Indian benchmark -- Nifty – finished the session at fresh record closing high. Market made slightly positive start, as exports from special economic zones (SEZs) grew by about 41.5 per cent to reach Rs 2.15 lakh crore during the April-June quarter of the current fiscal (Q1FY22) driven by healthy growth in pharmaceuticals, engineering, and gems and jewellery sectors. SEZs are key export hubs which contribute about one-fourth of the country's total outbound shipments. Further, market maintained its gains with private report stating that the overall hiring activity in India has touched pre-pandemic level and going ahead consumption economy will play an important role in driving job growth further.
In late afternoon session, market extended its gains to touched fresh intraday high point with private report that economic growth to be in the range of 14 per cent to 23 per cent for the first quarter of the current financial year. The growth was projected on a low base of 24.4 per cent contraction in the gross domestic product in Q4 of the previous financial year. Finally, Nifty ended Tuesday’s session above 17100 mark.
Most of the sectoral indices ended in green except Media. The top gainers from the F&O segment were IEX, Bharti Airtel and Eicher Motors. On the other hand, the top losers were Torrent Power, BHEL and AU Small Finance Bank. In the index option segment, maximum OI continues to be seen in the 17300 -17600 calls and 16300 -16650 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 7.99% and reached 14.38. The 50 share Nifty up by 201.15 points or 1.19% to settle at 17,132.20.
Nifty September 2021 futures closed at 17130.20 (LTP) on Tuesday, at a discount of 2.00 points over spot closing of 17132.20, while Nifty October 2021 futures ended at 17155.00 (LTP), at a premium of 22.80 points over spot closing. Nifty September futures saw an addition of 15,588 units, taking the total open interest (OI) to 2,92,987 units. The near month derivatives contract will expire on September 30, 2021 (Provisional).
From the most active contracts, Bharti Airtel September 2021 futures traded at a premium of 1.00 points at 663.00 (LTP) compared with spot closing of 662.00. The numbers of contracts traded were 41,885 (Provisional).
AU Small Finance Bank September 2021 futures traded at a premium of 6.55 points at 1131.90 (LTP) compared with spot closing of 1125.35. The numbers of contracts traded were 31,052 (Provisional).
Reliance Industries September 2021 futures traded at a premium of 8.00 points at 2265.00 (LTP) compared with spot closing of 2257.00. The numbers of contracts traded were 29,795 (Provisional).
Tata Steel September 2021 futures traded at a premium of 2.70 points at 1449.80 (LTP) compared with spot closing of 1447.10. The numbers of contracts traded were 23,711 (Provisional).
Bajaj Finance September 2021 futures traded at a premium of 1.00 points at 7530.00 (LTP) compared with spot closing of 7529.00. The numbers of contracts traded were 23,248 (Provisional).
Among, Nifty calls, 17500 SP from the September month expiry was the most active call with an addition of 3,584 units open interests. Among Nifty puts, 17000 SP from the September month expiry was the most active put with an addition of 17,361 units open interests. The maximum OI outstanding for Calls was at 17500 SP (26,750 units) and that for Puts was at 16500 SP (65,744 units). The respective Support and Resistance levels of Nifty are: Resistance 17,218.52 -- Pivot Point 17,067.18 -- Support -- 16,980.87.
The Nifty Put Call Ratio (PCR) finally stood at (1.55) for September month contract. The top five scrips with highest PCR on TCS (1.13), Bajaj Finserv (1.00), Bajaj Finance (1.00), Hero Motocorp (0.87) and REC (0.85).
Among most active underlying, Bharti Airtel witnessed an addition of 517 units of Open Interest in the September month futures contract, Tata Steel witnessed an addition of 3,412 units of Open Interest in the September month futures contract, Adani Enterprises witnessed an addition of 195 units of Open Interest in the September month futures contract, ICICI Bank witnessed an addition of 3,674 units of Open Interest in the September month futures contract and AU Small Finance Bank witnessed an addition of 4,580 units of Open Interest in the September month futures contract (Provisional).
