After one day halt, S&P CNX -- Nifty -- finished the last trading day of week with minor gains. Market made a positive start, as traders took support with Niti Aayog Vice Chairman Rajiv Kumar expressed confidence that money and resources will be in place for a viable and effective vaccination system to fight COVID-19, even as he said it is quite premature to talk about the cost for getting the vaccination. He also expressed hope that the corporate world will also rise up to the occasion and make the vaccination part of their CSR activity. Further, market continued its trade in positive range with reports that the Reserve Bank issued final guidelines, including the framework, to set up a self-regulatory organisation for payment system operators as part of its payment and settlement systems vision. The framework will enable the central bank to recognise a self-regulatory organisation (SRO) for payment system operators (PSOs). The plan was announced in February 2020 monetary policy.
Traders ignored UN expert statement that between 150 million and 175 million more people will fall into extreme poverty due to the COVID-19 pandemic. Index maintained its gains to end the session in green territory, as Reserve Bank of India (RBI) in its latest data has showed that bank credit grew by 5.66 per cent to Rs 103.44 lakh crore, while deposits increased by 10.55 per cent to Rs 143.02 lakh crore in the fortnight ended October 9. In the fortnight ended October 11, 2019, bank credit had stood at Rs 97.89 lakh crore and deposits at Rs 129.38 lakh crore.
Most of the sectoral indices ended in green except Pharma, Private Bank and Realty. The top gainers from the F&O segment were Info Edge (India), Bharat Forge and Apollo Tyres. On the other hand, the top losers were Coforge, Biocon and Container Corporation of India. 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 3.56% and reached 21.83.The 50 share Nifty up by 33.90 points or 0.28% to settle at 11,930.35.
Nifty October 2020 futures closed at 11934.00 (LTP) on Friday, at a premium of 3.65 points over spot closing of 11930.35, while Nifty November 2020 futures ended at 11955.90 (LTP), at a premium of 25.55 points over spot closing. Nifty October futures saw an addition of 5,211 units, taking the total open interest (Contracts) to 1,43,413. The near month derivatives contract will expire on October 29, 2020 (Provisional).
From the most active contracts, Reliance Industries October 2020 futures traded at a premium of 7.75 points at 2119.75 (LTP) compared with spot closing of 2112.00. The numbers of contracts traded were 35,367 (Provisional).
ICICI Bank October 2020 futures traded at a premium of 0.05 points at 416.40 (LTP) compared with spot closing of 416.35. The numbers of contracts traded were 28,866 (Provisional).
Indusind Bank October 2020 futures traded at a premium of 0.10 points at 606.50 (LTP) compared with spot closing of 606.40. The numbers of contracts traded were 25,390 (Provisional).
Bharti Airtel October 2020 futures traded at a discount of 0.40 points at 433.60 (LTP) compared with spot closing of 434.00. The numbers of contracts traded were 23,928 (Provisional).
Axis Bank October 2020 futures traded at a premium of 0.90 points at 508.05 (LTP) compared with spot closing of 507.15. The numbers of contracts traded were 23,015 (Provisional).
Among, Nifty calls, 12000 SP from the October month expiry was the most active call with an addition of 10,546 units open interests. Among Nifty puts, 11900 SP from the October month expiry was the most active put with an addition of 10,427 units open interests. The maximum OI outstanding for Calls was at 12500 SP (60,787 units) and that for Puts was at 10500 SP (50,951 units). The respective Support and Resistance levels of Nifty are: Resistance 11,967.02 -- Pivot Point 11,937.88 -- Support -- 11,901.22.
The Nifty Put Call Ratio (PCR) finally stood at (1.12) for October month contract. The top five scrips with highest PCR on Apollo Tyers (1.39), Tata Steel (1.16), Axis Bank (1.13), JSW Steel (1.07) and Petronet LNG (0.98).
Among most active underlying, Reliance Industries witnessed an addition of 4,100 units of Open Interest in the October month futures contract followed by Bharti Airtel witnessed a contraction of 446 units of Open Interest in the October month futures contract, ICICI Bank witnessed an addition of 9,154 units of Open Interest in the October month futures contract, Tata Steel witnessed an addition of 1,527 units of Open Interest in the October month futures contract and Bajaj Finance witnessed an addition of 1,622 units of Open Interest in the October month futures contract (Provisional).
