NSE gauge -- Nifty50 -- snapped three day losing streak on Thursday and ended the session above 15750 mark. Market made positive opening, as Chief Economic Adviser (CEA) K V Subramanian said that India is expected to hit a growth rate of 6.5-7 percent in 2022-23 and accelerate further to 8 percent in the subsequent years on the back of reforms undertaken by the government. Further, market extended its gains, as Securities and Exchange Board of India’s (SEBI) Chairman, Ajay Tyagi asserted that a large part of the non-banking financial intermediation is happening through the capital markets. The capital markets are going to play a bigger role in funding the economic growth. Market remained higher, as the Reserve Bank of India (RBI) allowed payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems in the first phase of its plan bring non-banks in the same platform.
Markets extended its upside till the end, as Centre has launched the 'Secured Logistics Document Exchange' along with a Calculator for Green House Gas Emissions, in order to further improve ease of doing business. The Digital initiative is now set to improve logistics efficiency, reduce logistics cost, and promote multi-modality and sustainability in a big way.
All the sectoral indices ended in red except Auto, FMGC and Pharma. The top gainers from the F&O segment were Hindalco Industries, Coforge and National Aluminium Company. On the other hand, the top losers were LIC Housing Finance, Colgate-Palmolive and Power Grid Corporation of India. In the index option segment, maximum OI continues to be seen in the 15700 -15900 calls and 15700 -15900 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 5.45% and reached 12.95. The 50 share Nifty up by 69.05 points or 0.44% to settle at 15,778.45.
Nifty August 2021 futures closed at 15812.00 (LTP) on Thursday, at a premium of 33.55 points over spot closing of 15778.45, while Nifty September 2021 futures ended at 15849.00 (LTP), at a premium of 70.55 points over spot closing. Nifty August futures saw an addition of 62,182 units, taking the total open interest (Contracts) to 1,78,404 units. The near month derivatives contract will expire on August 26, 2021(Provisional).
From the most active contracts, Reliance Industries August 2021 futures traded at a premium of 6.70 points at 2061.00 (LTP) compared with spot closing of 2054.30. The numbers of contracts traded were 72,996 (Provisional).
Tata Steel August 2021 futures traded at a premium of 3.60 points at 1461.60 (LTP) compared with spot closing of 1458.00. The numbers of contracts traded were 57,318 (Provisional).
SBIN August 2021 futures traded at a premium of 1.95 points at 445.05 (LTP) compared with spot closing of 443.10. The numbers of contracts traded were 52,275 (Provisional).
Hindalco Industries August 2021 futures traded at a discount of 2.10 points at 456.55 (LTP) compared with spot closing of 458.65. The numbers of contracts traded were 28,713 (Provisional).
Vedanta August 2021 futures traded at a premium of 0.80 points at 287.65 (LTP) compared with spot closing of 286.85. The numbers of contracts traded were 25,820 (Provisional).
Among, Nifty calls, 15800 SP from the August month expiry was the most active call with an addition of 9,504 units open interests. Among Nifty puts, 15800 SP from the August month expiry was the most active put with an addition of 9,577 units open interests. The maximum OI outstanding for Calls was at 16000 SP (36,543 units) and that for Puts was at 15000 SP (53,227 units). The respective Support and Resistance levels of Nifty are: Resistance 15,817.93 -- Pivot Point 15,777.87 -- Support -- 15,738.38.
The Nifty Put Call Ratio (PCR) finally stood at (1.27) for August month contract. The top five scrips with highest PCR on Bandhan Bank (1.12), City Union Bank (1.11), Hero Motocorp (1.06), Eicher Motors (1.04) and MRF (1.02).
Among most active underlying, Tata Steel witnessed an addition of 8,528 units of Open Interest in the August month futures contract, Reliance Industries witnessed an addition of 34,182 units of Open Interest in the August month futures contract, SBIN witnessed an addition of 14,525 units of Open Interest in the August month futures contract, Hindalco Industries witnessed an addition of 5,364 units of Open Interest in the August month futures contract and SAIL witnessed an addition of 5,507 units of Open Interest in the August month futures contract (Provisional).
