Nifty settled at record closing high by ending above 17500 mark on Wednesday. Market made positive start, as India’s merchandise exports rose by 45.76% in August 2021 as compared to same period of last year on account of healthy growth in segments like engineering, petroleum products, gems and jewellery and chemicals. Trade deficit, gap between imports and exports, widened to a four-month high of $13.81 billion in August 2021 from $8.20 billion a year ago. Further, market extended its gains with Union Minister for Road Transport and Highways’ statement that the bilateral trade between India and the US has grown from $16 billion to $149 billion in the last two decades. He said the trade is projected to reach $500 billion by 2025. Market continued its upward rally till the end and finished the session with gains of above half a percent with private report stating that India remains an attractive destination for foreign direct investments (FDI) on account of healthy prospects of economic growth and its skilled workforce.
All the sectoral indices ended in green. The top gainers from the F&O segment were GMRINFRA, NTPC and Tata Power. On the other hand, the top losers were Indiabulls Housing Finance, National Aluminium Company and ZEEL. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 16900 -17150 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 1.14% and reached 13.73. The 50 share Nifty up by 139.45 points or 0.80% to settle at 17,519.45.
Nifty September 2021 futures closed at 17535.10 (LTP) on Wednesday, at a premium of 15.65 points over spot closing of 17519.45, while Nifty October 2021 futures ended at 17566.95 (LTP), at a premium of 47.50 points over spot closing. Nifty September futures saw an addition of 14,438 units, taking the total open interest (OI) to 3,06,805 units. The near month derivatives contract will expire on September 30, 2021 (Provisional).
From the most active contracts, ZEEL September 2021 futures traded at a premium of 0.70 points at 255.20 (LTP) compared with spot closing of 254.50. The numbers of contracts traded were 60,535 (Provisional).
Bharti Airtel September 2021 futures traded at a discount of 0.40 points at 727.10 (LTP) compared with spot closing of 727.50. The numbers of contracts traded were 40,262 (Provisional).
SBIN September 2021 futures traded at a premium of 1.30 points at 445.50 (LTP) compared with spot closing of 444.20. The numbers of contracts traded were 26,670 (Provisional).
Reliance Industries September 2021 futures traded at a premium of 8.10 points at 2387.50 (LTP) compared with spot closing of 2379.40. The numbers of contracts traded were 17,292 (Provisional).
Tata Power September 2021 futures traded at a premium of 0.60 points at 140.50 (LTP) compared with spot closing of 139.90. The numbers of contracts traded were 17,074 (Provisional).
Among, Nifty calls, 17600 SP from the September month expiry was the most active call with an addition of 6,006 units open interests. Among Nifty puts, 17500 SP from the September month expiry was the most active put with an addition of 21,014 units open interests. The maximum OI outstanding for Calls was at 18000 SP (28,922 units) and that for Puts was at 17000 SP (78,297 units). The respective Support and Resistance levels of Nifty are: Resistance 17,572.47 -- Pivot Point 17,479.68 -- Support -- 17,426.67.
The Nifty Put Call Ratio (PCR) finally stood at (1.56) for September month contract. The top five scrips with highest PCR on IRCTC (1.05), TCS (0.97), ZEEL (0.96), Havells (0.89) and Voltas (0.88).
Among most active underlying, Bharti Airtel witnessed an addition of 5,249 units of Open Interest in the September month futures contract, ZEEL witnessed an addition of 1,258 units of Open Interest in the September month futures contract, Adani Enterprises witnessed an addition of 3,873 units of Open Interest in the September month futures contract, SBIN witnessed an addition of 1,176 units of Open Interest in the September month futures contract and Tata Power witnessed an addition of 744 units of Open Interest in the September month futures contract (Provisional).
