The local benchmark -- Nifty extended its fall for second straight session. Market made negative start, as traders remain concerned with a RBI article stating that bank deposits and currency holding with the public have been adversely impacted during the second COVID wave, indicating a heavy outgo towards pandemic-induced medical expenditure. Market continued its weak trade after the commerce ministry said that sellers who do not declare local content percentage while uploading their products at public procurement portal GeM will lose out on business and will not be able to participate in bids in which buyer has chosen to procure only made-in-India items. Traders failed to took support, as Confederation of Indian Industry (CII) said on Thursday the country's gross domestic product (GDP) is expected to grow at 9.5 per cent in the current financial year (FY 2021-22). This will take the GDP to a level that is slightly higher than in FY20. The strong growth in the second-half will be supported by robust external demand and large scale coverage of vaccination allowing resumption of economic activity. In late afternoon, market added more losses as foreign institutional investors (FIIs) stood as net sellers in the capital market as they offloaded shares worth Rs 870.29 crore on June 16, as per provisional exchange data.
Most of the sectoral indices ended in red except FMGC and IT. The top gainers from the F&O segment were Gujarat Gas, UBL and ICICI Prudential Life Insurance. On the other hand, the top losers were Indiabulls Housing Finance, Adani Enterprises and Adani Ports. In the index option segment, maximum OI continues to be seen in the 15900 -17000 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 increased by 2.84% and reached 15.29. The 50 share Nifty down by 76.15 points or 0.48% to settle at 15,691.40.
Nifty June 2021 futures closed at 15680.95 (LTP) on Thursday, at a discount of 10.45 points over spot closing of 15691.40, while Nifty July 2021 futures ended at 15730.05 (LTP), at a premium of 38.65 points over spot closing. Nifty June futures saw an addition of 375 units, taking the total open interest (OI) to 1,43,531 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 4.65 points at 2218.80 (LTP) compared with spot closing of 2214.15. The numbers of contracts traded were 49,942 (Provisional).
Adani Enterprises June 2021 futures traded at a premium of 3.20 points at 1359.20 (LTP) compared with spot closing of 1356.00. The numbers of contracts traded were 31,470 (Provisional).
Tata Steel June 2021 futures traded at a discount of 0.45 points at 1105.05 (LTP) compared with spot closing of 1105.50. The numbers of contracts traded were 30,767 (Provisional).
SBIN June 2021 futures traded at a premium of 0.35 points at 420.05 (LTP) compared with spot closing of 419.70. The numbers of contracts traded were 20,107 (Provisional).
Grasim Industries June 2021 futures traded at a premium of 4.25 points at 1459.15 (LTP) compared with spot closing of 1454.90. The numbers of contracts traded were 15,318 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with an addition of 11,744 units open interests. Among Nifty puts, 15700 SP from the June month expiry was the most active put with an addition of 4,200 units open interests. The maximum OI outstanding for Calls was at 16500 SP (48,731 units) and that for Puts was at 15500 SP (50,450 units). The respective Support and Resistance levels of Nifty are: Resistance 15,768.25 -- Pivot Point 15,692.50 -- Support -- 15,615.65.
The Nifty Put Call Ratio (PCR) finally stood at (1.05) for June month contract. The top five scrips with highest PCR on Asian Paints (0.92), Titan Company (0.91), Hindustan Petroleum Corporation (0.79), Wipro (0.79) and PVR (0.73).
Among most active underlying, Adani Enterprises witnessed a contraction of 57 units of Open Interest in the June month futures contract, Tata Steel witnessed an addition of 895 units of Open Interest in the June month futures contract, Reliance Industries witnessed an addition of 2,578 units of Open Interest in the June month futures contract, Infosys witnessed an addition of 2,370 units of Open Interest in the June month futures contract and Bharti Airtel witnessed an addition of 364 units of Open Interest in the June month futures contract (Provisional).
