Nifty March 2007 futures settled at 3,931, a discount of 7.95 points over the spot closing of 3,938.95.

Reliance Industries (RIL) March 2007 futures settled at a premium, at 1,428.15, compared to the spot closing of Rs 1419.50. It was the most active contract with a total turnover of Rs 1675.74 crore.

Tata Steel March 2007 futures settled at premium, at 461.30, compared to the spot closing of Rs 459.

Reliance Communications March 2007 futures settled at premium, at 435.80, compared to the spot closing of Rs 431.70.

Cumulative FII positions as a percentage of the total gross market positions in the derivative segment, as on 22 February 2007, is 36.57%, which was 31.68% on 21 February.

In the cash market, the S&P; CNX Nifty plunged below the psychological 4,000 level, to settle at 3,938.95, a sharp 101.05 points (2.50%) lower, under intense pressure.

Revised market lots in NSEs derivatives segment become applicable today. The lot size of the Nifty contract has been cut to 50 from 100.

It may be recalled that on 7 February 2007, the National Stock Exchange had 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.

However, some revisions will become effective starting May 2007 expiry, with a view to avoid operational complexities, NSE said in a circular.

NSE revised downwards the lot size of 52 contracts, and revised upwards lot size of 12 contracts.

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