Nifty gave powerful performance by surpassing its psychological level of 17,200 on Thursday. Market made slightly positive start, as traders took support with the finance ministry stating that Goods and Services Tax (GST) collection topped the Rs 1-lakh-crore mark for the second straight month in August at Rs 1.12 lakh crore, signalling accelerating economic activity. Further market remained in green zone with RBI’s statement that India's holding of IMF's Special Drawing Rights (SDR) has gone up to SDR 13.66 billion which is equivalent to USD 19.41 billion as per exchange rate. The International Monetary Fund (IMF) makes the general SDR allocation to its members in proportion to their existing quotas in the multilateral lending agency. Market extended its gains to touched fresh intraday high point, as Jayanth R Varma, who is a member of the Monetary Policy Committee (MPC) of the Reserve Bank, has said that the ongoing economic recovery will quickly take India above the pre-pandemic levels in most sectors of the economy except contact-intensive services. He noted that the improved health of the Indian financial sector is also a positive factor for economic growth. Finally nifty ended the session with the gains of over half a percent.
Most of the sectoral indices ended in green except PSU Bank and Auto. The top gainers from the F&O segment were Vodafone Idea, CONCOR and INDIAMART. On the other hand, the top losers were City Union Bank, IPCA Laboratories and Escorts. 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 0.38% and reached 14.24. The 50 share Nifty up by 157.90 points or 0.92% to settle at 17,234.15.
Nifty September 2021 futures closed at 17259.40 (LTP) on Thursday, at a premium of 25.25 points over spot closing of 17234.15, while Nifty October 2021 futures ended at 17285.00 (LTP), at a premium of 50.85 points over spot closing. Nifty September futures saw an addition of 16,040 units, taking the total open interest (Contracts) to 3,00,919 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 4.10 points at 2297.10 (LTP) compared with spot closing of 2293.00. The numbers of contracts traded were 25,281 (Provisional).
HDFC Life Insurance September 2021 futures traded at a premium of 0.50 points at 760.50 (LTP) compared with spot closing of 760.00. The numbers of contracts traded were 20,212 (Provisional).
Kotak Mahindra Bank September 2021 futures traded at a premium of 7.00 points at 1795.40 (LTP) compared with spot closing of 1788.40. The numbers of contracts traded were 17,705 (Provisional).
Dr Reddy's Laboratories September 2021 futures traded at a premium of 10.40 points at 4860.05 (LTP) compared with spot closing of 4849.65. The numbers of contracts traded were 15,338 (Provisional).
SBIN September 2021 futures traded at a premium of 1.80 points at 431.40 (LTP) compared with spot closing of 429.60. The numbers of contracts traded were 14,635 (Provisional).
Among, Nifty calls, 17500 SP from the September month expiry was the most active call with an addition of 965 units open interests. Among Nifty puts, 17000 SP from the September month expiry was the most active put with an addition of 5,452 units open interests. The maximum OI outstanding for Calls was at 17500 SP (33,031 units) and that for Puts was at 16500 SP (57,341 units). The respective Support and Resistance levels of Nifty are: Resistance 17,299.87 -- Pivot Point 17,179.78 -- Support -- 17,114.07.
The Nifty Put Call Ratio (PCR) finally stood at (1.46) for September month contract. The top five scrips with highest PCR on TCS (1.02), REC (1.01), Hero Motocorp (0.88), HUL (0.84) and Havells (0.82).
Among most active underlying, HDFC Life Insurance witnessed an addition of 1,322 units of Open Interest in the September month futures contract, Bharti Airtel witnessed an addition of 731 units of Open Interest in the September month futures contract, Tata Steel witnessed a contraction of 149 units of Open Interest in the September month futures contract, Reliance Industries witnessed a contraction of 360 units of Open Interest in the September month futures contract and TCS witnessed an addition of 2,417 units of Open Interest in the September month futures contract (Provisional).
