ICICI Bank adds 32 lakh shares in OI

Here is a verbatim transcript of Anichya Shah's on CNBC TV18. Also see the accompanying video

 

Turnover was extremely low at about Rs 41,000 crore versus last week's average of about Rs 50,000-53,000 crore. The Nifty futures data currently went into a massive bit of a premium so probably some of those shorts which were initiated last week-we saw a bit of covering plus a bit of long build up at lower levels. But there was definitely some bit of profit booking day. At the peak we were adding about 43-44 lakh shares in open interest so that 33 lakh saw some bit of profit booking by the longs towards the end of the day.

 

IT and the banking space pretty much stole the show so Satyam was up about 8% with about 26% open interest build up. Infosys from the IT space looked extremely strong, up about 7% with about 10-11% open interest build up.

 

ICICI Bank was the stock of the day-in focus today-bounced back the sharpest-up about 17% with a good 25-26% open interest build up, 32 lakh shares.

 

Yes Bank was up 10% with about a 15% open interest build up but what was evident with a lot of these stocks is that they rallied on pretty high impact cost. There were not significant volumes which is why you saw about 63-65 stocks rallying more than 10% but not on very large volumes and not on huge contract builds up because this is a pretty light series.

 

Core Projects was down 58% incidentally with a 17% open interest build up, pretty much metering what was happening in the cash markets where there seems to be huge delivery base selling.

 

DCB shed about 10% in open interest and was driven up by a fair bit of short covering and RCOM very interestingly had added 11% in open interest in Friday's trade, saw a huge shorts then and today it has added open interest of about 2-3% but mainly was driven up by a fair bit of short covering and saw a double-digit rally.