Indian benchmark -- Nifty -- finished the session with a cut of above half a percent on Thursday. Market made cautious start and turned volatile after Finance ministry stating that India’s external debt rose modestly by 2.1 per cent year-on-year to $570 billion as of March-end 2021, notwithstanding the COVID-19 pandemic. Traders took note of report that government has again extended the existing foreign trade policy (FTP) for another six months till March 31 next year. Earlier, it had extended the FTP (2015-20) until September 30 this year due to the COVID-19 crisis. In late afternoon session, market extended its losses to trade near the lowest points of the day even after Commerce and Industry Minister Piyush Goyal said that India and the US should engage in a much bigger way and New Delhi is ready and willing to expand the economic partnership with America. However, in the second half of the trading session, markets added losses to end lower. Finally, Nifty ended the session below 17650 mark.
Most of the sectoral indices ended in red except PSU Bank, Pharma and Realty. The top gainers from the F&O segment were Aditya Birla Fashion and Retail, CANFINHOME and Vodafone Idea. On the other hand, the top losers were POWERGRID, REC and Indus Tower. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 17300 -17600 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 2.30% and reached 18.40. The 50 share Nifty down by 93.15 points or 0.53% to settle at 17,618.15.
Nifty October 2021 futures closed at 17611.40 (LTP) on Thursday, at a discount of 6.75 points over spot closing of 17618.15, while Nifty November 2021 futures ended at 17643.95 (LTP), at a premium of 25.80 points over spot closing. Nifty October futures saw an addition of 73,141 units, taking the total open interest (Contracts) to 2,41,377 units. The near month derivatives contract will expire on October 28, 2021 (Provisional).
From the most active contracts, Reliance Industries October 2021 futures traded at a premium of 4.90 points at 2515.90 (LTP) compared with spot closing of 2511.00. The numbers of contracts traded were 52,994 (Provisional).
SBIN October 2021 futures traded at a premium of 0.70 points at 453.70 (LTP) compared with spot closing of 453.00. The numbers of contracts traded were 30,941 (Provisional).
Tata Steel October 2021 futures traded at a premium of 4.55 points at 1290.05 (LTP) compared with spot closing of 1285.50. The numbers of contracts traded were 28,352 (Provisional).
ICICI Bank October 2021 futures traded at a premium of 3.10 points at 705.00 (LTP) compared with spot closing of 701.90. The numbers of contracts traded were 23,462 (Provisional).
Infosys October 2021 futures traded at a discount of 10.25 points at 1669.25 (LTP) compared with spot closing of 1679.50. The numbers of contracts traded were 23,376 (Provisional).
Among, Nifty calls, 18000 SP from the October month expiry was the most active call with an addition of 5,125 units open interests. Among Nifty puts, 17600 SP from the October month expiry was the most active put with an addition of 29,761 units open interests. The maximum OI outstanding for Calls was at 18000 SP (34,712 units) and that for Puts was at 17500 SP (45,989 units). The respective Support and Resistance levels of Nifty are: Resistance 17,711.75 -- Pivot Point 17,648.55 -- Support -- 17,554.95.
The Nifty Put Call Ratio (PCR) finally stood at (1.45) for October month contract. The top five scrips with highest PCR on Balkrishna Industries (1.61), Muthoot Finance (0.91), Nestle India (0.86), Jindal Steel & Power (0.84) and Cummins India (0.83).
Among most active underlying, Reliance Industries witnessed an addition of 23,583 units of Open Interest in the October month futures contract, Tata Steel witnessed an addition of 10,438 units of Open Interest in the October month futures contract, Bharti Airtel witnessed an addition of 8,778 units of Open Interest in the October month futures contract, Infosys witnessed an addition of 13,386 units of Open Interest in the October month futures contract and ICICI Bank witnessed an addition of 11,604 units of Open Interest in the October month futures contract (Provisional).
