The study analyzed how the performance of popular stocks in the cash market and futures market are related. It found that futures prices can provide additional information beyond spot prices, acting as a leading indicator. The research showed that there is a feedback relationship between futures and cash markets, with futures generally leading cash markets. The study also noted that price discovery is not evident in futures markets when information flows at the same speed in both markets. However, when futures prices change significantly, they lead cash prices, indicating the role of price discovery in futures markets.