NSE gauge -- Nifty50 -- ended volatility trading session in green zone. Market made cautious start and turned volatile after goods and services tax collections fell below the Rs 1-trillion mark for the first time in nine month in June to a 10-month low, as economic activity got disrupted due to the second Covid-19 wave. However, market gained some momentum, as government brought Department of Public Enterprises (DPE) under the Finance Ministry in order to better control public sector enterprises as it looks to privatize them. Earlier, the DPE came under the Ministry of Heavy Industries and Public Enterprises. It monitors the performance of PSUs, dividend, capex performance, possibility of buyback of shares, and pay packages of the staff, among others. Market maintained its gains till the end of the session with External Affairs Minister S Jaishankar’s statement that India is coming out of the second wave of the coronavirus pandemic and it will witness a strong economic recovery and contribute to being an engine of growth for the global economy. Finally, Nifty ended the session near intraday high point.
Most of the sectoral indices ended in green except Auto and Media. The top gainers from the F&O segment were National Aluminium Company, BHEL and Bharat Forge. On the other hand, the top losers were Info Edge, Aurobindo Pharma and Titan Company. 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 0.50% and reached 12.21. The 50 share Nifty up by 61.40 points or 0.39% to settle at 15,879.65.
Nifty July 2021 futures closed at 15897.65 (LTP) on Wednesday, at a premium of 18.00 points over spot closing of 15879.65, while Nifty August 2021 futures ended at 15934.75 (LTP), at a premium of 55.10 points over spot closing. Nifty July futures saw an addition of 2,156 units, taking the total open interest (OI) to 1,92,962 units. The near month derivatives contract will expire on July 29, 2021 (Provisional).
From the most active contracts, Tata Motors July 2021 futures traded at a discount of 0.55 points at 316.70 (LTP) compared with spot closing of 317.25. The numbers of contracts traded were 38,519 (Provisional).
Tata Steel July 2021 futures traded at a premium of 5.35 points at 1230.35 (LTP) compared with spot closing of 1225.00. The numbers of contracts traded were 35,666 (Provisional).
Reliance Industries July 2021 futures traded at a premium of 5.50 points at 2117.50 (LTP) compared with spot closing of 2112.00. The numbers of contracts traded were 24,411 (Provisional).
TCS July 2021 futures traded at a discount of 1.85 points at 3274.00 (LTP) compared with spot closing of 3275.85. The numbers of contracts traded were 17,148 (Provisional).
Infosys July 2021 futures traded at a premium of 4.30 points at 1566.80 (LTP) compared with spot closing of 1562.50. The numbers of contracts traded were 14,962 (Provisional).
Among, Nifty calls, 16000 SP from the July month expiry was the most active call with an addition of 3,057 units open interests. Among Nifty puts, 15800 SP from the July month expiry was the most active put with an addition of 3,429 units open interests. The maximum OI outstanding for Calls was at 16000 SP (55,934 units) and that for Puts was at 15500 SP (68,312 units). The respective Support and Resistance levels of Nifty are: Resistance 15,922.23 -- Pivot Point 15,850.97 -- Support -- 15,808.38.
The Nifty Put Call Ratio (PCR) finally stood at (1.37) for July month contract. The top five scrips with highest PCR on Hindustan Petroleum Corporation (1.05), Indus Towers (0.95), BEL (0.90), Apollo Hospitals Enterprise (0.82) and Coromandel International (0.75).
Among most active underlying, Tata Steel witnessed an addition of 3,390 units of Open Interest in the July month futures contract, Tata Motors witnessed an addition of 5,478 units of Open Interest in the July month futures contract, TCS witnessed an addition of 648 units of Open Interest in the July month futures contract, Infosys witnessed an addition of 803 units of Open Interest in the July month futures contract and Reliance Industries witnessed an addition of 4,021units of Open Interest in the July month futures contract (Provisional).
