Rumours take its toll… - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Rumours take its toll…

Mar 24, 2001

Rumours take its toll…

Contract Open
price
Day’s
high
Day’s
low
Last traded
price
Volume (no of
contracts traded)
Value
(Rs m)
Open interest
(no. of units)
Days to
expiry
29-Mar-01 1,200 1,200 1,135 1,160 772 180 1,925 6
26-Apr-01 1,186 1,199 1,150 1,166 692 164 1,608 32
31-May-01 1,195 1,210 1,150 1,178 34 8 103 62
Total         1,498 351.4 3,636  
Nifty 1,163 (down 21 points)

Cash market:
The market plunged down following the raids by income tax authorities at leading stockbrokers. Adding to the fall of the indices was the rumours of profit warning by the IT major Infosys. At lower levels, buying by institutions helped the indices to recover. Volumes on the bourses however remained low. Nifty closed at 1,163, a decline of 2.2%.

Derivative market:
Volumes shot up sharply by more than 300% on the futures bourses. As normal markets tumbled down, traders took fresh positions in the futures. The reason could be the fact that the futures markets do not have any upfront or carry forward margins, which is not the case on the normal market. It seems market has discounted all the news as volumes were slightly better.

March series:
Generally when the contract nears to its expiry, open interest starts coming down. Volume increased along with decrease in the open interest position. Carrying cost continued to be negative as futures are trading at discount to market. All the parameters indicate closing of positions.

April series:
Volume has started building up in this series as March series is nearing to expiry. Open interest position increased by 339 contracts.

May series:
Volumes were lackluster in this series as players are unable to make a call on May series.

Equitymaster requests your view! Post a comment on "Rumours take its toll…". Click here!

  

More Views on News

Top 5 Recent IPO Developments You Should Know (Views On News)

May 12, 2021

So far in 2021, IPOs in India have raised nearly US$ 3 bn, the best start to the year since 2018.

How Did Mindtree Perform in Q4FY21? (Company Info)

Apr 20, 2021

Here's the rundown on the company's latest quarterly results.

Is Intraday Trading For You? (Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

Beware! Not Every EV Stock Will Be a Tesla (Profit Hunter)

May 13, 2021

Analyse the business models of EV stocks before investing in them.

Why Did Godrej Consumer Products Shares Zoom 20% Today? (Views On News)

May 12, 2021

The company's share price hits upper circuit after 59% jump in Q4 profit.

More Views on News

Most Popular

The Next Smallcap Winners (Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Time to Buy Smallcaps? (Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

Are the Stock Markets Deaf to Covid Agony? (Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

My Secret to Find Breakthrough Stocks (Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


May 12, 2021 (Close)

MARKET STATS