Nifty continued its bull run on Friday and finished the session above 17300 mark. Market made positive start, as commerce ministry's provisional data showed that India's exports jumped 45.17 per cent to $33.14 billion in August as against $22.83 billion in the same month last year. Market remained in green, as Reserve Bank of India's deputy governor M Rajeshwar Rao said the account aggregator ecosystem in the country is in a nascent stage and there is a need for its orderly growth. Further, market turned volatile for little time with Ratings agency ICRA’s statement that fiscal balances of 19 states in the quarter ended June of current financial year (Q1FY22) are weaker than pre-Covid levels with milder recovery in revenue and spending.
However, market added traction to trade higher in afternoon session, as India's services sector expanded in August at the fastest pace in one-and-a-half years amid strong inflows of new work and improved demand conditions. The seasonally adjusted India Services Business Activity Index rose from 45.4 in July to 56.7 in August, as the reopening of several establishments and increased consumer footfall boosted sales. Finally, nifty ended the session near intraday high point.
Most of the sectoral indices ended in green except Bank, FMCG and Financial Services. The top gainers from the F&O segment were LTTS, Exide Industries and BEL. On the other hand, the top losers were Cholamandalam Investment, HDFC Life Insurance and IEX. In the index option segment, maximum OI continues to be seen in the 17350 -17600 calls and 16800 -17200 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 2.12% and reached 14.54. The 50 share Nifty up by 89.45 points or 0.52% to settle at 17,323.60.
Nifty September 2021 futures closed at 17332.00 (LTP) on Friday, at a premium of 8.40 points over spot closing of 17323.60, while Nifty October 2021 futures ended at 17353.70 (LTP), at a premium of 30.10 points over spot closing. Nifty September futures saw an addition of 3,780 units, taking the total open interest (OI) to 3,00,110 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 9.65 points at 2399.30 (LTP) compared with spot closing of 2389.65. The numbers of contracts traded were 83,399 (Provisional).
Exide Industries September 2021 futures traded at a premium of 0.65 points at 189.15 (LTP) compared with spot closing of 188.50. The numbers of contracts traded were 19,853 (Provisional).
Tata Steel September 2021 futures traded at a premium of 6.85 points at 1447.00 (LTP) compared with spot closing of 1440.15. The numbers of contracts traded were 18,801 (Provisional).
Kotak Mahindra Bank September 2021 futures traded at a premium of 4.25 points at 1797.05 (LTP) compared with spot closing of 1792.80. The numbers of contracts traded were 18,191 (Provisional).
HDFC Life Insurance September 2021 futures traded at a premium of 1.45 points at 735.45 (LTP) compared with spot closing of 734.00. The numbers of contracts traded were 16,597 (Provisional).
Among, Nifty calls, 17500 SP from the September month expiry was the most active call with an addition of 2,121 units open interests. Among Nifty puts, 17300 SP from the September month expiry was the most active put with an addition of 17,530 units open interests. The maximum OI outstanding for Calls was at 17500 SP (34,951 units) and that for Puts was at 17000 SP (60,206 units). The respective Support and Resistance levels of Nifty are: Resistance 17,371.73 -- Pivot Point 17,291.97 -- Support -- 17,243.83.
The Nifty Put Call Ratio (PCR) finally stood at (1.46) for September month contract. The top five scrips with highest PCR on TCS (0.95), Havells (0.86), Titan Company (0.83), Bajaj Finance (0.80) and REC (0.78).
Among most active underlying, Reliance Industries witnessed an addition of 5,515 units of Open Interest in the September month futures contract, Tata Steel witnessed an addition of 120 units of Open Interest in the September month futures contract, HDFC Bank witnessed an addition of 1,993 units of Open Interest in the September month futures contract, Exide Industries witnessed an addition of 920 units of Open Interest in the September month futures contract and HDFC Life Insurance witnessed an addition of 3,477 units of Open Interest in the September month futures contract (Provisional).
