Indian capital market saw the launching of index futures and options on NSE on June 12, 2000 and June 4, 2001 respectively.This launching of futures and options in Indian stock markets was perceived to increase volatility in the stock market by some researchers, while other researchers anticipated decline in volatility. So far, studies have examined volatility implication in macro-level, that is, they measured volatility reduction by comparing volatility of pre and post derivatives period, using various models. This paper tries to study in micro-level, how as to the volatility implications are there across the days of the week in post futures and options period in Indian stock market by isolating volatility related to market-wide factors as well as international-wide factors. This paper also examines the nature of the volatility after the introduction of futures and options contracts. The study has been undertaken with a comprehensive daily data set of S&P CNX Nifty, Nifty Junior and S&P 500 index from October 4, 1995 to May 31, 2007, and to measure the volatility GARCH (1, 1) model has been used. The results of the study show that the presences of derivatives markets on S&P CNX Nifty have declined the volatility marginally and volatility implication in days of the week as a consequence of derivatives introduction revealed the presence of speculative activities in spot as well as derivatives market. And, further results show that options market reduce volatility and stabilize underlying spot market marginally more than futures market.

Sankarabarani river basin gains significance due to presence of major industrial, agricultural, urban development and tourist related activities has influenced the water quality in the estuarine environment.  Investigations about river water quality has been attempted but not more studies focus about the evaluation of groundwater discharge a significant process that connects groundwater and the coastal seawater have been attempted.  For the present study, radium (226Ra) a naturally occurring isotope was measured at three locations and used as effective tracers for estimating the groundwater discharge along with nutrient inputs to the Bay. Groundwater samples representing north east monsoon (December, 2017) has been collected during tidal variation in three locations (Location A- away from the coast towards inland, Location B-intermediate between Location A and the coast and Location C-at the estuary). 226Ra mass balance calculated groundwater fluxes irrespective of tidal variations were 2.27×108 m3/d, 2.19×108 m3/d and 5.22×107m3/d for A, B and C locations respectively. The nutrients like Dissolved inorganic nitrogen (DIN), Dissolved inorganic Phosphate (DIP) and Dissolved Silica (DSi) were found to be influencing the coastal groundwater by contributing fluxes to the sea of about 679.33 T mol/day. The study suggests increasing radium and nutrient fluxes to the Bay altering the coastal ecosystems would result in surplus algal blooms creating hypoxia.