Nifty gave powerful performance by surpassing its psychological level of 13,050 amid coronavirus vaccine hopes. Market made positive start, as Union Finance Minister Nirmala Sitharaman said that the momentum of reforms will continue in the future as well to make India an attractive investment destination. According to a press statement from the Ministry of Finance, several measures are being taken up to keep the reforms impetus intact such as professionalisation of the financial sector and thrust on disinvestments. Market maintained its gains, as Care rating in its latest report has said that the Indian economy is expected to throw up better numbers in the September quarter (Q2) with GDP contraction of 9.9 per cent, as against 24 per cent in Q1 at the onset of the pandemic. In the first contraction since 1980, the economy shrank a full 23.9 per cent in the first quarter of the fiscal after the whole nation was put under a strict lockdown. In last leg of trade, market touched its intraday high point after the chief economic adviser (CEA) -- Krishnamurthy Subramanian has said India is likely to report a current account surplus at the end of the current financial year ending in March 2021, mainly led by a fall in imports.
All the sectoral indices ended in green. The top gainers from the F&O segment were Bosch, RBL Bank and Shriram Transport Finance Company. On the other hand, the top losers were GMR Infrastructure, Jubilant Foodworks and Apollo Hospitals. In the index option segment, maximum OI continues to be seen in the 12500 - 13,700 calls and 11,900 – 13,000 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility increased by 1.25% and reached 21.06.The 50 share Nifty up by 128.70 points or 1.00% to settle at 13,055.15.
Nifty November 2020 futures closed at 13077.60 (LTP) on Tuesday, at a premium of 22.45 points over spot closing of 13055.15, while Nifty December 2020 futures ended at 13099.95 (LTP), at a premium of 44.80 points over spot closing. Nifty November futures saw an addition of 6,333 units, taking the total open interest (Contracts) to 1,44,246 units. The near month derivatives contract will expire on November 26, 2020 (Provisional).
From the most active contracts, ICICI Bank November 2020 futures traded at a premium of 1.50 points at 480.50 (LTP) compared with spot closing of 479.00. The numbers of contracts traded were 44,279 (Provisional).
Reliance Industries November 2020 futures traded at a premium of 5.05 points at 1976.10 (LTP) compared with spot closing of 1971.05. The numbers of contracts traded were 41,682 (Provisional).
HDFC Bank November 2020 futures traded at a discount of 5.20 points at 1438.80 (LTP) compared with spot closing of 1444.00. The numbers of contracts traded were 38,739 (Provisional).
Axis Bank November 2020 futures traded at a premium of 1.40 points at 620.40 (LTP) compared with spot closing of 619.00. The numbers of contracts traded were 30,638 (Provisional).
HDFC November 2020 futures traded at a premium of 6.50 points at 2226.50 (LTP) compared with spot closing of 2220.00. The numbers of contracts traded were 29,594 (Provisional).
Among, Nifty calls, 13100 SP from the November month expiry was the most active call with a contraction of 2,899 units open interests. Among Nifty puts, 13000 SP from the November month expiry was the most active put with an addition of 38,999 units open interests. The maximum OI outstanding for Calls was at 13500 SP (45,443 units) and that for Puts was at 12800 SP (59,546 units). The respective Support and Resistance levels of Nifty are: Resistance 13,096.83 -- Pivot Point 13,037.42 -- Support -- 12,995.73.
The Nifty Put Call Ratio (PCR) finally stood at (1.61) for November month contract. The top five scrips with highest PCR on Kotak Mahindra Bank (1.41), Bajaj Finance (1.29), Shriram Transport Finance Company (1.23), Cholamandalam Investment and Fin Co (1.23) and Eicher Motors (1.20).
Among most active underlying, Reliance Industries witnessed an addition of 332 units of Open Interest in the November month futures contract followed by HDFC Bank witnessed an addition of 7,702 units of Open Interest in the November month futures contract, Bajaj Finance witnessed an addition of 1,118 units of Open Interest in the November month futures contract, ICICI Bank witnessed an addition of 10,187 units of Open Interest in the November month futures contract and Axis Bank witnessed an addition of 3,321 units of Open Interest in the November month futures contract (Provisional).
