pretty flat in the spot market with some bit of profit booking in that stock.

L&T and in fact the entire capital goods space has seen a fair bit of short buildup ever since the rollovers from the March series. L&T after taking cues from BHEL yesterday has been driven up by some bit of short covering. That is why you are seeing unwinding a bit of open interest and is up about 2% in the spot market. SAIL continues its downward pressure, it is down about 2%, continues to add fresh shorts I think for the fourth or fifth day in a row, 13.9 lakh shares is the open interest addition. It is down in the spot market and shorts continue in this counter