Nifty ended flat on Thursday. After making cautious start and market soon gained traction, as traders took support with report that the Ministry of Electronics and Information and Technology (MeitY) launched Start-up Accelerators of MeitY for pRoduct Innovation, Development and growth (SAMRIDH). Market maintained its gaining momentum with private report stating that the Indian economic growth likely to touch record high in the quarter through June, reflecting a very weak base last year and a rebound in consumer spending. Traders took note of report that Heavy Industries Minister Mahendra Nath Pandey has urged the domestic industry to work in the direction of increasing the manufacturing sector's share in the country's GDP. He said steps like the production-linked incentive (PLI) schemes would help in boosting domestic manufacturing. However, in afternoon trade, index turned volatile, as rating agency Moodys stated that the India's second Coronavirus (Covid-19) wave is increasing asset risks for banks in retail and the SME loan segment. On the global front, Asian markets were trading mixed as the Delta coronavirus variant's spread darkened the regional mood.
Traders were seen piling up positions in Bank, Realty and Oil & Gas sectors while selling was witnessed in IT, Metal and Media sectors’ stocks. The top gainers from the F&O segment were M&MFIN, Cholamandalam Investment and Britannia Industries. On the other hand, the top losers were Bharti Airtel, NMDC and Vodafone Idea. In the index option segment, maximum OI continues to be seen in the 16900 -17200 calls and 16400 -16600 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 0.29% and reached 13.54. The 50 share Nifty up by 2.25 points or 0.01% to settle at 16,636.90.
Nifty September 2021 futures closed at 16639.75 (LTP) on Thursday, at a premium of 2.85 points over spot closing of 16636.90, while Nifty October 2021 futures ended at 16665.00 (LTP), at a premium of 28.10 points over spot closing. Nifty September futures saw an addition of 1,33,663 units, taking the total open interest (Contracts) to 2,50,604 units. The near month derivatives contract will expire on September 30, 2021 (Provisional).
From the most active contracts, Reliance Industries September 2021 futures traded at a premium of 5.00 points at 2237.00 (LTP) compared with spot closing of 2232.00. The numbers of contracts traded were 56,152 (Provisional).
SBIN September 2021 futures traded at a premium of 1.05 points at 411.40 (LTP) compared with spot closing of 410.35. The numbers of contracts traded were 28,025 (Provisional).
Bharti Airtel September 2021 futures traded at a premium of 2.80 points at 588.20 (LTP) compared with spot closing of 585.40. The numbers of contracts traded were 28,020 (Provisional).
Kotak Mahindra Bank September 2021 futures traded at a premium of 9.95 points at 1711.00 (LTP) compared with spot closing of 1701.05. The numbers of contracts traded were 24,278 (Provisional).
Tata Steel September 2021 futures traded at a premium of 2.15 points at 1378.95 (LTP) compared with spot closing of 1376.80. The numbers of contracts traded were 22,827 (Provisional).
Among, Nifty calls, 17000 SP from the September month expiry was the most active call with an addition of 6,141 units open interests. Among Nifty puts, 16600 SP from the September month expiry was the most active put with an addition of 6,265 units open interests. The maximum OI outstanding for Calls was at 17000 SP (33,839 units) and that for Puts was at 16500 SP (42,100 units). The respective Support and Resistance levels of Nifty are: Resistance 16,679.27 -- Pivot Point 16,641.33 -- Support -- 16,598.97.
The Nifty Put Call Ratio (PCR) finally stood at (1.44) for September month contract. The top five scrips with highest PCR on City Union Bank (1.42), IndusInd Bank (1.04), Astral (0.99), Indus Tower (0.98) and REC (0.96).
Among most active underlying, Reliance Industries witnessed an addition of 51,228 units of Open Interest in the September month futures contract, Bharti Airtel witnessed an addition of 17,669 units of Open Interest in the September month futures contract, Tata Steel witnessed an addition of 16,653 units of Open Interest in the September month futures contract, ICICI Bank witnessed an addition of 22,738 units of Open Interest in the September month futures contract and Infosys witnessed an addition of 19,136 units of Open Interest in the September month futures contract (Provisional).
