Indian equity benchmark -- Nifty -- ended at a record closing high on Monday. After a positive start of the day, market remained higher for the whole day, after foreign direct investment (FDI) into the country rose by more than twofold to $17.57 billion during April-June this fiscal on account of measures such as policy reforms and ease of doing business. Some support also came as foreign portfolio investors (FPIs) pumped in a net of just Rs 986 crore in Indian equities during August.
Index extended its gains in the second half of the trading session, as Niti Aayog Vice-Chairman Rajiv Kumar has said a strong economic growth rebound is expected on the back of rapid vaccinations, a recovering monsoon boosting agricultural output, thrust on infrastructure investments by the government, and growth in export, which have performed remarkably during April June registering a growth of 18 per cent over the same period in the pre-pandemic year of 2019-20.
All the sectoral indices ended in green except IT. The top gainers from the F&O segment were IEX, INDIAMART and Can Fin Homes. On the other hand, the top losers were L&T Technology Services, Tech Mahindra and Nestle India. In the index option segment, maximum OI continues to be seen in the 16900 -17200 calls and 15900 -16100 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 0.65% and reached 13.31. The 50 share Nifty up by 225.85 points or 1.35% to settle at 16,931.05.
Nifty September 2021 futures closed at 16951.90 (LTP) on Monday, at a premium of 20.85 points over spot closing of 16931.05, while Nifty October 2021 futures ended at 16980.00 (LTP), at a premium of 48.95 points over spot closing. Nifty September futures saw an addition of 37,868 units, taking the total open interest (OI) to 2,85,814 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 6.20 points at 2279.95 (LTP) compared with spot closing of 2273.75. The numbers of contracts traded were 32,773 (Provisional).
Bharti Airtel September 2021 futures traded at a premium of 1.85 points at 626.85 compared with spot closing of 625.00. The numbers of contracts traded were 31,289 (Provisional).
Tata Steel September 2021 futures traded at a premium of 3.25 points at 1439.95 (LTP) compared with spot closing of 1436.70. The numbers of contracts traded were 22,068 (Provisional).
SBIN September 2021 futures traded at a premium of 0.55 points at 423.45 (LTP) compared with spot closing of 422.90. The numbers of contracts traded were 17,098 (Provisional).
ICICI Bank September 2021 futures traded at a premium of 1.90 points at 715.90 (LTP) compared with spot closing of 714.00. The numbers of contracts traded were 15,621 (Provisional).
Among, Nifty calls, 17400 SP from the September month expiry was the most active call with an addition of 12,719 units open interests. Among Nifty puts, 16800 SP from the September month expiry was the most active put with an addition of 15,764 units open interests. The maximum OI outstanding for Calls was at 17000 SP (37,814 units) and that for Puts was at 16000 SP (56,488 units). The respective Support and Resistance levels of Nifty are: Resistance 17,026.27 -- Pivot Point 16,885.63 -- Support -- 16,811.27.
The Nifty Put Call Ratio (PCR) finally stood at (1.48) for September month contract. The top five scrips with highest PCR on TCS (0.92), Indusind Bank (0.88), Hero Motocorp (0.86), REC (0.83) and PFC (0.83).
Among most active underlying, Bharti Airtel witnessed an addition of 1,851 units of Open Interest in the September month futures contract, Tata Steel witnessed a contraction of 499 units of Open Interest in the September month futures contract, Reliance Industries witnessed an addition of 4,617 units of Open Interest in the September month futures contract, ICICI Bank witnessed an addition of 2,958 units of Open Interest in the September month futures contract Axis Bank witnessed an addition of 1,601 units of Open Interest in the September month futures contract (Provisional).
