S&P CNX -- Nifty -- ended at record closing highs on Tuesday. Market made positive start with SBI Research’s report that if there is no third wave of Covid-19 pandemic, the fiscal position of the Centre and the states will be much better than budgeted for FY22 and the states may garner Rs 60,000 crore more in tax collections at Rs 8.27 lakh crore this fiscal year than they have budgeted. Besides, India reported the lowest daily spike in infections since 31 March with 62,597 new cases in the last 24 hours. With this, the country's total coronavirus caseload has reached 29,570,035. Market continued its positive trade, as private report stating that calibrated reopening of the economy by states as the number of fresh COVID-19 cases subside increased mobility and aided in a fast-paced increase in an index of business resumption last week. The Nomura India Business Resumption Index rebounded to 76 for the week ended June 13, up from the preceding week's 67.9, a note from the brokerage said. Traders ignored Retailers Association of India (RAI) in its latest survey report has showed that retail sales in India slipped 79 per cent in May compared to pre-COVID sales in the same month of 2019, as businesses across states were closed due to the second wave of the pandemic. Finally, Nifty ended the session above 15860 mark.
Most of the sectoral indices ended in green except Metal, Pharma and PSU Bank. The top gainers from the F&O segment were GMR Infrastructure, Gujarat Gas and ZEEL. On the other hand, the top losers were Torrent Pharmaceuticals, Shriram Transport Finance Company and NMDC. In the index option segment, maximum OI continues to be seen in the 15900 -16500 calls and 14500 -15,800 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 0.74% and reached 14.61. The 50 share Nifty up by 57.40 points or 0.36% to settle at 15,869.25.
Nifty June 2021 futures closed at 15871.10 (LTP) on Tuesday, at a premium of 1.85 points over spot closing of 15869.25, while Nifty July 2021 futures ended at 15915.00 (LTP), at a premium of 45.75 points over spot closing. Nifty June futures saw an addition of 9,679 units, taking the total open interest (OI) to 1,64,409 units. The near month derivatives contract will expire on June 24, 2021 (Provisional).
From the most active contracts, Adani Ports June 2021 futures traded at a premium of 2.50 points at 759.00 (LTP) compared with spot closing of 756.50. The numbers of contracts traded were 63,075 (Provisional).
Reliance Industries June 2021 futures traded at a premium of 4.00 points at 2248.00 (LTP) compared with spot closing of 2244.00. The numbers of contracts traded were 54,540 (Provisional).
Adani Enterprises June 2021 futures traded at a premium of 7.20 points at 1533.00 (LTP) compared with spot closing of 1525.80. The numbers of contracts traded were 26,402 (Provisional).
ZEEL June 2021 futures traded at a premium of 0.75 points at 231.25 (LTP) compared with spot closing of 230.50. The numbers of contracts traded were 21,750 (Provisional).
Tata steel June 2021 futures traded at a discount of 23.90 points at 1149.10 (LTP) compared with spot closing of 1173.00. The numbers of contracts traded were 18,824 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with an addition of 1,734 units open interests. Among Nifty puts, 15500 SP from the June month expiry was the most active put with an addition of 1,623 units open interests. The maximum OI outstanding for Calls was at 16000 SP (34,691units) and that for Puts was at 15500 SP (42,799 units). The respective Support and Resistance levels of Nifty are: Resistance 15,899.77 -- Pivot Point 15,871.08 -- Support -- 15,840.57.
The Nifty Put Call Ratio (PCR) finally stood at (1.52) for June month contract. The top five scrips with highest PCR on Titan Company (0.98), PVR (0.89), Asian Paints (0.84), Indiabulls Housing Finance (0.82) and Bajaj Finance (0.79).
Among most active underlying, Adani Ports witnessed an addition of 13,645 units of Open Interest in the June month futures contract, Adani Enterprises witnessed an addition of 1,670 units of Open Interest in the June month futures contract, Reliance Industries witnessed an addition of 4,504 units of Open Interest in the June month futures contract, Tata Steel witnessed a contraction of 576 units of Open Interest in the June month futures contract and ZEEL witnessed an addition of 1,706 units of Open Interest in the June month futures contract (Provisional).
