Local benchmark S&P CNX -- Nifty -- ended Wednesday’s trade below 15250 mark. Key index begun day on a somber note as India continues to be second-most-affected globally, and ranks 17th among worst-hit nations by covid active cases. Market remained in red zone even after ICRA ratings report that after two consecutive quarters of contraction, India's GDP is set to revert to the growth territory in the October-December 2020 period compared to the year-ago period. It said private consumption and government spending will help the economy post a turnaround during the December quarter and the GDP will grow 0.7 per cent. In late afternoon session, market trimmed some losses to trade near neutral line, as Reserve Bank of India (RBI) came out with the draft guidelines for allowing derivatives trading in the credit default swaps (CDS) in over-the-counter (OTC) markets and on recognised stock exchanges in the country. But, in late afternoon session, market extended its losses to touched intraday low point with Rating agency Crisil expects stressed assets of non-banking financial companies (NBFCs) to touch Rs 1.5-1.8 lakh crore or 6-7.5% of the assets under management (AUM) by the end of the current financial year. Finally, Nifty finished the Wednesday’s trade with the cut of above half a percent.
Most of the sectoral indices ended in red except Media, Metal and PSU Bank. The top gainers from the F&O segment were Dr. Lal PathLabs, Motherson Sumi Systems and Bank of Baroda. On the other hand, the top losers were Page Industries, Lupin and Info Edge (India). In the index option segment, maximum OI continues to be seen in the 14100 - 16200 calls and 13,700 - 14,500 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 1.26% and reached 21.51. The 50 share Nifty down by 104.55 points or 0.68% to settle at 15,208.90.
Nifty February 2021 futures closed at 15190.55 (LTP) on Wednesday, at a discount of 18.35 points over spot closing of 15208.90, while Nifty March 2021 futures ended at 15243.80 (LTP), at a premium of 34.90 points over spot closing. Nifty February futures saw an addition of 0.01 million (mn) units, taking the total open interest (OI) to 1,54,324 mn units. The near month derivatives contract will expire on February 25, 2021 (Provisional).
From the most active contracts, Reliance Industries February 2021 futures traded at a premium of 4.15 points at 2083.35 (LTP) compared with spot closing of 2079.20. The numbers of contracts traded were 56,806 (Provisional).
SBIN February 2021 futures traded at a premium of 1.40 points at 414.80 (LTP) compared with spot closing of 413.40. The numbers of contracts traded were 38,277(Provisional).
ICICI Bank February 2021 futures traded at a premium of 1.55 points at 656.05 (LTP) compared with spot closing of 654.50. The numbers of contracts traded were 25,064 (Provisional).
PNB February 2021 futures traded at a premium of 0.10 points at 41.45 (LTP) compared with spot closing of 41.35. The numbers of contracts traded were 20,688 (Provisional).
Indusind Bank February 2021 futures traded at a premium of 0.80 points at 1032.90 (LTP) compared with spot closing of 1032.10. The numbers of contracts traded were 16,259 (Provisional).
Among, Nifty calls, 15300 SP from the February month expiry was the most active call with an addition of 7,360 units open interests. Among Nifty puts, 15000 SP from the February month expiry was the most active put with an addition of 5,576 units open interests. The maximum OI outstanding for Calls was at 16000 SP (31,351 units) and that for Puts was at 14000 SP (39,474 units). The respective Support and Resistance levels of Nifty are: Resistance 15,291.88 -- Pivot Point 15,231.32 -- Support -- 15,148.33
The Nifty Put Call Ratio (PCR) finally stood at (1.31) for February month contract. The top five scrips with highest PCR on Axis Bank (1.27), SBIN (1.21), ICICI Bank (1.09), Vedanta (1.03) and Bajaj Finance (1.00).
Among most active underlying, SBIN witnessed an addition of 1,143 units of Open Interest in the February month futures contract followed by Reliance Industries witnessed an addition of 2,412 units of Open Interest in the February month futures contract, Adani Ports witnessed an addition of 5,459 units of Open Interest in the February month futures contract, Tata Motors witnessed an addition of 164 units of Open Interest in the February month futures contract and ICICI Bank witnessed an addition of 5,566 units of Open Interest in the February month futures contract (Provisional).
