S&P CNX -- Nifty -- ended the session in green territory on Monday. Market made optimistic start, after finance ministry said that the Indian economy is likely to do better than the projection of 8 per cent shrinkage in the current fiscal as economic activity gathers pace with mild stiffening of pandemic curve and the rollout of vaccines. Market maintained its gains as FICCI's Overall Business Confidence Index has witnessed a decadal high of 74.2 in the current round on account of improvement in present conditions as well as expectations.
However, market trimmed some of its gains, as reversing the two-month buying streak, foreign portfolio investors (FPIs) pulled out Rs 5,156 crore from Indian markets in the first week of March amid profit booking and rising bond yields in the US. According to FPI statistics available with depositories, overseas investors pulled out a net Rs 881 crore from equities and Rs 4,275 crore from the debt segment between March 1- 5, taking the total net withdrawals to Rs 5,156 crore. In the last leg of trade, market managed to end the session in green territory, as finance ministry has said positive GDP growth in Q3 of FY21 - for the first time since the onset of the pandemic - adds to the positive sentiment as the economy is set to close the year with activity levels higher than measured in the second advance estimates of GDP.
Traders were seen piling positions in Bankex, IT and Media sector while selling was witnessed in Auto, FMGC and Realty sector stocks. The top gainers from the F&O segment were UPL, PFC and GAIL. On the other hand, the top losers were Muthoot Finance, TVS Motor and Apollo Tyres. 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 3.46% and reached 24.68. The 50 share Nifty up by 18.10 points or 0.12% to settle at 14,956.20.
Nifty March 2021 futures closed at 14977.45 (LTP) on Monday, at a premium of 21.25 points over spot closing of 14956.20, while Nifty April 2021 futures ended at 15057.55 (LTP), at a premium of 101.35 points over spot closing. Nifty March futures saw an addition of 4,888 units, taking the total open interest (Contracts) to 1,76,118 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 4.05 points at 2197.05 (LTP) compared with spot closing of 2193.00. The numbers of contracts traded were 50,875 (Provisional).
SBIN March 2021 futures traded at a premium of 0.90 points at 391.00 (LTP) compared with spot closing of 390.10. The numbers of contracts traded were 19,696 (Provisional).
ICICI Bank March 2021 futures traded at a premium of 0.60 points at 609.10 (LTP) compared with spot closing of 608.50. The numbers of contracts traded were 16,648 (Provisional).
HDFC Bank March 2021 futures traded at a premium of 6.60 points at 1528.60 (LTP) compared with spot closing of 1522.00. The numbers of contracts traded were 15,382 (Provisional).
Axis Bank March 2021 futures traded at a premium of 1.95 points at 746.95 (LTP) compared with spot closing of 745.00. The numbers of contracts traded were 15,229 (Provisional).
Among, Nifty calls, 15500 SP from the March month expiry was the most active call with an addition of 1,735 units open interests. Among Nifty puts, 14500 SP from the March month expiry was the most active put with an addition of 1,035 units open interests. The maximum OI outstanding for Calls was at 16000 SP (33,843 units) and that for Puts was at 14000 SP (50,729 units). The respective Support and Resistance levels of Nifty are: Resistance 15,071.60 -- Pivot Point 14,995.75 -- Support -- 14,880.35.
The Nifty Put Call Ratio (PCR) finally stood at (1.66) for March month contract. The top five scrips with highest PCR on PVR (0.98), Indus Tower (0.97), Hero Motocorp (0.92), Grasim Industries (0.90) and Muthoot Finance (0.89).
Among most active underlying, Reliance Industries witnessed an addition of 1,944 units of Open Interest in the March month futures contract followed by Tata Motors witnessed an addition 749 units of Open Interest in the March month futures contract, SBIN witnessed a contraction of 768 units of Open Interest in the March month futures contract, ICICI Bank witnessed an addition of 1,515 units of Open Interest in the March month futures contract and Axis Bank witnessed an addition of 1,457 units of Open Interest in the March month futures contract (Provisional).
