S&P CNX -- Nifty ended Tuesday’s session below 17800 mark. Market made cautious start after the World Bank said that East Asia and Pacific region's recovery has been undermined by the spread of the COVID-19 Delta variant, which is likely slowing economic growth and increasing inequality in the region. Economic activity began to slow in the second quarter of 2021, and growth forecasts have been downgraded for most countries in the region, according to the World Bank's East Asia and Pacific Fall 2021 Economic Update. Further, market extended its losses, even as domestic rating agency Crisil Ratings’ report that the monthly collection ratios of its rated securitised pools has seen improvement due to the gradual easing of COVID-19 related restrictions. The ratios had declined between April and June 2021 following the second wave of the Covid-19 pandemic. Market touched its intraday low point in late afternoon session and ended the day’s trade with the cut of above half a percent.
Most of the sectoral indices ended in red except Metal, PSU Bank and Pharma. The top gainers from the F&O segment were BHEL, PFC and Hindustan Petroleum Corporation. On the other hand, the top losers were HDFCAMC, ZEEL and Metropolis Healthcare. 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 increased by 18.54% and reached 2.67. The 50 share Nifty down by 106.50 points or 0.60% to settle at 17,748.60.
Nifty September 2021 futures closed at 17730.50 (LTP) on Tuesday, at a discount of 18.10 points over spot closing of 17748.60, while Nifty October 2021 futures ended at 17760.95 (LTP), at a premium of 12.35 points over spot closing. Nifty September futures saw an addition of 5,003 units, taking the total open interest (OI) to 2,25,436 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 discount of 3.45 points at 2541.55 (LTP) compared with spot closing of 2545.00. The numbers of contracts traded were 59,809 (Provisional).
SBIN September 2021 futures traded at a premium of 0.50 points at 445.15 (LTP) compared with spot closing of 444.65. The numbers of contracts traded were 29,957 (Provisional).
HDFC Bank September 2021 futures traded at a premium of 1.20 points at 1608.00 (LTP) compared with spot closing of 1606.80. The numbers of contracts traded were 28,758 (Provisional).
ICICI Bank September 2021 futures traded at a premium of 0.85 points at 716.75 (LTP) compared with spot closing of 715.90. The numbers of contracts traded were 27,294 (Provisional).
Tata Steel September 2021 futures traded at a premium of 1.00 points at 1280.00 (LTP) compared with spot closing of 1279.00. The numbers of contracts traded were 23,549 (Provisional).
Among, Nifty calls, 17900 SP from the September month expiry was the most active call with an addition of 34,759 units open interests. Among Nifty puts, 17600 SP from the September month expiry was the most active put with an addition of 7,927 units open interests. The maximum OI outstanding for Calls was at 18000 SP (1,66,882 units) and that for Puts was at 17000 SP (1,02,860 units). The respective Support and Resistance levels of Nifty are: Resistance 17,915.60 -- Pivot Point 17,745.85 -- Support -- 17,578.85.
The Nifty Put Call Ratio (PCR) finally stood at (0.77) for September month contract. The top five scrips with highest PCR on ZEEL (0.93), IOC (0.91), Escorts (0.90), DLF (0.85) and Coal India (0.84).
Among most active underlying, Reliance Industries witnessed an addition of 385 units of Open Interest in the September month futures contract, Bharti Airtel witnessed a contraction of 4,064 units of Open Interest in the September month futures contract, ICICI Bank witnessed an addition of 603 units of Open Interest in the September month futures contract, Tata Steel witnessed a contraction of 915 units of Open Interest in the September month futures contract and HDFC Bank witnessed a contraction of 1,146 units of Open Interest in the September month futures contract (Provisional).
