Futures open interest up by 30 percent

The total open interest position at the futures counter during the week ended on November 5, 2011 increased by Rs 300 million, or 30 percent to Rs 1.3 billion. On the other hand, the futures spread showed divergent move, as it went down by 238bps to 6.0 percent.
Trading at the futures counter remained low and the average daily volume declined to only 7.6 million shares, or by 41 percent. The top 5 scrips at the futures counter, holding 68 percent of total open interest, with Engro on top, were FFC, POL, FFBL and NBP.