S&P CNX -- Nifty -- extended its winning streak for eighth straight day and ended the session with the gains of over half a percent. Market made a positive start, as the health ministry said the National Expert Group on Vaccine Administration for COVID-19 is in conversation with all vaccine manufacturers, including domestic and foreign ones, a day after Pfizer Inc. and BioNTech SE announced more than 90 per cent efficacy of their potential vaccine for the coronavirus. However, in late morning, market entered into red zone and traded cautious after rating agency ICRA’s report that states are likely to cut capital outlay on infrastructure by up to 40 percent, with coronavirus disease (covid-19) pandemic severely impacting revenues of state governments, and additional expenditure towards healthcare and public welfare. But, index regained its positive terrain and settles near intraday high level, as Commerce and Industry Minister Piyush Goyal and Minister of State Hardeep Singh Puri held a virtual dialogue with their UK counterparts to review the progress towards a post-Brexit Enhanced Trade Partnership with Britain, which could lead to a free trade agreement in the future.
Most of the sectoral indices ended in green except Media and PSU Bank. The top gainers from the F&O segment were Hindalco, Tata Steel and Apollo Hospital. On the other hand, the top losers were Indusind Bank, Bharat Forge and Reliance Industries. In the index option segment, maximum OI continues to be seen in the 12500 - 13,700 calls and 11,900 - 12,800 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility increased by 2.10% and reached 22.03.The 50 share Nifty up by 118.05 points or 0.93% to settle at 12,749.15.
Nifty November 2020 futures closed at 12763.05 (LTP) on Wednesday, at a premium of 13.90 points over spot closing of 12749.15, while Nifty December 2020 futures ended at 12775.20 (LTP), at a premium of 26.05 points over spot closing. Nifty November futures saw an addition of 11,325 units, taking the total open interest (Contracts) to 1,67,774. The near month derivatives contract will expire on November 26, 2020 (Provisional).
From the most active contracts, Reliance Industries November 2020 futures traded at a premium of 8.60 points at 2007.00 (LTP) compared with spot closing of 1998.40. The numbers of contracts traded were 57,380 (Provisional).
Bajaj Finance November 2020 futures traded at a discount of 35.40 points at 4238.85 (LTP) compared with spot closing of 4274.25. The numbers of contracts traded were 55,497 (Provisional).
Axis Bank November 2020 futures traded at a premium of 1.15 points at 608.90 (LTP) compared with spot closing of 607.75. The numbers of contracts traded were 40,877 (Provisional).
ICICI Bank November 2020 futures traded at a premium of 0.60 points at 490.25 (LTP) compared with spot closing of 489.65. The numbers of contracts traded were 36,600 (Provisional).
Indusind Bank November 2020 futures traded at a premium of 2.85 points at 794.40 (LTP) compared with spot closing of 791.55. The numbers of contracts traded were 35,796 (Provisional).
Among, Nifty calls, 12800 SP from the November month expiry was the most active call with an addition of 234 units open interests. Among Nifty puts, 12500 SP from the November month expiry was the most active put with an addition of 3,621 units open interests. The maximum OI outstanding for Calls was at 13000 SP (26,200 units) and that for Puts was at 12000 SP (43,971 units). The respective Support and Resistance levels of Nifty are: Resistance 12,822.23 -- Pivot Point 12,696.67 -- Support -- 12,623.58.
The Nifty Put Call Ratio (PCR) finally stood at (1.54) for November month contract. The top five scrips with highest PCR on Kotak Mahindra Bank (1.40), Bajaj Finance (1.30), SBIN (1.27), Axis Bank (1.21) and HDFC Bank (1.19).
Among most active underlying, Reliance Industries witnessed an addition of 5,395 units of Open Interest in the November month futures contract followed by Bajaj Finance witnessed an addition of 3,752 units of Open Interest in the November month futures contract, Axis Bank witnessed an addition of 3,079 units of Open Interest in the November month futures contract, SBIN witnessed a contraction of 160 units of Open Interest in the November month futures contract and ICICI Bank witnessed an addition of 1,753 units of Open Interest in the November month futures contract (Provisional).
