Indian benchmark -- Nifty -- finished the session above 17550 mark on Tuesday. Market made positive start, as private report stated that investors have been pouring money into India’s stock market, and it could grow to more than $5 trillion to become the fifth largest in the world within three years. It added Indian start-ups have raised $10 billion through IPOs so far this year - more money than was raised in the last three years. Further, market turned volatile, as Icra Ratings said with the benefits of unlocking measures tapering out, high-frequency indicators have become uneven since August. The performance of the high-frequency indicators in August 2021 was decidedly uneven, especially when compared to the pre-COVID levels. In afternoon session, market extended its gains, as Reserve Bank of India (RBI) in its latest survey has showed that exports of software services, including services delivered by foreign affiliates of Indian companies, recorded 2.1 per cent growth during 2020-21 and stood at $148.3 billion. Finally, Nifty ended the session with gains of over half a percent.
Most of the sectoral indices ended in green except Auto, Consumer Durables and PSU Bank. The top gainers from the F&O segment were Mindtree, JSW Steel and PVR. On the other hand, the top losers were IRCTC, Maruti and IBULHSGFIN. In the index option segment, maximum OI continues to be seen in the 17900 -18100 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 16.52% and reached 5.55. The 50 share Nifty up by 165.10 points or 0.95% to settle at 17,562.00.
Nifty September 2021 futures closed at 17562.05 (LTP) on Tuesday, at a premium of 0.05 points over spot closing of 17562.00, while Nifty October 2021 futures ended at 17595.00 (LTP), at a premium of 33.00 points over spot closing. Nifty September futures saw an addition of 0.01 million (mn) units, taking the total outstanding open interest (OI) to 1,54,324 mn units. The near month derivatives contract will expire on September 30, 2021 (Provisional).
From the most active contracts, Tata Steel September 2021 futures traded at a discount of 2.50 points at 1294.00 (LTP) compared with spot closing of 1296.50. The numbers of contracts traded were 41,517 (Provisional).
ITC September 2021 futures traded at a premium of 0.10 points at 241.65 (LTP) compared with spot closing of 241.55. The numbers of contracts traded were 31,222 (Provisional).
Reliance Industries September 2021 futures traded at a premium of 3.05 points at 2403.05 (LTP) compared with spot closing of 2400.00. The numbers of contracts traded were 28,858 (Provisional).
Bajaj Finance September 2021 futures traded at a premium of 15.00 points at 7835.00 (LTP) compared with spot closing of 7820.00. The numbers of contracts traded were 23,516 (Provisional).
HDFC Bank September 2021 futures traded at a premium of 4.25 points at 1557.75 (LTP) compared with spot closing of 1553.50. The numbers of contracts traded were 17,828 (Provisional).
Among, Nifty calls, 17600 SP from the September month expiry was the most active call with an addition of 319 units open interests. Among Nifty puts, 17400 SP from the September month expiry was the most active put with an addition of 5,180 units open interests. The maximum OI outstanding for Calls was at 18000 SP (37,907 units) and that for Puts was at 17000 SP (65,258 units). The respective Support and Resistance levels of Nifty are: Resistance 17,651.53 -- Pivot Point 17,488.82 -- Support --17,399.28.
The Nifty Put Call Ratio (PCR) finally stood at (1.39) for September month contract. The top five scrips with highest PCR on Voltas (0.93), Bajaj Finance (0.88), Mindtree (0.87), Kotak Mahindra Bank (0.86) and IRCTC (0.80).
Among most active underlying, Tata Steel witnessed an addition of 1,798 units of Open Interest in the September month futures contract, ITC witnessed an addition of 2,304 units of Open Interest in the September month futures contract, Bajaj Finance witnessed an addition of 1,607 units of Open Interest in the September month futures contract, Bharti Airtel witnessed an addition of 384 units of Open Interest in the September month futures contract and Infosys witnessed an addition of 2,855 units of Open Interest in the September month futures contract (Provisional).
