The local benchmark -- Nifty -- ended the trade in green zone on Thursday. Market made cautious start, as India recorded over 211,000 new Covid infections, while deaths from the disease rose by 3,842. The country's total cases now stand at 27.36 million. Soon, market entered into positive territory with private report that the government may at the beginning of the unlock phase announce another stimulus package for the most hit sectors such as small business and self-employed, with the world's worst pandemic outbreak scarring nascent economic recovery. Traders overlooked Reserve Bank of India’s statement that the second wave of Covid-19 pandemic has triggered revision of growth projections for the current financial year with consensus gravitating towards its earlier forecast of 10.5 per cent. In late afternoon trade, market turned red for little time and soon regained its positive terrain to touch its intraday high point, as traders found some solace with report that Prime Minister Narendra Modi and French President Emmanuel Macron discussed the positive outcomes of the recently concluded India-EU Leaders' Meeting. India and the European Union (EU) had on May 8 announced their decision to resume negotiations for a balanced and comprehensive trade agreement after a gap of eight years and unveiled an ambitious connectivity partnership.
Most of the sectoral indices ended in green except FMGC, Pharma and Realty. The top gainers from the F&O segment were PNB, Piramal Enterprises and Mindtree. On the other hand, the top losers were Manappuram Finance, Berger Paints and Cummins India. In the index option segment, maximum OI continues to be seen in the 15600 -16500 calls and 13500 -15,300 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 4.61% and reached 19.91. The 50 share Nifty up by 36.40 points or 0.24% to settle at 15,337.85.
Nifty June 2021 futures closed at 15406.55 (LTP) on Thursday, at a premium of 68.70 points over spot closing of 15337.85, while Nifty July 2021 futures ended at 15456.95 (LTP), at a premium of 119.10 points over spot closing. Nifty June futures saw an addition of 45,732 units, taking the total open interest (Contracts) to 1,43,146 units. The near month derivatives contract will expire on June 24, 2021 (Provisional).
From the most active contracts, Reliance Industries June 2021 futures traded at a premium of 5.10 points at 1995.10 (LTP) compared with spot closing of 1990.00. The numbers of contracts traded were 66,695 (Provisional).
SBIN June 2021 futures traded at a discount of 1.50 points at 425.00 (LTP) compared with spot closing of 426.50. The numbers of contracts traded were 50,473 (Provisional).
HDFC June 2021 futures traded at a discount of 3.50 points at 2495.60 (LTP) compared with spot closing of 2499.10. The numbers of contracts traded were 34,093 (Provisional).
Tata Steel June 2021 futures traded at a discount of 16.55 points at 1087.00 (LTP) compared with spot closing of 1103.55. The numbers of contracts traded were 33,544 (Provisional).
ICICI Bank June 2021 futures traded at a premium of 4.25 points at 657.90 (LTP) compared with spot closing of 653.65. The numbers of contracts traded were 31,331 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with an addition of 1,733 units open interests. Among Nifty puts, 15000 SP from the June month expiry was the most active put with an addition of 5,597 units open interests. The maximum OI outstanding for Calls was at 16000 SP (25,738 units) and that for Puts was at 14000 SP (37,650 units). The respective Support and Resistance levels of Nifty are: Resistance 15,390.77 -- Pivot Point 15,331.63 -- Support -- 15,278.72.
The Nifty Put Call Ratio (PCR) finally stood at (1.56) for June month contract. The top five scrips with highest PCR on P I Industries (1.81), Aarti Industries (1.40), Indus Towers (1.27), Gujarat Gas (1.21) and Dr. Lal PathLabs (1.15).
Among most active underlying, Reliance Industries witnessed an addition of 35,997 units of Open Interest in the June month futures contract, SBIN witnessed an addition of 12,345 units of Open Interest in the June month futures contract, Tata Steel witnessed an addition of 9,136 units of Open Interest in the June month futures contract, Adani Enterprises witnessed an addition of 8,086 units of Open Interest in the June month futures contract and ICICI Bank witnessed an addition of 15,032 units of Open Interest in the June month futures contract (Provisional).
