Nifty ended Monday’s session above 17350 mark. Market made positive start, as RBI data showed that the country's foreign exchange reserves soared by $16.663 billion to touch a lifetime high of $633.558 billion in the week ended August 27, mainly due to an increase in Special Drawing Rights (SDR) holdings. Further, market maintained its gains with a private report that the government's collections from levy of excise duty on petroleum products have jumped 48 per cent in the first four months of the current fiscal year, with the incremental mop-up being 3-times of the repayment liability of legacy oil bonds in the full fiscal. Market continued fine fettle trade till the end. Traders also took support after private report stated that Union government's net (post-refunds) direct tax collections rose 95% on-year to Rs 3.7 lakh crore till September 2 of the current financial year, thanks to a low base, a pick-up in economic activities, higher corporate earnings and better compliance. The robust collections are despite a surge in refunds.
Most of the sectoral indices ended in red except Auto, IT and Media. The top gainers from the F&O segment were IndiaMART, National Aluminium Company and IRCTC. On the other hand, the top losers were Hindustan Petroleum Corporation, HAL and ICICI Lombard General Insurance. 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 3.86% and reached 15.11. The 50 share Nifty up by 54.20 points or 0.31% to settle at 17,377.80.
Nifty September 2021 futures closed at 17408.00 (LTP) on Monday, at a premium of 30.20 points over spot closing of 17377.80, while Nifty October 2021 futures ended at 17430.95 (LTP), at a premium of 53.15 points over spot closing. Nifty September futures saw an addition of 5,157 units, taking the total open interest (Contracts) to 3,03,102 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 1.00 points at 2430.00 (LTP) compared with spot closing of 2429.00. The numbers of contracts traded were 80,621 (Provisional).
Tata Steel September 2021 futures traded at a premium of 5.25 points at 1440.70 (LTP) compared with spot closing of 1435.45. The numbers of contracts traded were 15,079 (Provisional).
Adani Enterprises September 2021 futures traded at a premium of 7.30 points at 1588.65 (LTP) compared with spot closing of 1581.35. The numbers of contracts traded were 13,072 (Provisional).
IRCTC September 2021 futures traded at a premium of 9.90 points at 3029.90 (LTP) compared with spot closing of 3020.00. The numbers of contracts traded were 12,044 (Provisional).
National Aluminium Company September 2021 futures traded at a discount of 0.70 points at 98.75 (LTP) compared with spot closing of 99.45. The numbers of contracts traded were 11,015 (Provisional).
Among, Nifty calls, 17500 SP from the September month expiry was the most active call with an addition of 390 units open interests. Among Nifty puts, 17400 SP from the September month expiry was the most active put with an addition of 9,085 units open interests. The maximum OI outstanding for Calls was at 17500 SP (35,280 units) and that for Puts was at 17000 SP (69,431 units). The respective Support and Resistance levels of Nifty are: Resistance 17,423.05 -- Pivot Point 17,384.30 -- Support -- 17,339.05.
The Nifty Put Call Ratio (PCR) finally stood at (1.53) for September month contract. The top five scrips with highest PCR on Havells (0.91), Titan Company (0.87), TCS (0.86), Wipro (0.78) and SRF (0.78).
Among most active underlying, Reliance Industries witnessed an addition of 5,596 units of Open Interest in the September month futures contract, Adani Enterprises witnessed an addition of 675 units of Open Interest in the September month futures contract, Tata Steel witnessed an addition of 689 units of Open Interest in the September month futures contract, National Aluminium Company witnessed an addition of 1,104 units of Open Interest in the September month futures contract and IRCTC witnessed an addition of 452 units of Open Interest in the September month futures contract (Provisional).
