Query Regarding Future Contract(spot & Contract price)

#1
Hi Guys,
I am new to Future & option. I have a query regarding the Future Contract as displayed in my icicidirect. The future contract with sept expiary is displayed as

=>YESBAN FUTSTK 29-Sep-2011 1000 312.00

The current Yesbank market(spot) price ==> 308.5 there difference between the future price is 312-208.5 = 3.5

Suppose i sell a Future contract (312) and square off immidiately will i be getting the 3.5 Rs as profit or not?

=> I understand there might be something i am missing abt the Future Trading Procedure. Please enlighten me.

Regards
Anand
 

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