NSE gauge -- Nifty50 -- finished Thursday’s session above its crucial 16350 level. Market made positive start, as Commerce Secretary BVR Subrahmanyam states that the country's merchandise exports are expected to touch $1 trillion by 2027-28 and the government has laid down a road map, including district as an export hub scheme, to achieve that number. Market continued gaining momentum as traders took support with Prime Minister Narendra Modi’s statement that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, he said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest.
In afternoon session, index added more points as traders took additional support as Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey states that disinvestment of public sector companies is back on track after the COVID-induced setbacks, and DIPAM is aiming to conclude a host of transactions by March-end.
Most of the sectoral indices ended in red except Pharma and Healthcare Index. The top gainers from the F&O segment were Bharat Forge, Power Grid and Apollo Tyre. On the other hand, the top losers were Cadila Healthcare, Lupin and Eicher Motors. 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 2.67% and reached 12.37. The 50 share Nifty up by 82.15 points or 0.50% to settle at 16,364.40.
Nifty August 2021 futures closed at 16363.70 (LTP) on Thursday, at a discount of 0.70 points over spot closing of 16364.40, while Nifty September 2021 futures ended at 16404.00 (LTP), at a premium of 39.60 points over spot closing. Nifty August futures saw an addition of 18,065 units, taking the total open interest (Contracts) to 2,62,531 units. The near month derivatives contract will expire on August 26, 2021 (Provisional).
From the most active contracts, Bharat Forge August 2021 futures traded at a premium of 2.70 points at 837.20 (LTP) compared with spot closing of 834.50. The numbers of contracts traded were 20,720 (Provisional).
Tata Steel August 2021 futures traded at a discount of 0.70 points at 1433.00 (LTP) compared with spot closing of 1433.70. The numbers of contracts traded were 20,301 (Provisional).
Tata Motors August 2021 futures traded at a premium of 0.95 points at 307.80 (LTP) compared with spot closing of 306.85. The numbers of contracts traded were 19,509 (Provisional).
Reliance Industries August 2021 futures traded at a premium of 0.70 points at 2110.50 (LTP) compared with spot closing of 2109.80. The numbers of contracts traded were 18,799 (Provisional).
Tech Mahindra August 2021 futures traded at a discount of 3.05 points at 1382.95 (LTP) compared with spot closing of 1386.00. The numbers of contracts traded were 16,388 (Provisional).
Among, Nifty calls, 16500 SP from the August month expiry was the most active call with an addition of 1,523 units open interests. Among Nifty puts, 16300 SP from the August month expiry was the most active put with an addition of 14,847 units open interests. The maximum OI outstanding for Calls was at 16500 SP (46,313 units) and that for Puts was at 15000 SP (97,442 units). The respective Support and Resistance levels of Nifty are: Resistance 16,397.63 -- Pivot Point 16,342.27 -- Support -- 16,309.03.
The Nifty Put Call Ratio (PCR) finally stood at (1.83) for August month contract. The top five scrips with highest PCR on Tata Chemicals (1.22), Kotak Mahindra Bank (0.89), HDFC (0.79), BPCL 0.76) and Infosys (0.76).
Among most active underlying, Bharat Forge witnessed an addition of 952 units of Open Interest in the August month futures contract, Tata Steel witnessed an addition of 537 units of Open Interest in the August month futures contract, Tata Motors witnessed an addition of 1,906 units of Open Interest in the August month futures contract, IRCTC witnessed an addition of 834 units of Open Interest in the August month futures contract and Tech Mahindra witnessed an addition of 4,681 units of Open Interest in the August month futures contract (Provisional).
