S&P CNX -- Nifty -- extended its weak trade for fourth straight session on Thursday. Market made positive start, as Principal Economic Adviser (PEA) Sanjeev Sanyal said the Indian economy is likely to witness close to double-digit growth in the current fiscal year despite the second Covid-19 wave ravaging the country. However, soon market entered into red zone, as India's external debt surged by $11.5 billion year-on-year to $570 billion as of March-end 2021, according to the Reserve Bank of India data. The external debt to GDP ratio rose to 21.1 per cent as of March-end 2021 from 20.6 per cent a year ago. Market continued its downward trade for remaining part of the day, as Indian manufacturing activity fell back into decline in the month of June, as the intensification of the pandemic and strict containment measures negatively impacted on demand. As per the survey report, the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) - a composite single-figure indicator of manufacturing performance - fell to 48.1 in June as against 50.8 in May. Finally, Nifty ended the session below 15700 mark.
Most of the sectoral indices ended in red except Auto, FMGC and Pharma. The top gainers from the F&O segment were Info Edge, Deepak Nitrite and Dabur. On the other hand, the top losers were SAIL, PFC and Vodafone Idea. In the index option segment, maximum OI continues to be seen in the 15900 -17000 calls and 14500 -15,700 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 1.57% and reached 12.84. The 50 share Nifty down by 41.50 points or 0.26% to settle at 15,680.00.
Nifty July 2021 futures closed at 15727.00 (LTP) on Thursday, at a premium of 47.00 points over spot closing of 15680.00, while Nifty August 2021 futures ended at 15774.00 (LTP), at a premium of 94.00 points over spot closing. Nifty July futures saw an addition of 2,660 units, taking the total open interest (OI) to 1,95,808 units. The near month derivatives contract will expire on July 29, 2021 (Provisional).
From the most active contracts, Reliance Industries July 2021 futures traded at a premium of 10.10 points at 2111.60 (LTP) compared with spot closing of 2101.50. The numbers of contracts traded were 25,624 (Provisional).
Info Edge July 2021 futures traded at a premium of 19.15 points at 5322.00 (LTP) compared with spot closing of 5302.85. The numbers of contracts traded were 17,057 (Provisional).
SBIN July 2021 futures traded at a premium of 1.80 points at 423.00 (LTP) compared with spot closing of 421.20. The numbers of contracts traded were 13,593 (Provisional).
Tata Motors July 2021 futures traded at a premium of 0.70 points at 345.20 (LTP) compared with spot closing of 344.50. The numbers of contracts traded were 12,704 (Provisional).
Dr. Reddy's July 2021 futures traded at a premium of 7.85 points at 5579.85 (LTP) compared with spot closing of 5572.00. The numbers of contracts traded were 12,367 (Provisional).
Among, Nifty calls, 16000 SP from the July month expiry was the most active call with an addition of 4,038 units open interests. Among Nifty puts, 15700 SP from the July month expiry was the most active put with an addition of 2,040 units open interests. The maximum OI outstanding for Calls was at 16000 SP (52,117 units) and that for Puts was at 15500 SP (62,544 units). The respective Support and Resistance levels of Nifty are: Resistance 15,734.68 -- Pivot Point 15,700.87 -- Support -- 15,646.18.
The Nifty Put Call Ratio (PCR) finally stood at (1.26) for July month contract. The top five scrips with highest PCR on Indus Towers (1.02), BEL (0.89), Adani Enterprises (0.86), BPCL (0.84) and Vedanta (0.79).
Among most active underlying, Reliance Industries witnessed an addition of 2,062 units of Open Interest in the July month futures contract, Tata Motors witnessed an addition of 307 units of Open Interest in the July month futures contract, Info Edge witnessed an addition of 1,194 units of Open Interest in the July month futures contract, Infosys witnessed an addition 953 units of Open Interest in the July month futures contract and Tata Steel witnessed an addition of 147 units of Open Interest in the July month futures contract (Provisional).
