The open interest on BSE has increased to Rs 21.15 crore with volume of 998 contracts on BSE. In the cash markets, the Sensex shed 275 points to close at 4188.34 while the Nifty closed 79.5 points down at 1317.75. Derivative volumes on BSE and NSE had crossed Rs 20 crore on July 14.

On the BSE, the maximum volumes were for July futures with 362 contracts valued at Rs 7.74 crore. The total open interest in July futures stood at 566 contracts with an increase of 51 open contracts today. At NSE there were 80 July futures contracts traded worth Rs 2.14 crore. The open interest for July futures reduced by 3 to 311 contracts. In August futures, 221 contracts worth Rs 4.76 crore were traded on BSE with open interest increasing by 158 contracts to 286. NSE recorded 123 contracts valued at Rs 3.32 crore with open interest up by 89 contracts at 167.

There were 134 September contracts traded on BSE valued at Rs 2.88 crore and the open interest was up by 130 contracts to 146. On NSE, 15 September contracts valued at Rs 0.41 crore were traded with open interest up by 9 contracts to 31. The implied carrying cost on NSE for the July, August and September series worked out to 48.38%, 12.82% and 15.84 per cent respectively.

In line with the bearish sentiments, there was a sharp drop in the futures price of the near, mid and far term contracts with the July futures falling by 279 points to close at 4218 against the cash market Sensex close of 4188.34 with a loss of 275 points. On the NSE, the July futures price slipped by 84.60 points to close at 1323 while the Nifty lost 79.50 points in the cash market to close at 1317.75.