FIIs net buy Rs 963 cr in Index Futures on Feb 02

By Varinder Bansal, Research Analyst at CNBC-TV18

FIIs were net buyers of Rs 963 crore in Index Futures; which open interest (OI) was down by 27960 contracts. Total Nifty Futures' open interest was down by Rs 104 crore while total Nifty Options up by Rs 2,316 crore. Stock Futures shed 72 lakh shares in OI. Nifty 5500 Call added 6.5 lakh shares in OI while Nifty March 4800 Put added 4.2 lakh shares in OI. Short covering was seen in RIL and Unitech while there was no cash based buying in both. The stock rallied 2.9%; its OI was down by 7% and delivery volume declined at 40.8 lakh shares versus 44 lakh. Unitech jumped 4.65%; its OI was down by 7% and delivery volume fell at 1.85 crore equity shares as against 2.8 crore shares. Fresh shorts were seen in Hero Honda but there was no cash based selling. The stock tanked 6%; its OI was up by 6% and delivery volume slipped at 4.5 lakh shares versus 5.9 lakh. Huge unwinding & cash based selling were seen in India Cement. The stock fell 4.6%; its OI was down by 35% and delivery volume jumped at 31.2 lakh equity shares as against 5 lakh shares. Fresh longs were seen in TCS but there was no cash based buying. The stock gained 3.5%; its OI was up by 10% and delivery volume went down at 10 lakh shares versus 12 lakh.