F&O Check: Nifty 4900 Call adds 14 lk shares in OI

It was a bad day for the markets though in second half there was quite a bit of recovery reports CNBC-TV18's Anuj Singhal. The recovery was not entirely unexpected as the Dubai debt crisis fears were a bit overdone. Also, there was a general consensus that at around 4,800-4,850 for Nifty, one would have been seen some bargain buying, especially from the domestic institutional investors (DIIs) and that's what happened in today's trade.

Market Highlights

Nifty recovered about 130 points from the day's low of 4,806 and closed close to 4,950-mark. So overall a bad day but in context to what happened globally where you saw Asian markets down about 4% - one would take that. The only problem is that you had an expiry yesterday, which was bad, so there have been two successive days it's finished in the red now.

Advance decline was 1:4 but if one puts it in context, it was about 1:20 at about noon time So from thereon and there was quite a bit of recovery that we saw in the midcaps.

Suzlon was up 7.5% and rallied about 12% from day's low. Unitech was up 2.5% and rallied 10% from its low. We have seen record turnovers in the last two days - yesterday was all-time high volumes and today also for day one of a new series we saw all-time high volumes of Rs 1.2 lakh crore, which even on expiry is high.

F&O Check

The volumes were very high on the F&O markets. The Nifty Futures volume touched Rs 20,000 crore on day one of new series, which was unusual for day one of a new series. We saw Futures ending at premium after the dip in discount, so the dip was about in the markets today.
 
The 4,500 Put added about 14 lakh shares in open interest and also did 4,900 Call adding similar open interest.

Stock Specific Action:

Suzlon added 1 crore shares in open interest and the stock was up 7%. Financials had a bad day. IDFC was down 4% with 18% buildup in open interest.

Bank of Baroda (BoB) was down 4.5% with concerns about its exposure to Dubai markets and the stock had huge 100% buildup in open interest.

Ranbaxy was up 3% with a buildup of 33% and Aban Offshore was down 4% with 25% buildup in open interest.