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The Nifty September futures ended at a marginal premium of four points at 4,364 as against the spot Nifty of 4,360 (up 146 points). The counter recorded trades of over six lakh contracts today and the open interest (OI) increased by 1.21 crore shares to 3.34 crore shares.
CALL ACTION
The Nifty September 4,400 and 4,500 calls were the most active counters with trades of around 84,700 and 76,700, contracts, respectively. The 4,400 call added 7.65 lakh shares in open interest to 20.66 lakh shares, and the 4,500 call open interest rose by 8.45 lakh shares to 18.95 lakh shares.
The 4,300 and 4,600 calls saw trades of around 64,500 and 40,230, contracts, respectively. The open interest for the 4,300 call rose by 8.93 lakh shares to 18.66 lakh shares, and the 4,600 call saw net addition of 4.71 lakh shares to its open interest of 14.54 lakh shares.
PUT ACTION
The Nifty September 4,300 put was the most active counter with trades of over one lakh contracts, and the open interest surged by over 17 lakh shares to over 33 lakh shares. It was followed by the 4,200 put with trades of over 75,000 contracts, and the open interest increased by 24.49 lakh shares to 37.68 lakh shares.
The 4,000 and 4,100 puts saw trades of around 29,280 and 23,300 contracts, respectively. The 4,000 put open interest was up by six lakh shares to 29.52 lakh shares, and the 4,100 put open interest increased by 5.66 lakh shares to 14.92 lakh shares.
courtesy BS-...
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India kicked off its first exchange-traded rupee futures on Friday with heavy trading reported in the first minutes of business and front-month contracts seeing the highest activity. Dealers said banks and large companies made the bulk of trading, even though the contract size is small compared with exchange-traded currency futures elsewhere.
By 10:14 a.m. (0444 GMT), more than 8,000 contracts were traded on the National Stock Exchange (NSE), the first of several platforms planned, with the heaviest trade on the September and October contracts, NSE data showed. On the spot market, the rupee was trading at 43.74/75 per dollar, slightly firmer than Thursday close at 43.78/79.
India is trying to develop more sophisticated financial markets and hedging tools to support its rapidly growing economy and Finance Minister Palaniappan Chidambaram said at the start of trading the government needed to push on with more instruments.
\"After having launched currency futures, we need to revitalise exchange-traded interest rate derivatives markets, offer exchange-traded credit derivatives and also need to strengthen the corporate bond markets,\" he said. \"These three products are high on the priority list of the government and I ask the government to move forward on this.\"
Each contract size is $1,000, smaller than 12.5 million Japanese yen ($115,000) or 100,000 Australian dollars (US$86,000) contract sizes on the Chicago Mercantile Exchange. The Multi Commodity Exchange of India and the Bombay Stock Exchange have also received in-principle approval to offer exchange-trade currency futures.-ET...
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NSE to launch exchange traded currency futures today...
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* Finance Minister Chidambaram in Mumbai- To launch currency derivatives at NSE. And To meet SEBI head Bhave at SEBI, investors, attend NSDL function, meet SUUTI board members at UTI Tower, attend UTI MF board meeting and meet LIC board members. ...
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Nifty looking weak as it breached last weeks low now seems we will be again going to test 4160 levels soon..as inflation data on radar i expect poor show of nifty towards 4160 -4180.
courtesy - stoxandmore...
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Niftyyyyyy falling like pack of cards stright towards 4200 cmp 4222 given short at 4250
sandm...
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Global credit rating agency Moody\'s expects the Reserve Bank of India (RBI) to further tighten monetary policy to contain rising prices, even while projecting moderation in economic growth rate to 7.6%. \"If the inflation fails to ease in coming weeks, the RBI will have no choice but to further tighten monetary policy,\" Moody\'s said in its \'Macro Roundup; India\'s inflation pain persists\'.
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Sell Nifty now...target zone entered...
courtesy stoxandmore
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Nifty falling like a pack of cards this would have protected you against your intraday positions........we believe after fulfilling initial weakness and targets in the later part of the day, Nifty should come back higher. ...
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Nifty made double top ...so be cautious!!!!...
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Sell Nifty Aur Fut cmp 4331.....Tgt...SL.....
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Raise your trailing stoploss to 4359 now for nifty....
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The Bombay Stock Exchange (BSE) has offered Deutsche Borse and Singapore Stock Exchange positions of director on the BSE board, said a senior BSE official.
“We have offered them positions as board members,” said the BSE Chairman, Mr Jagdish Capoor, while speaking to media persons on the sidelines of a book launch function at the exchange.
With regards to delay in new derivative products to be offered in tie-ups with foreign exchanges, BSE’s technical committee is working on it, as regulator SEBI wanted technology being made available by foreign parties to suit domestic market conditions.
“BSE’s technical committee met today (on Friday) to sort out the issues related to technological support to be provided by its foreign partners, Deutsche Borse and Singapore Stock Exchange. Indian stock market regulator Sebi wanted some changes to suit the domestic requirements,” Mr Capoor said. BSE technical committee may have to meet again before the matter is finalised. With regards to the Sebi approval for BSE to launch currency futures trading, Mr Capoor said that there were a few things to complete, “otherwise BSE’s preparedness was almost complete and we are waiting for Sebi to do an assessment.”
Meanwhile, BSE’s plans to launch a commodity exchange seem to have been postponed with the exchange calling off its tie-up with NMCE. “We might look at launching commodity exchange in future. But for the time being, the relations with NMCE are over,” said Mr Capoor.
Dalal Street Investment Journal launched a book on Indian Stock Market in English and Hindi titled Stock Market Book to educate common investors about the various dynamics of the equity market
-BS.
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Brokers told to carry out internal audits half-yearly
The market regulator, Securities and Exchange Board of India, has asked the stock exchanges to direct their brokers and clearing members to carry out complete internal audits on a half-yearly basis by independent qualified Chartered Accountants.
The first such audit period would be the half-year ending March 31, 2009, SEBI said in a circular on Friday. Earlier exchanges used to appoint auditors who would check brokers’ books on a random basis, said a broker.
New regulations
According to a broker, some brokers misrepresent accounts for their own benefit, but with the internal audit made mandatory, all those who fake their profits or losses will find it difficult to do so. There are many leakages and loopholes in the way the brokers function, with the new regulations there will be more transparency in the system, said another broker.
The market regulator will be able to keep a check on whether the brokers are adhering to the KYC norms, following the mandatory margin requirements and other such activities.
There will be more transparency and accountability wherein proprietary trades of brokers are concerned, said marketmen. Importantly, internal auditors would also be more strict about checking margin funding by brokers and sub brokers. Often sub-brokers extend margins that are way above their clients’ credit worthiness warrants.
Necessary amendments
In choppy market conditions, the market regulator might want to minimise unwarranted risks due to the way some brokers trade and this new regulation will help SEBI curb that menace, said the director of a broking firm based in Mumbai. The market regulator needs to keep a check on questionable activities of marketmen, in such choppy markets, said a broker.
In addition to asking the stock exchanges to bring the new regulation of internal audit to the notice of the member brokers/clearing members and disseminating the same on the Web site, the markets regulator has also asked the stock exchanges to make the necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately. The exchanges should also communicate to SEBI the status of implementation of the new regulation through their monthly development reports.
The audit will cover the scope and efficiency of the internal control system, compliance with the provisions of the SEBI Act, 1992, Securities Contracts (Regulation) Act 1956, SEBI (Stock Brokers and Sub-Brokers) Regulations 1992, circulars issued by SEBI, agreements, KYC requirements, bye-laws of the exchanges, data security and insurance in respect of the operations of stock brokers/clearing members. -BL
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Nifty fut seems till 4312 resistence zone after crossing it stright towards 4340
stox andmore: rcom intraday tgts are 410 ,415 for rcom 407-8 zone will act as resistence after crossing 410 stright towards 419.
- s and m...
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