The local benchmark -- Nifty -- ended the volatile day of trade in red territory. Market made negative start amid fears of third wave and the spread of Delta and Delta plus variant. Further, market entered into green zone for little time, as Commerce and Industry Minister Piyush Goyal expressed confidence that India will continue to attract high foreign direct investment (FDIs) in the current financial year. Market turned volatile with reports that foreign portfolio investors (FPIs) offloaded Indian equities to the tune of over Rs 5,689 crore in July so far as they continued to adopt a cautious stance in view of various domestic and global factors. During July 1-23, FPIs took out Rs 5,689.23 crore from equities, as per depositories data. In lag of trade, market added more losses even after country's exports grew 45.13 per cent to $22.48 billion during July 1-21 on account of healthy growth in sectors such as gems and jewellery, petroleum and engineering. Imports also rose 64.82 per cent to $31.77 billion in the said period, leaving a trade deficit of $9.29 billion.
All the sectoral indices ended in red except IT, Media and Metal. The top gainers from the F&O segment were Coromandel, Apollo Hospitals and MFSL. On the other hand, the top losers were Alembic Pharmaceuticals, M&MFIN and Navin Fluorine International. 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 5.84% and reached 12.45. The 50 share Nifty up by 31.60 points or 0.20% to settle at 15,824.45.Nifty July 2021 futures closed at 15818.00 (LTP) on Monday, at a discount of 6.45 points over spot closing of 15824.45, while Nifty August 2021 futures ended at 15860.00 (LTP), at a premium of 35.55 points over spot closing. Nifty July futures saw an addition of 6,285 units, taking the total open interest (Contracts) to 1,72,589 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 2.20 points at 2076.10 (LTP) compared with spot closing of 2073.90. The numbers of contracts traded were 61,189 (Provisional).
ICICI Bank July 2021 futures traded at a discount of 2.45 points at 674.05 (LTP) compared with spot closing of 676.50. The numbers of contracts traded were 43,624 (Provisional).
Tata Steel July 2021 futures traded at a premium of 2.20 points at 1299.20 (LTP) compared with spot closing of 1297.00. The numbers of contracts traded were 34,412 (Provisional).
Kotak Mahindra Bank July 2021 futures traded at a discount of 1.65 points at 1738.00 (LTP) compared with spot closing of 1739.65. The numbers of contracts traded were 28,461 (Provisional).
ITC July 2021 futures traded at a discount of 0.05 points at 211.00 (LTP) compared with spot closing of 211.05. The numbers of contracts traded were 27,886 (Provisional).
Among, Nifty calls, 15900 SP from the July month expiry was the most active call with an addition of 32,843 units open interests. Among Nifty puts, 15800 SP from the July month expiry was the most active put with an addition of 28,664 units open interests. The maximum OI outstanding for Calls was at 16000 SP (1,40,047 units) and that for Puts was at 15000 SP (1,02,001 units). The respective Support and Resistance levels of Nifty are: Resistance 15,879.53 -- Pivot Point 15,838.27 -- Support -- 15,783.18.
The Nifty Put Call Ratio (PCR) finally stood at (0.97) for July month contract. The top five scrips with highest PCR on Bajaj Finserv (1.16), Jubilant FoodWorks (1.07), ACC (1.02), Divi's Laboratories (0.97) and Tata Steel (0.93).
Among most active underlying, ICICI Bank witnessed an addition of 5,838 units of Open Interest in the July month futures contract, Tata Steel witnessed an addition of 2,223 units of Open Interest in the July month futures contract, Reliance Industries witnessed an addition of 17,220 units of Open Interest in the July month futures contract, Kotak Mahindra Bank witnessed an addition of 854 units of Open Interest in the July month futures contract and Bharti Airtel witnessed an addition of 248 units of Open Interest in the July month futures contract (Provisional).
