S&P CNX -- Nifty -- ended the Thursday’s session at record closing high with gains of above half a percent. Market made positive start, as fresh infections continued to fall as it has been seven days since cases have not breached 200,000 mark. Market continued the gaining monument with Credit ratings agency Crisil in its latest report stating that the expanded Emergency Credit Line Guarantee Scheme (ECLGS) will help businesses like hotels, civil aviation and tour operators, which are the hardest hit by the second wave of COVID-19. It will also support build-up of healthcare infrastructure, mainly oxygen availability, in tier-2 and beyond cities and the hinterland. Traders overlooked report that that India's services sector activities slumped into contraction territory for the first time in eight months, amid renewed decline in new work intakes due to the escalation of the pandemic and the reintroduction of restrictions. The seasonally adjusted India Services Business Activity Index fell to 46.4 in May, down from 54.0 in April, as the intensification of the COVID-19 crisis caused renewed declines in new business and output. In last leg of trade, market touched its intraday high point, as Minister of State for Finance Anurag Thakur said the Indian economy is resilient, and will rebound based on reforms that have ensured strong fundamentals.
Most of the sectoral indices ended in green except Pharma. The top gainers from the F&O segment were Voltas, Titan Company and Vodafone Idea. On the other hand, the top losers were Navin Fluorine International, Indusind Bank and Motherson Sumi Systems. 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 8.51% and reached 15.75. The 50 share Nifty up by 114.15 points or 0.73% to settle at 15,690.35.
Nifty June 2021 futures closed at 15715.00 (LTP) on Thursday, at a premium of 24.65 points over spot closing of 15690.35, while Nifty July 2021 futures ended at 15758.90 (LTP), at a premium of 68.55 points over spot closing. Nifty June futures saw an addition of 8,907 units, taking the total open interest (OI) to 1,43,097 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 3.00 points at 2211.00 (LTP) compared with spot closing of 2208.00. The numbers of contracts traded were 58,545 (Provisional).
Adani Ports June 2021 futures traded at a premium of 4.25 points at 829.15 (LTP) compared with spot closing of 824.90. The numbers of contracts traded were 30,174 (Provisional).
Indusind Bank June 2021 futures traded at a premium of 5.80 points at 1011.65 (LTP) compared with spot closing of 1005.85. The numbers of contracts traded were 28,213 (Provisional).
SBIN June 2021 futures traded at a premium of 1.35 points at 440.40 (LTP) compared with spot closing of 439.05. The numbers of contracts traded were 27,975 (Provisional).
Adani Enterprises June 2021 futures traded at a premium of 4.45 points at 1596.85 (LTP) compared with spot closing of 1592.40. The numbers of contracts traded were 26,384 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with a contraction of 265 units open interests. Among Nifty puts, 15500 SP from the June month expiry was the most active put with an addition of 2,660 units open interests. The maximum OI outstanding for Calls was at 16000 SP (32,096 units) and that for Puts was at 15000 SP (39,702 units). The respective Support and Resistance levels of Nifty are: Resistance 15,726.63 -- Pivot Point 15,668.82 -- Support -- 15,632.53.
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 (1.50), PVR (1.02), Muthoot Finance (0.94), Titan Company (0.93) and Hindustan Petroleum Corporation (0.78).
Among most active underlying, Adani Enterprises witnessed a contraction of 156 units of Open Interest in the June month futures contract, Reliance Industries witnessed an addition of 6,959 units of Open Interest in the June month futures contract, Adani Ports witnessed an addition of 833 units of Open Interest in the June month futures contract, Indusind Bank witnessed an addition of 2,583 units of Open Interest in the June month futures contract and Muthoot Finance witnessed an addition of 544 units of Open Interest in the June month futures contract (Provisional).
