S&P CNX -- Nifty -- ended the session in green territory on Tuesday. Market made gap up opening, as India continued to record steady decline in the number of fresh coronavirus cases with the daily toll slipping below the 200,000-mark. India's fresh Covid cases stood at 1.95 lakh. It is the lowest level of cases in the last 41 days. Further, market continued its trade in green zone, as commerce and industry ministry said that foreign direct investment (FDI) equity inflow into the country grew 19 per cent to $59.64 billion during 2020-21 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business. However, in late afternoon session, market turn volatile for little time, after British brokerage cut India's FY22 GDP growth estimate by a sharp 0.80 per cent to 9.2 per cent, saying the economic impact of the second wave of infections has been deeper than initially expected. Finally, Nifty ended the session above 15200 mark. Some support came with the report that India and Israel are implementing the ‘INDO-ISRAEL Agricultural Project Centres of Excellence’ and ‘INDO-ISRAEL’ Villages of Excellence’. The work program will aim to grow existing Centres of Excellence, establish new centers, increase CoE’s value chain, bring the Centres of Excellence into the self-sufficient mode, and encourage private sector companies and collaboration.
Traders were seen piling positions in Auto, FMGC and IT sector while selling was witnessed in Bank, PSU Bank and PVT Bank sector stocks. The top gainers from the F&O segment were CONCOR, Colgate-Palmolive and Max Financial Services. On the other hand, the top losers were Cholamandalam Investment, BEL and Amara Raja Batteries. 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 decreased by 1.50% and reached 18.84. The 50 share Nifty up by 10.75 points or 0.07% to settle at 15,208.45.
Nifty May 2021 futures closed at 15233.00 (LTP) on Tuesday, at a premium of 24.55 points over spot closing of 15208.45, while Nifty June 2021 futures ended at 15267.95 (LTP), at a premium of 59.50 points over spot closing. Nifty May futures saw an addition of 1,503 units, taking the total open interest (Contracts) to 1,27,093 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 3.60 points at 1967.60 (LTP) compared with spot closing of 1964.00. The numbers of contracts traded were 51,335 (Provisional).
SBIN May 2021 futures traded at a premium of 0.65 points at 414.75 (LTP) compared with spot closing of 414.10. The numbers of contracts traded were 40,480 (Provisional).
Tata Steel May 2021 futures traded at a premium of 1.30 points at 1106.65 (LTP) compared with spot closing of 1105.35. The numbers of contracts traded were 28,968 (Provisional).
ICICI Bank May 2021 futures traded at a discount of 0.20 points at 649.05 (LTP) compared with spot closing of 649.25. The numbers of contracts traded were 27,022 (Provisional).
HDFC Bank May 2021 futures traded at a premium of 3.10 points at 1484.10 (LTP) compared with spot closing of 1481.00. The numbers of contracts traded were 24,599 (Provisional).
Among, Nifty calls, 15300 SP from the May month expiry was the most active call with an addition of 15,006 units open interests. Among Nifty puts, 15200 SP from the May month expiry was the most active put with an addition of 15,689 units open interests. The maximum OI outstanding for Calls was at 15500 SP (69,817 units) and that for Puts was at 15000 SP (55,783 units). The respective Support and Resistance levels of Nifty are: Resistance 15,280.40 -- Pivot Point 15,221.90 -- Support -- 15,149.95.
The Nifty Put Call Ratio (PCR) finally stood at (1.05) for May month contract. The top five scrips with highest PCR on Mphasis (2.36), Asian Paints (1.15), Pidilite Industries (1.12), Titan Company (1.08) and Bajaj Auto (1.05) .
Among most active underlying, Tata Steel witnessed a contraction of 1,524 units of Open Interest in the May month futures contract, Reliance Industries witnessed an addition of 7,374 units of Open Interest in the May month futures contract, SBIN witnessed a contraction of 5,525 units of Open Interest in the May month futures contract, ICICI Bank witnessed an addition of 3,169 units of Open Interest in the May month futures contract and HDFC Bank witnessed a contraction of 1,176 units of Open Interest in the May month futures contract (Provisional).
