The local benchmark -- Nifty -- ended the Thursday’s session in green zone. Market made cautious start and turned volatile with report that India’s monetary policy makers are likely to leave interest rates untouched for a seventh straight meeting, as their focus remains more on fixing a fickle economy than on controlling stubborn price pressures. After trading near neutral line, market added gains to trade higher with report that the Rajya Sabha passed the Limited Liability Partnership (Amendment) Bill, which seeks to encourage the start-up ecosystem and further boost ease of doing business, amid uproar by the opposition on Pegasus snooping row and other issues. Index maintained its gains till the end of the session. Traders also took support, as Industry chamber PHDCCI called for a 3-tier GST rate structure, with the highest slab at 18 per cent, to help boost consumption and reduce evasion. Adding optimism, foreign portfolio investors (FPIs) stood as buyers of domestic stocks to the tune of Rs 2,828.57 crore.
Most of the sectoral indices ended in red except FMGC, IT and Metal. The top gainers from the F&O segment were Cholamandalam Investment, SAIL and Bharti Airtel. On the other hand, the top losers were SBIN, BOSCH and IDFC First Bank. In the index option segment, maximum OI continues to be seen in the 16400 -16700 calls and 14800 -15500 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 2.57% and reached 12.87. The 50 share Nifty up by 35.80 points or 0.22% to settle at 16,294.60.
Nifty August 2021 futures closed at 16290.65 (LTP) on Thursday, at a discount of 3.95 points over spot closing of 16294.60, while Nifty September 2021 futures ended at 16333.30 (LTP), at a premium of 38.70 points over spot closing. Nifty August futures saw an addition of 13,457 units, taking the total open interest (OI) to 2,47,999 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 3.80 points at 2134.80 (LTP) compared with spot closing of 2131.00. The numbers of contracts traded were 57,896 (Provisional).
SBIN August 2021 futures traded at a premium of 1.05 points at 443.00 (LTP) compared with spot closing of 441.95. The numbers of contracts traded were 52,115 (Provisional).
Bharti Airtel August 2021 futures traded at a premium of 2.35 points at 598.95 (LTP) compared with spot closing of 596.60. The numbers of contracts traded were 50,242 (Provisional).
Tata Steel August 2021 futures traded at a premium of 6.40 points at 1455.40 (LTP) compared with spot closing of 1449.00. The numbers of contracts traded were 34,522 (Provisional).
ITC August 2021 futures traded at a premium of 0.90 points at 215.90 (LTP) compared with spot closing of 215.00. The numbers of contracts traded were 30,515 (Provisional).
Among, Nifty calls, 16500 SP from the August month expiry was the most active call with a contraction of 359 units open interests. Among Nifty puts, 16300 SP from the August month expiry was the most active put with an addition of 8,022 units open interests. The maximum OI outstanding for Calls was at 16500 SP (42,857 units) and that for Puts was at 15000 SP (1,00,024 units). The respective Support and Resistance levels of Nifty are: Resistance 16,359.27 -- Pivot Point 16,284.78 -- Support -- 16,220.12.
The Nifty Put Call Ratio (PCR) finally stood at (1.77) for August month contract. The top five scrips with highest PCR on HDFC (1.08), Hero Motocorp (0.91), Kotak Mahindra Bank (0.83), SRF (0.82) and BPCL (0.80).
Among most active underlying, Bharti Airtel witnessed an addition of 1,294 units of Open Interest in the August month futures contract, Tata Steel witnessed an addition of 5,251 units of Open Interest in the August month futures contract, SBIN witnessed an addition of 9,526 units of Open Interest in the August month futures contract, Reliance Industries witnessed an addition of 5,198 units of Open Interest in the August month futures contract and HDFC Bank witnessed an addition of 2,947 units of Open Interest in the August month futures contract (Provisional).
