Nifty feb discounts widens on short buildup
Indian markets were on a winning streak as they ended in green back on positive points from global markets on wednesday, National Stock Exchange’s 50-share Nifty closed the day 0.69 per cent higher at 2803. Intraday, it touched a high of 2842.20 and low of 2780.70.
Nifty February futures provisionally ended at a widening discount of 28 points against 19 points on Tuesday. The contract price gained 0.39 per cent and open interest added 16 lakh shares. The sell quantity was nearly 1.5 times that of buy. This indicates build up of short positions in the contract at higher levels.
Reliance Industries February futures slipped 0.25 per cent while open interest added 1.94 lakh shares. The contract was provisionally ended at a discount of Rs 11, indicating modest short build up. State Bank of India February contract has also attracted modest short positions.
While DLF futures jumped 6.28 per cent, Educomp gained 2.84 per cent and Bharati Airtel rose 1.48 per cent. L&T fell 0.47 per cent while OI added 2.2 lakh
shares. ICICI Bank dropped 1 per cent adding 4.42 lakh shares in OI.
Source: Economic times