National Stock Exchange (NSE) -- Nifty -- extended its gaining momentum on Thursday and ended the day’s trade with the gains of above half a percent. Market made a positive start with a report that Roche India announced that the Central Drugs Standards Control Organisation (CDSCO) has provided an Emergency Use Authorisation (EUA) for its antibody cocktail Casirivimab and Imdevimab in India to treat COVID-19 patients. Market maintained its gains with US President Joe Biden's decision to back waiving intellectual property rights on vaccines. This will quicken the vaccination process enabling countries like India to come out of the pandemic faster.
Index extended its gains in late afternoon session, as in order to prevent the COVID-induced health crisis from turning into a full-blown economic catastrophe, Finance Minister Nirmala Sitharaman has asked multilateral lending institutions like the Asian Development Bank (ADB) to extend support to developing countries. Some also came after RBI Governor Shaktikanta Das hoped that a normal Southwest monsoon will have a soothing impact on inflation pressures and ruled out any wide variations in medium-term inflation forecast from what was given in April, despite admitting to price pressures both from food items and input prices.
Most of the sectoral indices ended in green except Pharma, PSU Bank and Private Bank. The top gainers from the F&O segment were Coforge, Hindalco and Mphasis. On the other hand, the top losers were PNB, Tata Chemicals and Bandhan 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 increased by 0.33% and reached 22.04. The 50 share Nifty up by 106.95 points or 0.73% to settle at 14,724.80.
Nifty May 2021 futures closed at 14780.45 (LTP) on Thursday, at a premium of 55.65 points over spot closing of 14724.80, while Nifty June 2021 futures ended at 14818.00 (LTP), at a premium of 93.20 points over spot closing. Nifty May futures saw an addition of 9,657 units, taking the total open interest (Contracts) to 1,54,518 units. The near month derivatives contract will expire on May 27, 2021 (Provisional).
From the most active contracts, Tata Steel May 2021 futures traded at a premium of 7.15 points at 1110.15 (LTP) compared with spot closing of 1103.00. The numbers of contracts traded were 60,202 (Provisional).
Reliance Industries May 2021 futures traded at a premium of 5.85 points at 1937.85 (LTP) compared with spot closing of 1932.00. The numbers of contracts traded were 27,113 (Provisional).
Cipla May 2021 futures traded at a premium of 3.10 points at 888.60 (LTP) compared with spot closing of 885.50. The numbers of contracts traded were 26,131 (Provisional).
SBIN May 2021 futures traded at a premium of 0.90 points at 356.75 (LTP) compared with spot closing of 355.85. The numbers of contracts traded were 22,242 (Provisional).
Hindalco May 2021 futures traded at a premium of 1.65 points at 389.55 (LTP) compared with spot closing of 387.90. The numbers of contracts traded were 17,818 (Provisional).
Among, Nifty calls, 15000 SP from the May month expiry was the most active call with an addition of 606 units open interests. Among Nifty puts, 14000 SP from the May month expiry was the most active put with a contraction of 501 units open interests. The maximum OI outstanding for Calls was at 15000 SP (35,680 units) and that for Puts was at 14000 SP (46,094 units). The respective Support and Resistance levels of Nifty are: Resistance 14,775.30 -- Pivot Point 14,693.40 -- Support -- 14,642.90.
The Nifty Put Call Ratio (PCR) finally stood at (1.50) for May month contract. The top five scrips with highest PCR on Mphasis (2.65), Page Industries (2.33), PVR (1.24), IRCTC (1.08) and Coforge (1.06).
Among most active underlying, Tata Steel witnessed an addition of 3,565 units of Open Interest in the May month futures contract, Coforge witnessed an addition of 1,485 units of Open Interest in the May month futures contract, JSW Steel witnessed an addition of 641 units of Open Interest in the May month futures contract, Cipla witnessed an addition of 3,431 units of Open Interest in the May month futures contract and Hindalco witnessed an addition of 888 units of Open Interest in the May month futures contract (Provisional).
Download APP
