Indian benchmark – Nifty gave powerful performance by surpassing its psychological level of 17,800. Market made positive start, as traders took support foreign direct investment equity inflow into the country more than doubled to $20.42 billion during the April-July period of the current fiscal. Total Foreign Direct Investment (FDI) inflow rose to $27.37 billion during the first four months of 2021-22. further, market extended its upside, as Commerce and Industry Minister Piyush Goyal stated that India and the UAE have formally launched negotiations for a free trade agreement and the first round of talks will begin from September 23 with an aim to conclude it by end-December, a move aimed at boosting trade and investments between the countries. Index continued rally mood to reach at fresh intraday high point and ended the session with the gains of above one and half a percent. Additional support came after Reserve Bank Governor Shaktikanta Das underlined the need for a big push to infrastructure investment, education and digital economy to achieve sustainable growth and generate jobs in smaller cities.
All the sectoral indices ended in green. The top gainers from the F&O segment were United Spirits, Godrej Properties and DLF. On the other hand, the top losers were Balkrishna Industries, ICICIGI and ZEEL. 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 increased by 16.60% and reached 0.66. The 50 share Nifty up by 276.30 points or 1.57% to settle at 17,822.95.
Nifty September 2021 futures closed at 17842.00 (LTP) on Thursday, at a premium of 19.05 points over spot closing of 17822.95, while Nifty October 2021 futures ended at 17869.10 (LTP), at a premium of 46.15 points over spot closing. Nifty September futures saw a contraction of 2,016 units, taking the total open interest (OI) to 2,51,478 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 1.85 points at 2489.95 (LTP) compared with spot closing of 2488.10. The numbers of contracts traded were 45,225 (Provisional).
ZEEL September 2021 futures traded at a premium of 0.65 points at 319.60 (LTP) compared with spot closing of 318.95. The numbers of contracts traded were 33,363 (Provisional).
DLF September 2021 futures traded at a discount of 0.15 points at 402.75 (LTP) compared with spot closing of 402.90. The numbers of contracts traded were 31,469 (Provisional).
Tata Motors September 2021 futures traded at a premium of 1.00 points at 322.00 (LTP) compared with spot closing of 321.00. The numbers of contracts traded were 22,499 (Provisional).
SBIN September 2021 futures traded at a premium of 0.60 points at 450.60 (LTP) compared with spot closing of 450.00. The numbers of contracts traded were 21,210 (Provisional).
Among, Nifty calls, 18000 SP from the September month expiry was the most active call with an addition of 30,785 units open interests. Among Nifty puts, 17700 SP from the September month expiry was the most active put with an addition of 34,648 units open interests. The maximum OI outstanding for Calls was at 18000 SP (70,358 units) and that for Puts was at 17000 SP (84,254 units). The respective Support and Resistance levels of Nifty are: Resistance 17,895.72 -- Pivot Point 17,771.13 -- Support -- 17,698.37.
The Nifty Put Call Ratio (PCR) finally stood at (1.33) for September month contract. The top five scrips with highest PCR on Bajaj Finserv (1.11), ZEEL (1.00), Bajaj Finance (0.96), Voltas (0.93) and Escorts (0.86).
Among most active underlying, DLF witnessed an addition of 304 units of Open Interest in the September month futures contract, ZEEL witnessed an addition of 67 units of Open Interest in the September month futures contract, Reliance Industries witnessed an addition of 4,794 units of Open Interest in the September month futures contract, Bharti Airtel witnessed an addition of 1,194 units of Open Interest in the September month futures contract and Godrej Properties witnessed an addition of 684 units of Open Interest in the September month futures contract (Provisional).
