The value of net outstanding carried forward has fallen by Rs 380 crore to Rs 2,870 crore from a high of Rs 3,250 crore on February 17.

This also means, according to brokers, that the fears of market dropping further can be ruled out, and that it may bottom out at existing levels.

The biggest beneficiary of the drop in outstanding positions could be Zee Telefilms, say brokers. The net outstanding position in this counter has fallen by 50 per cent. On February 17, the shares carried forward in this counter was 81.35 lakh. It has fallen to 40.99 lakh shares on Saturday.

The value of the outstanding position on the Zee counter has also fallen by more than Rs 100 crore (54 per cent), from Rs 188.02 crore to a low of Rs 86.48 crore. Market sources say that FIIs have purchased more than 50 lakh shares in this counter during the settlement ended on Friday.

Other frontline new economy stocks have also recorded a fall in the value of their outstanding position, but their carried forward outstanding quantity has remained at the level of the previous settlement. This is because these stocks have seen severe beating on the price front during the settlement. The prices of top-rung new economy stocks of `A' group have dipped in the range of 5 per cent to 28 per cent.

The fall in prices did not result in a corresponding fall in the outstanding quantity, which could create panic in the market, if bourses were gripped by any negative factor, opined a section of brokers.

The price of Global Telesystems has dropped by 28 per cent during the settlement, while the stocks' outstanding quantity carried forward has actually increased from 25.91 lakh shares to 26.56 lakh shares. HFCL price has lost 18.30 per cent, but its outstanding carried forward quantity has remained almost static at 26 lakh shares.

Infosys Technologies saw an erosion of 10.48 per cent in the stock price, while the outstanding carried forward position has reduced from 2.10 lakh shares to 1.83 lakh shares, while in value terms, there is 22.12 per cent drop from Rs 131.90 crore to Rs 103 crore.

The NIIT stock lost 14 per cent during the week, but its carried forward outstanding remained stable at about 2.60 lakh shares, while the value of outstanding shares dipped by 18 per cent from Rs 38 crore to 31.40 crore.

In case of Pentamedia Graphics, the stock price has dropped 19 per cent, while the outstanding quantity has increased from 36.82 lakh shares to 39.77 lakh shares. The value has decreased by 12.50 per cent from Rs 84.73 crore to Rs 74.15 crore. Silverline Technologies has also seen a price erosion of 19 per cent, while its carryforward quantity has marginally dropped from 37.83 lakh shares to 35.40 lakh shares, while in value terms it has dipped by 24.20 per cent from Rs 88 crore to 66.72 crore.

Satyam Computer counter also saw a price erosion of 13 per cent during the week, but its outstanding quantity has increased from 31 lakh shares to 34.02 lakh shares, while the value moved down by 4.42 per cent from Rs 113.46 crore to Rs 108.44 crore.