The open interest on the National Stock Exchange's futures & options segment hit an all-time high of Rs 7,000 crore (Rs 70 billion) on Thursday.

But with the expiry of the July contracts, open interest of close to Rs 4,300 crore (Rs 43 billion) has expired, of which Rs 3,000 crore (Rs 30 billion) is in the options segment and Rs 1,300 crore (Rs 13 billion) in the futures segment.

Open interest is the total notional value of contracts outstanding in the market at any time.

In another landmark, the turnover in the NSE F&O segment touched an all-time high of Rs 7429.41 crore (Rs 74.29 billion).

The previous high was Rs 6,073.66 crore (Rs 60.74 billion) recorded on July 30, 2003. Unlike the open interest, the turnover is the actual value of contracts traded in the day.

With the expiry of the July contracts, there was a considerable roll-over of positions from the July series to the August series.

"Most counters witnessed roll-over of positions in the futures segment with around 55 per cent of open positions expiring today," a dealer with an institutional brokerage house said.

In an extreme volatile session, Nifty July futures rose 2.35 points to close at 1,186.00 while the cash NSE S&P CNX Nifty settled at 1,184.70. But August Nifty futures ended at 1,180.65, a discount to the cash market.