Nifty gave powerful performance by surging above a percent on Thursday, surpassing its psychological level of 15,800. Market made positive start with report that Finance Minister Nirmala Sitharaman has sought Parliament nod to spend a net additional Rs 23,675 crore, including Rs 17,000 crore for the health ministry, in the current financial year. As per the first batch of supplementary demands for grants tabled in the Lok Sabha by Sitharaman, although the gross additional expenditure is over Rs 1.87 trillion in 2021-22, the actual cash outgo will only be Rs 23,674.81 crore as the remaining spending will be met through savings and higher receipts and recoveries. Further, Index extended its gains to trade higher even after report stated that increasing commodity prices forced the government’s crude oil import bill to swell by a massive 190.6% on-year basis in the first quarter to reach $24.7 billion. India’s crude oil import value during the quarter stood at 51 million tonne, up 14.7% from the previous year. Market maintained its healthy gains till the end of the session.
All the sectoral indices ended in green. The top gainers from the F&O segment were Jubilant FoodWorks, Manappuram Finance and Trent. On the other hand, the top losers were Asian Paint, HUL and P I Industries. In the index option segment, maximum OI continues to be seen in the 15900 -16100 calls and 14900 -15,800 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 9.99% and reached 11.89. The 50 share Nifty up by 191.95 points or 1.23% to settle at 15,824.05.
Nifty July 2021 futures closed at 15823.45 (LTP) on Thursday, at a discount of 0.60 points over spot closing of 15824.05, while Nifty August 2021 futures ended at 15861.75 (LTP), at a premium of 37.70 points over spot closing. Nifty July futures saw a contraction of 12,438 units, taking the total open interest (Contracts) to 1,76,617 units. The near month derivatives contract will expire on July 29, 2021 (Provisional).
From the most active contracts, Bajaj Finance July 2021 futures traded at a premium of 24.40 points at 6213.40 (LTP) compared with spot closing of 6189.00. The numbers of contracts traded were 40,865(Provisional).
Bharti Airtel July 2021 futures traded at a premium of 0.40 points at 548.00 (LTP) compared with spot closing of 547.60. The numbers of contracts traded were 31,626 (Provisional).
Havells India July 2021 futures traded at a premium of 2.70 points at 1152.75 (LTP) compared with spot closing of 1150.05. The numbers of contracts traded were 30,782 (Provisional).
Reliance Industries July 2021 futures traded at a premium of 0.40 points at 2121.90 (LTP) compared with spot closing of 2121.50. The numbers of contracts traded were 26,553 (Provisional).
Hindustan Unilever July 2021 futures traded at a premium of 4.10 points at 2382.10 (LTP) compared with spot closing of 2378.00. The numbers of contracts traded were 24,499 (Provisional).
Among, Nifty calls, 16000 SP from the July month expiry was the most active call with an addition of 25,969 units open interests. Among Nifty puts, 15800 SP from the July month expiry was the most active put with an addition of 24,938 units open interests. The maximum OI outstanding for Calls was at 16000 SP (86,293units) and that for Puts was at 15500 SP (67,230 units). The respective Support and Resistance levels of Nifty are: Resistance 15,863.77 -- Pivot Point 15,795.08 -- Support -- 15,755.37.
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 (1.11), Jubilant FoodWorks (1.04), Bajaj Finserv (1.03), ACC (0.92) and Divi's Laboratories (0.91).
Among most active underlying, Bajaj Finance witnessed an addition of 1,955 units of Open Interest in the July month futures contract, Bharti Airtel witnessed an addition of 914 units of Open Interest in the July month futures contract, Tata Steel witnessed an addition of 1,065 units of Open Interest in the July month futures contract, HUL witnessed an addition of 2,637 units of Open Interest in the July month futures contract and Havells India witnessed an addition of 723 units of Open Interest in the July month futures contract (Provisional).
