S&P CNX -- Nifty -- ended the Monday’s session in green zone. Market made positive start, as India reported Covid-19 cases below the 250,000-mark for the second consecutive. The fresh caseload stood at 2.4 lakh. Amid a drop in cases, a few states have hinted at the possibility of easing lockdown from next month onwards. Index maintained its gains in positive territory, as industry body Assocham has demanded from the government a 'concentrated and right kind' of relief package for MSME sector, which was most affected by covid-19 pandemic. Traders ignored that rating agency ICRA said slackening economic momentum driven by the second wave of Covid-19 infections in India has emerged as a concern with bruised sentiment, high healthcare costs and fuel expenses likely to limit discretionary purchases in the immediate term. Finally, Nifty managed to end the session above neutral line with a private report stating that the RBI surprised the Centre with a record Rs 99,122 crore in surplus transfer for FY21 and this will help the government tide over the revenue losses from lockdowns and extend more support to the pandemic hit industries and to the poor people.
Most of the sectoral indices ended in green except FMGC and Metal. The top gainers from the F&O segment were CONCOR, PNB and IOC. On the other hand, the top losers were JSW Steel, Torrent Power and Shree Cements. In the index option segment, maximum OI continues to be seen in the 14250 15200 calls and 13,600 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 0.26% and reached 19.13. The 50 share Nifty up by 22.40 points or 0.15% to settle at 15,197.70.
Nifty May 2021 futures closed at 15190.00 (LTP) on Monday, at a discount of 7.70 points over spot closing of 15197.70, while Nifty June 2021 futures ended at 15216.95 (LTP), at a premium of 19.25 points over spot closing. Nifty May futures saw an addition of 1,696 units, taking the total open interest (Contracts) to 1,34,153 units. The near month derivatives contract will expire on May 27, 2021 (Provisional).
From the most active contracts, SBIN May 2021 futures traded at a discount of 0.30 points at 410.70 (LTP) compared with spot closing of 411.00. The numbers of contracts traded were 93,285(Provisional).
Tata Steel May 2021 futures traded at a premium of 1.40 points at 1092.90 (LTP) compared with spot closing of 1091.50. The numbers of contracts traded were 34,210 (Provisional).
Reliance Industries May 2021 futures traded at a premium of 3.85 points at 1988.90 (LTP) compared with spot closing of 1985.05. The numbers of contracts traded were 34,164 (Provisional).
ICICI Bank May 2021 futures traded at a discount of 0.95 points at 644.10 (LTP) compared with spot closing of 645.05. The numbers of contracts traded were 29,914 (Provisional).
JSW Steel May 2021 futures traded at a premium of 0.75 points at 683.25 (LTP) compared with spot closing of 682.50. The numbers of contracts traded were 28,051 (Provisional).
Among, Nifty calls, 15300 SP from the May month expiry was the most active call with an addition of 18,425 units open interests. Among Nifty puts, 15200 SP from the May month expiry was the most active put with an addition of 12,554 units open interests. The maximum OI outstanding for Calls was at 15500 SP (64,885 units) and that for Puts was at 15000 SP (67,992 units). The respective Support and Resistance levels of Nifty are: Resistance 15,254.15 -- Pivot Point 15,199.80 -- Support --15,143.35.
The Nifty Put Call Ratio (PCR) finally stood at (1.17) for May month contract. The top five scrips with highest PCR on Mphasis (2.41), Pidilite Industries (1.04), Indusind Bank (1.01), Bajaj Auto (1.01) and Ashok Leyland (0.96).
Among most active underlying, SBIN witnessed a contraction of 251 units of Open Interest in the May month futures contract, Tata Steel witnessed a contraction of 1,004 units of Open Interest in the May month futures contract, ICICI Bank witnessed an addition of 4,012 units of Open Interest in the May month futures contract, JSW Steel witnessed an addition of 735 units of Open Interest in the May month futures contract and Axis Bank witnessed an addition of 1,260 units of Open Interest in the May month futures contract (Provisional).
