ITC adds nearly 50 lakh shares in Open Interest

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ITC adds nearly 50 lakh shares in Open Interest

A bit of Friday impact, so, volumes dropping slightly but not by too much and Nifty action still continues to be quite high. Sugar and select midcap stocks stood out. ITC had a nice follow-up to its yesterday’s gains, added 23 lakh shares in today’s open interest.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news India Cements | ITC | Jaiprakash Power Ventures | Triveni Engineering and Industries | TVS Motor Company |

CNBC-TV18's research analyst, Anuj Singhal: A bit of Friday impact, so, volumes dropping slightly but not by too much and Nifty action still continues to be quite high. Sugar and select midcap stocks stood out.

There was a premium in the Nifty futures and we saw fresh buildup in Nifty futures taking place nearly 28 lakh shares. The premium of nearly 26 points shows that the longs are still sitting there and they are not letting their positions go. Turnover of Rs 15,000 crore for the Nifty; it has been picking up in fact every single day of this week progressively, the Nifty turnover has been higher than the previous day so the action in the Nifty has come back quite significantly, he added.

ITC had a nice follow-up to its yesterday's gains, added 23 lakh shares in today's open interest (OI). It added about 30 lakh shares in yesterday's open interest so for an index stocks nearly 50 lakh shares in two days that's good going and the stock too crossed Rs 200 mark quite comfortably today, he further said.

JP Hydro saw a turnover of more than Rs 1,000 crore, saw a fresh buildup of 45 lakh shares in open interest.

Triveni Engineering was a big star where we saw a fresh buildup of nearly 23 lakh shares.

But three stocks that stood out in the last hour of trade - India Cements was up about 10% in the last hour of trade, added 17 lakh shares in open interest. Hindustan Oil Exploration Company has become a last 30 minute play with the traders with a fresh buildup of nearly 12 lakh shares over there. It was a phenomenal session for TVS Motor , up 10% with a fresh buildup of about 11 lakh shares in open interest.