Snapping its three days winning streak, key benchmark -- Nifty -- ended the day’s trade below its crucial 15100 levels. Market made negative start, as India's count of active cases has jumped to 175,044. The country continues to be second-most-affected globally, and ranks 13th among worst-hit nations by active cases. Market continued its trade below neutral line, even after government has given green signal to a pact between India and Fiji. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the signing of a Memorandum of Understanding (MoU) between the Ministry of Agriculture of Indian government and Ministry of Agriculture of the Republic of Fiji in this regard. The MoU between India and Fiji provides for cooperation in various areas including promotion of joint ventures between private sectors of both countries.
Traders overlooked report that income tax department it has issued over Rs 1.98 lakh crore worth refunds to over 1.95 crore taxpayers so far this fiscal. Of this, personal income tax refunds of Rs 70,572 crore have been issued to over 1.92 crore taxpayers, and corporate tax refunds of Rs 1.27 lakh crore have been issued in 2.19 lakh cases. In late afternoon session, market added more losses to end the session with the cut of above a percent.
Most of the sectoral indices ended in red except Media and Realty. The top gainers from the F&O segment were CONCOR, BHEL and AU Small Finance Bank. On the other hand, the top losers were SAIL, JSW Steel and Jindal Steel & Power. 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 increased by 9.32% and reached 24.15. The 50 share Nifty down by 164.85 points or 1.08% to settle at 15,080.75.
Nifty March 2021 futures closed at 15108.00 (LTP) on Thursday, at a premium of 27.25 points over spot closing of 15080.75, while Nifty April 2021 futures ended at 15180.00 (LTP), at a premium of 99.25 points over spot closing. Nifty March futures saw an addition of 36,644 units, taking the total open interest (Contracts) to 1,73,811 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 5.45 points at 2179.45 (LTP) compared with spot closing of 2174.00. The numbers of contracts traded were 51,643 (Provisional).
Infosys March 2021 futures traded at a premium of 3.40 points at 1338.00 (LTP) compared with spot closing of 1334.60. The numbers of contracts traded were 22,555 (Provisional).
ICICI Bank March 2021 futures traded at a premium of 1.50 points at 623.30 (LTP) compared with spot closing of 621.80. The numbers of contracts traded were 21,045 (Provisional).
SBIN March 2021 futures traded at a premium of 2.20 points at 399.00 (LTP) compared with spot closing of 396.80. The numbers of contracts traded were 19,936 (Provisional).
Tata Steel March 2021 futures traded at a premium of 1.35 points at 758.95 (LTP) compared with spot closing of 757.60. The numbers of contracts traded were 19,333 (Provisional).
Among, Nifty calls, 15500 SP from the March month expiry was the most active call with an addition of 585 units open interests. Among Nifty puts, 15000 SP from the March month expiry was the most active put with an addition of 4,377 units open interests. The maximum OI outstanding for Calls was at 16000 SP (29,352 units) and that for Puts was at 14000 SP (43,168 units). The respective Support and Resistance levels of Nifty are: Resistance 15,195.33 -- Pivot Point 15,087.77 -- Support -- 14,973.18.
The Nifty Put Call Ratio (PCR) finally stood at (1.75) for March month contract. The top five scrips with highest PCR on PVR (1.10), Vedanta (0.95), Grasim Industries (0.94), Pfizer (0.85) and IDFC First Bank (0.84).
Among most active underlying, Reliance Industries witnessed an addition of 8,938 units of Open Interest in the March month futures contract followed by Tata Motors witnessed an addition 834 units of Open Interest in the March month futures contract, Adani Ports and Special Economic Zone witnessed an addition of 366 units of Open Interest in the March month futures contract, Tata Steel witnessed a contraction of 402 units of Open Interest in the March month futures contract and SBIN witnessed an addition of 2,996 units of Open Interest in the March month futures contract (Provisional).
