FIIs net buy Rs 1100 cr in stock futures

Nifty BSE | NSE 13/02/12 Are Mutual Funds betting on Nifty? Other Stocks in this news IFCI | Jaiprakash Power Ventures | Nagarjuna Fertilisers and Chemicals | Reliance Natural Resources | Reliance Petroleum |

CNBC-TV18's research analyst, Anuj Singhal has given F&O highlights.

 

The FII net buy figure is quite interesting and that is because we saw the arbitrage position, which was created early on the series and that got unbound, the net buy Rs 1,100 crore in stock futures. When the series began we saw consistently stock futures net sell figures from FIIs and those were the arbitrage positions, which got cut. Nifty futures added about 20 lakh shares in open interest and that got compensated by the cut in stock futures where we saw a cut of about 2.2 crore shares so in value terms the futures OI didn't changed at all. All the action was in options as far as the Nifty was concerned.

 

Apart from that even in the individual stocks if you look at the headlines numbers it could be misleading so you have to segregate the action. If you look at the stock RPL which was up about 6% but from days high it was down about 10% and while futures added about 1.2 crore shares in OI. In the last hour of trade there was a cut of about 1 crore share because in one point in time the futures were adding more than 2 crore shares in the OI so there was huge amount of profit booking that took place in the last hour of trade.

 

RNRL was up about 8% here the CoC was down so the OI cut of 16% and there again you saw the trend where the longs were unwinding at the higher levels as the market was getting bit jittery.

 

Apart from that IFCI , Nagarjuna Fertilisers , JP Hydro these were the stocks where you saw similar trend stock prices were down, CoC was down and there was cut in futures OI and that was unwinding of some long positions.

 

The two stocks which got punished one of them was Bharti Airtel down about 7% OI went up by 20% and delivery volumes were high at 43 lakh shares or nearly 67%.