NSE gauge -- Nifty50 -- ended the Monday’s session in red zone, with the cut above of half a percent. Market made cautious start and soon entered into red zone, as government data showed that India's retail inflation rose to 5.03 per cent in February, mainly on account of higher food prices. Besides, according to the data released by the Ministry of Statistics and Programme Implementation (MoSPI), the Index of Industrial Production (IIP) contracted 1.6 per cent for January 2021. Further, market extended its losses, as foreign portfolio investors (FPIs) were net sellers to the tune of Rs 7,013 crore so far this month in the Indian markets on profit-booking as jitters in global bond markets spooked investors. As per depositories data, FPIs pulled out Rs 531 crore from equities and Rs 6,482 crore from the debt segment between Mar 1-13. Traders overlooked Reserve Bank of India (RBI) in its latest data has showed that bank credit grew 6.36 per cent to Rs 106.41 trillion, while deposits increased by 11.41 per cent to Rs 146.25 trillion in the fortnight ended January 15. In the fortnight ended January 17, 2020, bank credit was at Rs 100.04 trillion and deposits stood at Rs 131.27 trillion. Market remained under selling pressure till the end of the session, as the Wholesale price-based inflation (WPI) in February rose to its 27-month high to 4.17 percent as against 2.03 percent a month ago in January. This is a 27-month high. Finally, market ended the session below its 15,000 mark.
Most of the sectoral indices ended in red except IT, Metal and PSU Bank. The top gainers from the F&O segment were SAIL, COFORGE and Dr Lal PathLabs. On the other hand, the top losers were Shriram Transport Finance, Trent and AU Small Finance Bank. 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 2.21% and reached 21.23. The 50 share Nifty down by 101.45 points or 0.67% to settle at 14,929.50.
Nifty March 2021 futures closed at 14947.90 (LTP) on Monday, at a premium of 18.40 points over spot closing of 14929.50, while Nifty April 2021 futures ended at 15024.00 (LTP), at a premium of 94.50 points over spot closing. Nifty March futures saw an addition of 2,149 units, taking the total open interest (Contracts) to 1,55,086 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 8.95 points at 2113.95 (LTP) compared with spot closing of 2105.00. The numbers of contracts traded were 32,765 (Provisional).
SBIN March 2021 futures traded at a premium of 2.00 points at 387.60 (LTP) compared with spot closing of 385.60. The numbers of contracts traded were 23,468 (Provisional).
ICICI Bank March 2021 futures traded at a premium of 2.30 points at 605.95 (LTP) compared with spot closing of 603.65. The numbers of contracts traded were 21,077 (Provisional).
Axis Bank March 2021 futures traded at a premium of 1.40 points at 747.00 (LTP) compared with spot closing of 745.60. The numbers of contracts traded were 16,562 (Provisional).
HDFC Bank March 2021 futures traded at a premium of 6.65 points at 1537.00 (LTP) compared with spot closing of 1530.35. The numbers of contracts traded were 14,300 (Provisional).
Among, Nifty calls, 15000 SP from the March month expiry was the most active call with an addition of 3,959 units open interests. Among Nifty puts, 14500 SP from the March month expiry was the most active put with an addition of 3,550 units open interests. The maximum OI outstanding for Calls was at 16000 SP (37,865 units) and that for Puts was at 14000 SP (37,665 units). The respective Support and Resistance levels of Nifty are: Resistance 15,069.98 -- Pivot Point 14,907.92 -- Support -- 14,767.43.
The Nifty Put Call Ratio (PCR) finally stood at (1.30) for March month contract. The top five scrips with highest PCR on Muthoot Finance (0.96), Indus Tower (0.92), SAIL (0.86), PVR (0.83) and Vedanta (0.75).
Among most active underlying, SBIN witnessed an addition of 330 units of Open Interest in the March month futures contract followed ICICI Bank witnessed an addition of 2,579 units of Open Interest in the March month futures contract, Reliance Industries witnessed an addition of 923 units of Open Interest in the March month futures contract, Bajaj Finance witnessed an addition of 1,003 units of Open Interest in the March month futures contract and Tata Motors witnessed a contraction of 63 units of Open Interest in the March month futures contract (Provisional).
