NSE gauge -- Nifty 50 -- witnessed marginal losses on Thursday, sliding below its crucial 11,900 levels. It was a negative start to the market with private report that the government expects the fiscal deficit to be close to 7 percent of GDP or thereabouts in the current financial year. The general deficit is unlikely to be lower than 11 percent, with the state government borrowings estimated at 4 percent levels. Further, market continued its weak trade, as the International Monetary Fund slashed this year's economic forecast for Asia, reflecting a sharper-than-expected contraction in countries like India, a sign the coronavirus pandemic continues to take a heavy toll on the region.
Traders failed to take any sense of relief, as Reserve Bank announced an on tap Targeted Long-Term Repo Operations (TLTRO) scheme of up to Rs 1 lakh crore to enable banks to provide liquidity support to a host of sectors, including agriculture, retail, drugs and pharmaceuticals and MSMEs. Index extended its downside till the end of session, as United Nations Conference on Trade and Development (UNCTAD) has said that India's export growth saw a decline of 6.1 per cent in the third quarter of 2020 as compared to third quarter of last year. However, it said that India recorded export growth of four per cent in September.
Most of the sectoral indices ended in red except Media, FMGC and Metal. The top gainers from the F&O segment were Torrent Power, Shriram Transport Finance and Petronet LNG. On the other hand, the top losers were Jubilant Foodworks, Aurobindo Pharma and Hero Motocorp. In the index option segment, maximum OI continues to be seen in the 12,000 - 12,700 calls and 10,000 - 10,900 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 1.22% and reached 22.64.The 50 share Nifty down by 41.20 points or 0.35% to settle at 11,896.45.
Nifty October 2020 futures closed at 11898.85 (LTP) on Thursday, at a premium of 2.40 points over spot closing of 11896.45, while Nifty November 2020 futures ended at 11919.95 (LTP), at a premium of 23.50 points over spot closing. Nifty October futures saw an addition of 3,017 units, taking the total open interest (Contracts) to 1,46,268. The near month derivatives contract will expire on October 29, 2020 (Provisional).
From the most active contracts, Bajaj Finance October 2020 futures traded at a premium of 3.45 points at 3310.45 (LTP) compared with spot closing of 3307.00. The numbers of contracts traded were 39,584 (Provisional).
Reliance Industries October 2020 futures traded at a premium of 6.10 points at 2118.00 (LTP) compared with spot closing of 2111.90. The numbers of contracts traded were 33,353 (Provisional).
ICICI Bank October 2020 futures traded at a premium of 1.20 points at 414.70 (LTP) compared with spot closing of 413.50. The numbers of contracts traded were 27,750 (Provisional).
Bharti Airtel October 2020 futures traded at a premium of 0.75 points at 431.75 (LTP) compared with spot closing of 431.00. The numbers of contracts traded were 25,617 (Provisional).
Dr Reddy's October 2020 futures traded at a premium of 0.85 points at 5030.00 (LTP) compared with spot closing of 5029.15. The numbers of contracts traded were 24,950 (Provisional).
Among, Nifty calls, 12000 SP from the October month expiry was the most active call with an addition of 10,779 units open interests. Among Nifty puts, 11900 SP from the October month expiry was the most active put with an addition of 6,620 units open interests. The maximum OI outstanding for Calls was at 12500 SP (47,890 units) and that for Puts was at 10500 SP (53,028 units). The respective Support and Resistance levels of Nifty are: Resistance 11,949.52 -- Pivot Point 11,886.48 -- Support -- 11,833.42.
The Nifty Put Call Ratio (PCR) finally stood at (1.26) for October month contract. The top five scrips with highest PCR on Axis Bank (1.25), JSW Steel (1.08), Petronet LNG (1.01), HDFC (0.99) and Tata Steel (0.84).
Among most active underlying, Reliance Industries witnessed an addition of 2,543 units of Open Interest in the October month futures contract followed by Bajaj Finance witnessed an addition of 279 units of Open Interest in the October month futures contract, Dr Reddy’s witnessed an addition of 519 units of Open Interest in the October month futures contract, Bharti Airtel witnessed a contraction of 706 units of Open Interest in the October month futures contract and Aurobindo Pharma witnessed an addition of 659 units of Open Interest in the October month futures contract (Provisional).
Download APP
