Nifty -- finished the Monday’s session above 15800 mark. Market made positive start, as India recorded the highest-ever exports of $95 billion during April-June, up 85 per cent Y-o-Y and 18 per cent higher than the first quarter of the fiscal year 2019-20. The merchandise exports grew 47 per cent Y-o-Y to $32.46 billion in June, driven by a robust demand of engineering goods, petroleum products, and gems and jewellery in the external markets. Further, market extended its gains despite India’s service sector remained into contraction territory in the month of June, as the emergence of the pandemic and the reintroduction of containment measures restricted demand. New work intakes and output contracted at the fastest rates since July 2020, which prompted companies to reduce employment again.
Market maintained its healthy gains till the end of the session with Commerce and Industry Minister Piyush Goyal’s statement that India has set a target of $400 billion merchandise exports for 2021-22 (FY22). He mentioned ‘In collaboration with private industry, MSME sector, engineering, agriculture, automobile, steel sector, we have set an export target of $400 billion. We all will work together to achieve this target.’ Further, he said India's economy is growing and exports are also growing. Finally nifty ended the session with the gains of above half a percent.
Most of the sectoral indices ended in green except IT and Pharma. The top gainers from the F&O segment were IRCTC, Muthoot Finance and Indiabulls Housing Finance. On the other hand, the top losers were Tech Mahindra, Adani Enterprises and NMDC. 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 0.18% and reached 12.07. The 50 share Nifty up by 112.15 points or 0.71% to settle at 15,834.35.
Nifty July 2021 futures closed at 15868.00 (LTP) on Monday, at a premium of 33.65 points over spot closing of 15834.35, while Nifty August 2021 futures ended at 15907.00 (LTP), at a premium of 72.65 points over spot closing. Nifty July futures saw an addition of 0.01 million (mn) units, taking the total open interest (OI) to 1,54,324 mn 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 5.95 points at 2155.95 (LTP) compared with spot closing of 2150.00. The numbers of contracts traded were 30,284 (Provisional).
SBIN July 2021 futures traded at a premium of 2.50 points at 436.20 (LTP) compared with spot closing of 433.70. The numbers of contracts traded were 20,879 (Provisional).
Adani Enterprises July 2021 futures traded at a premium of 7.25 points at 1403.25 (LTP) compared with spot closing of 1396.00. The numbers of contracts traded were 20,117(Provisional).
Tata Steel July 2021 futures traded at a premium of 6.50 points at 1165.00 (LTP) compared with spot closing of 1158.50. The numbers of contracts traded were 14,282 (Provisional).
Infosys July 2021 futures traded at a premium of 2.95 points at 1586.60 (LTP) compared with spot closing of 1583.65. The numbers of contracts traded were 13,621 (Provisional).
Among, Nifty calls, 16000 SP from the July month expiry was the most active call with a contraction of 45 units open interests. Among Nifty puts, 15800 SP from the July month expiry was the most active put with an addition of 4,025 units open interests. The maximum OI outstanding for Calls was at 16000 SP (53,094 units) and that for Puts was at 15500 SP (66,076 units). The respective Support and Resistance levels of Nifty are: Resistance 15,866.18 -- Pivot Point 15,814.12 -- Support --15,782.28.
The Nifty Put Call Ratio (PCR) finally stood at (1.32) for July month contract. The top five scrips with highest PCR on Indus Towers (0.98), BEL (0.89), Apollo Hospitals Enterprise (0.81), BPCL (0.78) and Coromandel International (0.76).
Among most active underlying, Adani Enterprises witnessed an addition of 688 units of Open Interest in the July month futures contract, Reliance Industries witnessed a contraction of 474 units of Open Interest in the July month futures contract, Tata Steel witnessed a contraction of 172 units of Open Interest in the July month futures contract, SBIN witnessed an addition of 2,639 units of Open Interest in the July month futures contract and Infosys witnessed an addition of 2,457 units of Open Interest in the July month futures contract (Provisional).
