S&P CNX -- Nifty -- continued its northward journey on Tuesday by ending the session with marginal gains. Market made positive start, as traders found support with Niti Aayog vice chairman Rajiv Kumar’s statement that the government is committed to improving the ease of doing business and innovation ecosystem where every school student has access to the innovative tools and trends. However, in late morning trade, market turned volatile for little time, as the agitating farmers continued to block the Delhi-Meerut highway near Ghazipur amid 'Bharat Bandh' called by farmers over the three Farm Laws. But, index extended its gains till the end of the session, as Union Health Minister Harsh Vardhan stated that more than 100 startups have provided innovative products and solutions to overcome challenges posed by the pandemic. The street took note of report that companies raised Rs 73,215 crore from the capital markets in October, with private placement of debt instruments continuing to be the most-preferred route for funding. Finally, Nifty ended the day’s trade above 13375 mark.
Traders were seen piling positions in Bankex, IT and PSU Bank sector while selling was witnessed in Auto, FMGC and Media sector stocks. The top gainers from the F&O segment were PNB, Canara Bank and Bank of Baroda. On the other hand, the top losers were RBL Bank, Hindalco and Petronet LNG. In the index option segment, maximum OI continues to be seen in the 12500 - 13,700 calls and 11,900 - 13,500 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility increased by 3.28% and reached 18.62. The 50 share Nifty up by 37.20 points or 0.28% to settle at 13,392.95.
Nifty December 2020 futures closed at 13424.80 (LTP) on Tuesday, at a premium of 31.85 points over spot closing of 13392.95, while Nifty January 2021 futures ended at 13456.10 (LTP), at a premium of 63.15 points over spot closing. Nifty December futures saw an addition of 6,228 units, taking the total open interest (Contracts) to 1,69,305 units. The near month derivatives contract will expire on December 31, 2020 (Provisional).
From the most active contracts, Reliance Industries December 2020 futures traded at a premium of 11.85 points at 2004.30 (LTP) compared with spot closing of 1992.45. The numbers of contracts traded were 55,106 (Provisional).
SBIN December 2020 futures traded at a premium of 0.90 points at 271.65 (LTP) compared with spot closing of 270.75. The numbers of contracts traded were 28,418 (Provisional).
Infosys December 2020 futures traded at a premium of 8.00 points at 1161.00 (LTP) compared with spot closing of 1153.00. The numbers of contracts traded were 28,352 (Provisional).
Maruti Suzuki December 2020 futures traded at a premium of 16.00 points at 7770.00 (LTP) compared with spot closing of 7754.00. The numbers of contracts traded were 19,618 (Provisional).
HDFC Bank December 2020 futures traded at a premium of 6.45 points at 1381.35 (LTP) compared with spot closing of 1374.90. The numbers of contracts traded were 17,829 (Provisional).
Among, Nifty calls, 13500 SP from the December month expiry was the most active call with a contraction of 212 units open interests. Among Nifty puts, 13000 SP from the December month expiry was the most active put with an addition of 4,892 units open interests. The maximum OI outstanding for Calls was at 13500 SP (26,854 units) and that for Puts was at 13000 SP (48,112 units). The respective Support and Resistance levels of Nifty are: Resistance 13,448.58 -- Pivot Point 13,379.82 -- Support -- 13,324.18.
The Nifty Put Call Ratio (PCR) finally stood at (1.84) for December month contract. The top five scrips with highest PCR on Asian Paints (1.47), SBIN (1.19), Tata steel (1.09), Bajaj Finserv (0.98) and Canara Bank (0.95).
Among most active underlying, Reliance Industries witnessed an addition of 3,571 units of Open Interest in the December month futures contract followed SBIN witnessed an addition of 2,821 units of Open Interest in the December month futures contract, Infosys witnessed an addition of 3,391 units of Open Interest in the December month futures contract, Bajaj Finance witnessed a contraction of 91 units of Open Interest in the December month futures contract and Maruti Suzuki witnessed an addition of 2,375 units of Open Interest in the December month futures contract (Provisional).
