NSE gauge -- Nifty 50 extended its trade in red zone on Tuesday and ended the session with cut of above half a percent. Market made negative start, as ratings agency Crisil said the lull in monsoon over the past 15 days up to July 12 has impacted pace of sowing of kharif crops in 2021-22 crop year (July-June). Further, Market extended its losses with a private report that investments by private equity and venture capital funds declined by 22 per cent to $5.4 billion in June, as compared to the $6.9 billion in the year-ago period. Index continued its weak run till the end of the session, as Asian Development Bank has downgraded India's economic growth forecast for the current financial year to 10 percent from 11 percent projected in April, on account of the adverse impact of the coronavirus pandemic. India's GDP growth recovered to 1.6 percent in the last quarter of the fiscal year ended March 2021, narrowing contraction in the whole fiscal year from 8 percent estimated in April to a revised 7.3 percent, the multilateral funding agency said in the Asian Development Outlook (ADO) Supplement. Finally, Nifty ended the session below 15650 mark.
Most of the sectoral indices ended in red except FMGC. The top gainers from the F&O segment were ACC, Asian Paints and Ambuja Cements. On the other hand, the top losers were Indian Hotels Company, Aditya Birla Fashion and Indigo. In the index option segment, maximum OI continues to be seen in the 15900 -16100 calls and 14900 -15,100 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility increased by 4.14% and reached 13.21. The 50 share Nifty down by 120.30 points or 0.76% to settle at 15,632.10.
Nifty July 2021 futures closed at 15630.00 (LTP) on Tuesday, at a discount of 2.10 points over spot closing of 15632.10, while Nifty August 2021 futures ended at 15682.30 (LTP), at a premium of 50.20 points over spot closing. Nifty July futures saw an addition of 17,956 units, taking the total open interest (contracts) to 1,99,599 units. The near month derivatives contract will expire on July 29, 2021 (Provisional).
From the most active contracts, Asian Paints July 2021 futures traded at a premium of 11.95 points at 3157.00 (LTP) compared with spot closing of 3145.05. The numbers of contracts traded were 40,385 (Provisional).
Bajaj Finance July 2021 futures traded at a premium of 8.20 points at 5973.35 (LTP) compared with spot closing of 5965.15. The numbers of contracts traded were 26,277 (Provisional).
ACC July 2021 futures traded at a premium of 8.80 points at 2309.80 (LTP) compared with spot closing of 2301.00. The numbers of contracts traded were 24,032 (Provisional).
Reliance Industries July 2021 futures traded at a premium of 6.40 points at 2096.35 (LTP) compared with spot closing of 2089.95. The numbers of contracts traded were 23,553 (Provisional).
HCL Tech July 2021 futures traded at a discount of 3.50 points at 973.50 (LTP) compared with spot closing of 977.00. The numbers of contracts traded were 19,598 (Provisional).
Among, Nifty calls, 15800 SP from the July month expiry was the most active call with an addition of 12,599 units open interests. Among Nifty puts, 15600 SP from the July month expiry was the most active put with an addition of 7,308 units open interests. The maximum OI outstanding for Calls was at 16000 SP (60,130 units) and that for Puts was at 15000 SP (71,522 units). The respective Support and Resistance levels of Nifty are: Resistance 15,714.18 -- Pivot Point 15,646.37 -- Support -- 15,564.28.
The Nifty Put Call Ratio (PCR) finally stood at (1.01) for July month contract. The top five scrips with highest PCR on Apollo Hospitals Enterprise (0.92), Divi's Laboratories (0.88), Mindtree (0.85), ACC (0.83) and Ambuja Cements (0.82).
Among most active underlying, Asian Paints witnessed an addition of 2,406 units of Open Interest in the July month futures contract, ACC witnessed an addition of 1,652 units of Open Interest in the July month futures contract, Bajaj Finance witnessed a contraction of 1,145 units of Open Interest in the July month futures contract, Tata Steel witnessed an addition of 571 units of Open Interest in the July month futures contract and HDFC Bank witnessed an addition of 2,157 units of Open Interest in the July month futures contract (Provisional).
