The local benchmark -- Nifty -- ended the session on flat note on Monday. Market made gap up opening, as Confederation of Indian Industries (CII) Chief Executive Officers (CEOs) poll of 119 top corporates showed that recovery from the second wave of the pandemic in April-May is expected to be swifter as compared to the first wave in 2020. Further, market extended its gains, as government has identified a host of customs exemptions for review and has invited suggestions from trade and industry bodies on the same. Importers, exporters, domestic industry, and trade associations are invited to give views on the subject for consideration by the government by August 10 on the 'MyGov.in' portal.
However, in late afternoon session, market turned volatile to end the session on flat note even after Niti Aayog Vice Chairman Rajiv Kumar said the economy will register a double-digit growth in the current fiscal and the disinvestment climate also looks better, with India's story remaining very strong. He also asserted that the country is prepared in a far better manner in case there is a Covid wave as states have also their own lessons from the previous two waves.
Most of the sectoral indices ended in green except FMGC, Media and IT. The top gainers from the F&O segment were Page Industries, Federal Bank and Manappuram Finance. On the other hand, the top losers were Mindtree, Hindustan Petroleum Corporation and Metropolis Lab. 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 increased by 0.38% and reached 12.99. The 50 share Nifty up by 2.80 points or 0.01% to settle at 15,692.60.
Nifty July 2021 futures closed at 15709.85 (LTP) on Monday, at a premium of 17.25 points over spot closing of 15692.60, while Nifty August 2021 futures ended at 15744.20 (LTP), at a premium of 51.60 points over spot closing. Nifty July futures saw a contraction of 3,557 units, taking the total open interest (Contracts) to 1,89,411 units. The near month derivatives contract will expire on July 29, 2021 (Provisional).
From the most active contracts, Tata Steel July 2021 futures traded at a premium of 3.50 points at 1228.50 (LTP) compared with spot closing of 1225.00. The numbers of contracts traded were 29,740 (Provisional).
Reliance Industries July 2021 futures traded at a premium of 3.55 points at 2085.50 (LTP) compared with spot closing of 2081.95. The numbers of contracts traded were 26,492 (Provisional).
HDFC Bank July 2021 futures traded at a premium of 6.75 points at 1494.05 (LTP) compared with spot closing of 1487.30. The numbers of contracts traded were 17,898 (Provisional).
Infosys July 2021 futures traded at a premium of 5.75 points at 1552.75 (LTP) compared with spot closing of 1547.00. The numbers of contracts traded were 16,116 (Provisional).
Tata Motors July 2021 futures traded at a discount of 2.50 points at 305.00 (LTP) compared with spot closing of 307.50. The numbers of contracts traded were 15,022 (Provisional).
Among, Nifty calls, 15800 SP from the July month expiry was the most active call with an addition of 2,279 units open interests. Among Nifty puts, 15700 SP from the July month expiry was the most active put with an addition of 3,212 units open interests. The maximum OI outstanding for Calls was at 16000 SP (56,437 units) and that for Puts was at 15500 SP (69,250 units). The respective Support and Resistance levels of Nifty are: Resistance 15,772.95 -- Pivot Point 15,708.85 -- Support -- 15,628.50.
The Nifty Put Call Ratio (PCR) finally stood at (1.31) for July month contract. The top five scrips with highest PCR on AU Small Finance Bank (0.99), Indus Towers (0.89), Apollo Hospitals Enterprise (0.89), BEL (0.83) and Bajaj Finserv (0.82).
Among most active underlying, Tata Steel witnessed a contraction of 936 units of Open Interest in the July month futures contract, Infosys witnessed an addition of 564 units of Open Interest in the July month futures contract, HDFC Bank witnessed an addition of 3,958 units of Open Interest in the July month futures contract, Reliance Industries witnessed an addition of 644 units of Open Interest in the July month futures contract and Tata Motors witnessed an addition of 1,577 units of Open Interest in the July month futures contract (Provisional).
