Bharti Airtel February 2007 futures was the most active contract with a turnover of Rs 1367.20 crore. It settled at a discount, at 741, compared to the spot closing of Rs 749.

Reliance Industries (RIL) February 2007 futures settled at a premium, at 1378, compared to the spot closing of Rs 1377.10.

IVRCL Infrastructures February 2007 futures settled at a premium, at 368.30, compared to the spot closing of Rs 366.55.

Reliance Communication February 2007 futures settled at a premium, at 446, compared to the spot closing of Rs 445.10.

In the cash market, the S&P; CNX Nifty lost 13.75 points (0.34%) to 4,044.55.

On 7 February 2007, the National Stock Exchange (NSE) reduced the lot size of a number of contracts, including the briskly traded Nifty contract. The decision was taken based on the prescribed minimum contract value of Rs 2 lakh as per a Securities & Exchange Board of India (Sebi) circular of 2004.

NSE simultaneously raised the lot sizes of some stocks to adhere to the same criteria. The market lot of Nifty has been reduced from 100 to 50. The market lot of Bank Nifty Index was cut from 100 to 50. Among individual stocks, the lot size of IFCI was slashed from 31,500 to 7,875.

The effective date of revision in lot size is 23 February 2007. However, some of the revisions will become effective starting May 2007 expiry, with a view to avoid operational complexities, NSE said in a circular.

The NSE revised downwards the lot size of 52 contracts, while it revised upwards the lot size of 12 contracts.

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