Local benchmark S&P CNX -- Nifty -- snapped four days winning streak on last day of the trading week and ended the session with cut of above one and half a percent. Market made a negative start, as India reported a massive surge of 386,888 cases, Worldometer showed. The cumulative caseload stands at 18,754,984 and the death toll from the virus has reached 208,313. India now has nearly 3.2 million active cases. Index continued its weak trade, as private report stating that there has been an over 28 per cent increase in suspected fraudulent digital transaction attempts against businesses originating from India in the pandemic year. Traders failed to draw any sense of relief on report that Ministry of Finance, Government of India has decided to provide an additional amount of upto Rs 15,000 crore to States as interest free 50 year loan for spending on capital projects. The Department of Expenditure has issued fresh guidelines in this regard on the ‘Scheme of Financial Assistance to States for Capital Expenditure’ for the financial year 2021-22. In late afternoon session, market added more losses to touch intraday low point with the Centre for Monitoring Indian Economy’s statement that the unemployment rate in India has shot up in the first two weeks of April and the monthly unemployment rate is likely to be close to 8% compared to 6.5% in March with lower absorption of labour in the market. Finally, Nifty ended the session below 14650 mark.
Most of the sectoral indices ended in red except Pharma. The top gainers from the F&O segment were CONCOR, SUN TVand SAIL. On the other hand, the top losers were PVR, Shriram Transport Finance Company and AU Small Finance Bank. In the index option segment, maximum OI continues to be seen in the 14700 -16700 calls and 13,900 -14,600 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 1.19% and reached 23.03. The 50 share Nifty down by 263.80 points or 1.77% to settle at 14,631.10.
Nifty May 2021 futures closed at 14660.35 (LTP) on Friday, at a premium of 29.25 points over spot closing of 14631.10, while Nifty June 2021 futures ended at 14700.00 (LTP), at a premium of 68.90 points over spot closing. Nifty May futures saw an addition of 18,026 units, taking the total open interest (Contracts) to 1,44,067 units. The near month derivatives contract will expire on May 27, 2021 (Provisional).
From the most active contracts, Reliance Industries May 2021 futures traded at a premium of 11.10 points at 2007.00 (LTP) compared with spot closing of 1995.90. The numbers of contracts traded were 38,593(Provisional).
Tata Steel May 2021 futures traded at a premium of 4.35 points at 1029.95 (LTP) compared with spot closing of 1025.60. The numbers of contracts traded were 34,390 (Provisional).
SBIN May 2021 futures traded at a premium of 0.55 points at 352.85 (LTP) compared with spot closing of 352.30. The numbers of contracts traded were 31,677 (Provisional).
HDFC Bank May 2021 futures traded at a premium of 6.00 points at 1418.90 (LTP) compared with spot closing of 1412.90. The numbers of contracts traded were 25,229 (Provisional).
Bajaj Finance May 2021 futures traded at a premium of 2.40 points at 5451.40 (LTP) compared with spot closing of 5449.00. The numbers of contracts traded were 24,631 (Provisional).
Among, Nifty calls, 15500 SP from the May month expiry was the most active call with an addition of 1,916 units open interests. Among Nifty puts, 14000 SP from the May month expiry was the most active put with an addition of 2,220 units open interests. The maximum OI outstanding for Calls was at 15000 SP (29,436 units) and that for Puts was at 14000 SP (42,176 units). The respective Support and Resistance levels of Nifty are: Resistance 14,790.47 -- Pivot Point 14,696.08 -- Support -- 14,536.72.
The Nifty Put Call Ratio (PCR) finally stood at (1.58) for May month contract. The top five scrips with highest PCR on Mphasis (5.81), Shree Cement (2.23), PVR (1.37), Gujarat Gas (1.29) and Bajaj Finance (1.16).
Among most active underlying, Tata Steel witnessed a contraction of 319 units of Open Interest in the May month futures contract, JSW Steel witnessed an addition of 614 units of Open Interest in the May month futures contract, HDFC Bank witnessed an addition of 4,521 units of Open Interest in the May month futures contract, Reliance Industries witnessed an addition of 6,380 units of Open Interest in the May month futures contract and ICICI Bank witnessed an addition of 148 units of Open Interest in the May month futures contract (Provisional).
