DLF makes big-bang entry

MUMBAI: DLF July futures made a big bang entry into the futures market, topping the list of most actively traded contracts. DLF July contract closed at Rs 574 against the spot price of Rs 568 - the number of contracts traded was 111,654 and the turnover was Rs 2517.30 crore. Open interest in the contract was 1.13 crore.

The next top traded July futures was Reliance Capital with turnover at Rs 1,580 crore. The contract closed at Rs 1,143.20, a premium of Rs 5.2 to the spot price. Open interest was down 0.81% at 58 lakh.

Nifty July futures ended flat at 4355. The number of contracts traded was 458,074 and turnover Rs 9929.30 crore. Open interest in the near month contract was up 3.10% at 3.45 crore.

“We saw some short covering Nifty towards the end. Shorts which got created in two last trading sessions got covered. This brought it into the premium for a brief period. Nifty sees good resistance at 4380 levels.

Even on Thursday it ran up to these levels before dipping. 4240 remains a strong support,” said Vivek Jain of Edelweiss Securities.

Vivek also saw some short build up in the IT basket as people are expecting some result surprise. Bharti counter saw profit booking, while Mahindra and Mahindra saw short covering.