NSE gauge -- Nifty50 -- extended its gains for the third day and ended the Thursday’s trade with gains of above half a percent. Market made optimistic start, as Reserve Bank of India (RBI) announced yet another round of Open Market Operations (OMO) or simultaneous purchase and sale of gilts on March 4. Under this, the RBI will buy Rs 15,000 crore worth bonds in four different papers and sell Rs 150,000 crore worth bonds in two different securities. Market continued its gaining monument till the end of the session, as the Central government has lifted the embargo placed granting businesses to private banks, which is expected to enhance customer convenience, spur competition and higher efficiency in standards of customer services. In a statement, the Department of Financial Services (DFS) said that 'The Government has lifted the embargo on private banks (only a few were permitted earlier) for the conduct of Government-related banking transactions such as taxes and other revenue payment facilities, pension payments, small savings schemes, etc.' Finally, Nifty ended the trade above 15000 mark, as Moody's projected India's growth for the next financial year beginning April 1, to 13.7 percent, from 10.8 percent estimated earlier, on the back of normalisation of activity and growing confidence in the market with the rollout of COVID-19 vaccine.
Most of the sectoral indices ended in green except FMGC and Financial Services. The top gainers from the F&O segment were Tata Chemicals, BHEL and Coal India. On the other hand, the top losers were Marico, ICICI Bank and Nestle India. In the index option segment, maximum OI continues to be seen in the 15200 - 16300 calls and 13,700 - 14,700 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 5.27% and reached 22.89. The 50 share Nifty up by 115.35 points or 0.77% to settle at 15,097.35.
Nifty March 2021 futures closed at 15173.45 (LTP) on Thursday, at a premium of 76.10 points over spot closing of 15097.35, while Nifty April 2021 futures ended at 15250.00 (LTP), at a premium of 152.65 points over spot closing. Nifty March futures saw an addition of 28,298 units, taking the total open interest (Contracts) to 1,11,154 units. The near month derivatives contract will expire on March 25, 2021 (Provisional).
From the most active contracts, Reliance Industries March 2021 futures traded at a premium of 15.00 points at 2162.00 (LTP) compared with spot closing of 2147.00. The numbers of contracts traded were 85,666 (Provisional).
ICICI Bank March 2021 futures traded at a premium of 4.65 points at 633.65 (LTP) compared with spot closing of 629.00. The numbers of contracts traded were 39,114 (Provisional).
Maruti Suzuki March 2021 futures traded at a premium of 55.95 points at 6982.00 (LTP) compared with spot closing of 6926.05. The numbers of contracts traded were 28,597 (Provisional).
Infosys March 2021 futures traded at a premium of 9.75 points at 1284.75 (LTP) compared with spot closing of 1275.00. The numbers of contracts traded were 26,033 (Provisional).
HDFC Bank March 2021 futures traded at a premium of 5.75 points at 1611.15 (LTP) compared with spot closing of 1605.40. The numbers of contracts traded were 25,321 (Provisional).
Among, Nifty calls, 16000 SP from the March month expiry was the most active call with a contarction of 7,019 units open interests. Among Nifty puts, 15000 SP from the March month expiry was the most active put with an addition of 3,705 units open interests. The maximum OI outstanding for Calls was at 16000 SP (25,197 units) and that for Puts was at 14000 SP (39,709 units). The respective Support and Resistance levels of Nifty are: Resistance 15,160.78 -- Pivot Point 15,113.07 -- Support -- 15,049.63.
The Nifty Put Call Ratio (PCR) finally stood at (1.97) for March month contract. The top five scrips with highest PCR on Aarti Industries (2.94), Vedanta (1.12),UBL (1.05), PVR (1.04) and Mindtree (1.02).
Among most active underlying, Reliance Industries witnessed an addition of 26,766 units of Open Interest in the March month futures contract, Tata Motors witnessed an addition of 3,684 units of Open Interest in the March month futures contract, ICICI Bank witnessed an addition of 13,456 units of Open Interest in the March month futures contract, SBIN witnessed an addition of 4,814 units of Open Interest in the March month futures contract and Bharti Airtel witnessed an addition of 10,515 units of Open Interest in the March month futures contract (Provisional).
