Nifty -- finished the Wednesday’s trade at fresh closing highs with the gains of over half a percent. Market made positive start, as investment through participatory notes (P-notes) in the domestic capital market rose to a 31-month high of Rs 87,132 crore at December-end, reflecting the bullish stance of FPIs. According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets - equity, debt, and hybrid securities - increased to Rs 87,132 crore till December-end from Rs 83,114 crore at the November-end. Further, index extended its gains with a private report that the ongoing key reforms such as sops for manufacturing, easier labour laws, wooing FDI inflows and privatisation will help improve productivity and support long-term growth at 7.5-8 per cent levels, which if played out well, can help India contribute 15 per cent of global GDP growth by FY2026. Index continued the gaining monument till the end of the session as Union Minister Piyush Goyal has said that Logistics team in the Ministry of Commerce and Industry is trying to integrate various means of transport, documentation & stakeholders through technology platforms, into a much-simplified way of working, which will enhance the Ease of Doing Business. Besides, Goyal said that this will truly give confidence to business community & stakeholders in logistics that Center & States are working as team.
Most of the sectoral indices ended in green except FMGC. The top gainers from the F&O segment were Apollo Tyre, Mindtree and Tata Motors. On the other hand, the top losers were L&TFH, Power Grid and Shree Cement. In the index option segment, maximum OI continues to be seen in the 14100 - 15,500 calls and 12,900 - 13,500 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 5.88% and reached 21.55. The 50 share Nifty up by 123.55 points or 0.85% to settle at 14,644.70.
Nifty January 2021 futures closed at 14633.00 (LTP) on Wednesday, at a discount of 11.70 points over spot closing of 14644.70, while Nifty February 2021 futures ended at 14672.00 (LTP), at a premium of 27.30 points over spot closing. Nifty January futures saw an addition of 9,928 units, taking the total open interest (Contracts) to 1,70,181 units. The near month derivatives contract will expire on January 28, 2021 (Provisional).
From the most active contracts, Reliance Industries January 2021 futures traded at a premium of 1.00 points at 2054.00 (LTP) compared with spot closing of 2053.00. The numbers of contracts traded were 57,010 (Provisional).
Tata Motors January 2021 futures traded at a premium of 0.40 points at 274.80 (LTP) compared with spot closing of 274.40. The numbers of contracts traded were 37,554 (Provisional).
SBIN January 2021 futures traded at a premium of 1.10 points at 303.30 (LTP) compared with spot closing of 302.20. The numbers of contracts traded were 18,615 (Provisional).
Infosys January 2021 futures traded at a premium of 2.75 points at 1341.60 (LTP) compared with spot closing of 1338.85. The numbers of contracts traded were 16,140 (Provisional).
Tata Steel January 2021 futures traded at a premium of 1.15 points at 688.65 (LTP) compared with spot closing of 687.50. The numbers of contracts traded were 15,837 (Provisional).
Among, Nifty calls, 15000 SP from the January month expiry was the most active call with an addition of 5,798 units open interests. Among Nifty puts, 14000 SP from the January month expiry was the most active put with an addition of 2,326 units open interests. The maximum OI outstanding for Calls was at 15000 SP (45,021units) and that for Puts was at 14000 SP (38,157 units). The respective Support and Resistance levels of Nifty are: Resistance 14,701.58 -- Pivot Point 14,609.57 -- Support --14,552.68.
The Nifty Put Call Ratio (PCR) finally stood at (1.32) for January month contract. The top five scrips with highest PCR on Vedanta (1.11), Tata Motors (1.06), UPL (0.96), TCS (0.94) and Cholamandalam Investment and Fin Co (0.82)
Among most active underlying, Tata Motors witnessed an addition of 914 units of Open Interest in the January month futures contract followed by Reliance Industries witnessed an addition of 3,490 units of Open Interest in the January month futures contract, Bajaj Finance witnessed an addition of 287 units of Open Interest in the January month futures contract, Tata Steel witnessed a contraction of 704 units of Open Interest in the January month futures contract and SBIN witnessed an addition of 802 units of Open Interest in the January month futures contract (Provisional).
