Future tense

Poor investor sentiment has taken a toll as seen in falling derivatives turnover

The wave of optimism that had swept the Street in the wake of retail FDI, GAAR deferment and the partial decontrol of diesel prices is fast ebbing away. Sensex, which had surpassed the 20,000 mark in early January after a two-year hiatus, hit a 2-month low of 18,861 on February 28. It’s not just the cash market that’s taken a knock even the derivatives market is showing signs of losing steam. The average daily traded turnover in the F&O segment has been on the slide after hitting an eight-month high of  ₹1.32 lakh crore last December to ₹1.14 lakh crore in February.