S&P CNX -- Nifty -- exhibited smart performance in Thursday’s trade ending with a gain of over one and half percentage buoyed by strong global cues. Market made positive start, as Directorate General of Foreign Trade (DGFT) has said while October data looked promising for exports, the situation will improve further in the coming months due to collaborative efforts of all the stakeholders. Director General of Foreign Trade Amit Yadav has said since April, when there was a huge downfall in exports, it has made good progress and is going to rise in the coming months. Further, index added traction to trade higher after finance ministry has said the economy has been recovering at a fast pace and would likely to reach pre-Covid-19 levels by the end of the current fiscal year.
Market continued its upward rally and touch intraday high point in last leg of trade, as banks have started refunding borrowers the compound interest charged on specified loan accounts during the moratorium period. Last week, the Reserve Bank of India (RBI) had asked all lending institutions, including non-banking financial companies, to ensure that the scheme of waiver of interest on interest for loans up to Rs 2 crore for the six-month moratorium period is implemented by November 5. Finally, Nifty ended wonderful day of trade above its 12100 mark.
Most of the sectoral indices ended in green except Realty. The top gainers from the F&O segment were SAIL, PVR and Hindustan Petroleum Corporation. On the other hand, the top losers were Ambuja Cements, Godrej Consumer Products and Godrej Properties. In the index option segment, maximum OI continues to be seen in the 12,000 - 13,400 calls and 10,900 - 11,800 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 9.62% and reached 20.97.The 50 share Nifty up by 211.80 points or 1.78% to settle at 12,120.30.
Nifty November 2020 futures closed at 12152.00 (LTP) on Thursday, at a premium of 31.70 points over spot closing of 12120.30 , while Nifty December 2020 futures ended at 12169.00 (LTP), at a premium of 48.70 points over spot closing. Nifty November futures saw an addition of 22,037 units, taking the total open interest (Contracts) to 1,62,195 . The near month derivatives contract will expire on November 26, 2020 (Provisional).
From the most active contracts, SBIN November 2020 futures traded at a premium of 0.75 points at 219.25 (LTP) compared with spot closing of 218.50. The numbers of contracts traded were 48,995 (Provisional).
Reliance Industries November 2020 futures traded at a premium of 2.20 points at 1959.00 (LTP) compared with spot closing of 1956.80. The numbers of contracts traded were 45,737 (Provisional).
Bajaj Finance November 2020 futures traded at a premium of 3.00 points at 3725.00 (LTP) compared with spot closing of 3722.00. The numbers of contracts traded were 27,761 (Provisional).
Indusind Bank November 2020 futures traded at a premium of 0.05 points at 720.05 (LTP) compared with spot closing of 720.00. The numbers of contracts traded were 26,562 (Provisional).
ICICI Bank November 2020 futures traded at a premium of 2.00 points at 440.15 (LTP) compared with spot closing of 438.15. The numbers of contracts traded were 23,495 (Provisional).
Among, Nifty calls, 12500 SP from the November month expiry was the most active call with an addition of 1,195 units open interests. Among Nifty puts, 12000 SP from the November month expiry was the most active put with an addition of 8,684 units open interests. The maximum OI outstanding for Calls was at 13000 SP (21,460 units) and that for Puts was at 11500 SP (35,653 units). The respective Support and Resistance levels of Nifty are: Resistance 12,158.40 -- Pivot Point 12,093.00 -- Support -- 12,054.90.
The Nifty Put Call Ratio (PCR) finally stood at (1.59) for November month contract. The top five scrips with highest PCR on Bajaj Finance (1.24), Kotak Mahindra Bank (1.21), Indusind Bank (1.21), Havells (1.10) and ICICI Lombard General Insurance (1.00).
Among most active underlying, Reliance Industries witnessed a contraction of 2,197 units of Open Interest in the November month futures contract followed by SBIN witnessed an addition of 1,792 units of Open Interest in the November month futures contract, Bajaj Finance witnessed an addition of 2,045 units of Open Interest in the November month futures contract, Indusind Bank witnessed an addition of 3,191 units of Open Interest in the November month futures contract and Tata Steel witnessed an addition of 1,513 units of Open Interest in the November month futures contract (Provisional).
