S&P CNX -- Nifty -- ended flat on Wednesday. Market made negative start, as Centre for Monitoring Indian Economy (CMIE) chief executive Mahesh Vyas has said that over 10 million Indians have lost their jobs because of the second wave of COVID-19, and around 97 per cent of households' incomes have declined since the beginning of the pandemic last year. Further, market continued its weak trade as Moody’s Investors Service pegged India’s GDP growth at 9.3 percent in the current fiscal ending March 2022 and 7.9 percent in FY23. The reimposition of lockdown measures along with behavioural changes on fear of contagion will curb economic activity, it said, adding that it does not expect the impact to be as severe as during the first wave. In last leg of trade, market trimmed most of its losses to end the session on flat note, as India’s exports grew by 67.39 per cent to $32.21 billion in May driven by healthy growth in sectors such as engineering, pharmaceuticals, petroleum products and chemicals. Exports in May last year stood at $19.24 billion and in May 2019 it was at $29.85 billion.
Most of the sectoral indices ended in green except IT, FMGC and Financial Services. The top gainers from the F&O segment were Motherson Sumi Systems, Adani Enterprises and Muthoot Finance. On the other hand, the top losers were Mphasis, Aarti Industries and ITC. 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 1.02% and reached 17.21. The 50 share Nifty up by 1.35 points or 0.008% to settle at 15,576.20.
Nifty June 2021 futures closed at 15625.15 (LTP) on Wednesday, at a premium of 48.95 points over spot closing of 15576.20, while Nifty July 2021 futures ended at 15671.80 (LTP), at a premium of 95.60 points over spot closing. Nifty June futures saw an addition of 2,096 units, taking the total open interest (Contracts) to 1,44,723 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 2212.10 (LTP) compared with spot closing of 2207.00. The numbers of contracts traded were 56,364 (Provisional).
Motherson Sumi Systems June 2021 futures traded at a premium of 1.75 points at 274.60 (LTP) compared with spot closing of 272.85. The numbers of contracts traded were 40,137 (Provisional).
ITC June 2021 futures traded at a discount of 4.40 points at 204.65 (LTP) compared with spot closing of 209.05. The numbers of contracts traded were 33,898 (Provisional).
Adani Enterprises June 2021 futures traded at a premium of 2.70 points at 1554.00 (LTP) compared with spot closing of 1551.30. The numbers of contracts traded were 32,405(Provisional).
Adani Ports June 2021 futures traded at a premium of 3.10 points at 815.10 (LTP) compared with spot closing of 812.00. The numbers of contracts traded were 30,579 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with a contraction of 68 units open interests. Among Nifty puts, 15500 SP from the June month expiry was the most active put with a contraction of 388 units open interests. The maximum OI outstanding for Calls was at 16000 SP (32,570 units) and that for Puts was at 15000 SP (39,624 units). The respective Support and Resistance levels of Nifty are: Resistance 15,629.15 -- Pivot Point 15,544.50 -- Support --15,491.55.
The Nifty Put Call Ratio (PCR) finally stood at (1.64) for June month contract. The top five scrips with highest PCR on Adani Enterprises (1.59), PVR (0.93), Indus Towers (0.82), Hindustan Petroleum Corporation (0.81) and Motherson Sumi Systems (0.80).
Among most active underlying, Adani Enterprises witnessed an addition of 413 units of Open Interest in the June month futures contract, Motherson Sumi Systems witnessed an addition of 2,057 units of Open Interest in the June month futures contract, Adani Ports witnessed an addition of 1,044 units of Open Interest in the June month futures contract, Reliance Industries witnessed an addition of 7,650 units of Open Interest in the June month futures contract and ITC witnessed an addition of 8,017 units of Open Interest in the June month futures contract (Provisional).
