The local benchmark -- Nifty – ended the last day of trading week at record closing high. Market made positive start, as Ficci said India’s GDP is expected to grow at 9.1 per cent in 2021-22 as economic recovery, post the second wave of the pandemic, seems to be holding ground. Ficci’s Economic Outlook Survey also noted that the ongoing festive season would support this momentum. Market added more points to touched intraday high point, as Reserve Bank of India’s monetary policy committee kept key interest rates unchanged, while retaining an accommodative stance to help revive the economy, which is facing a slowdown due to the coronavirus pandemic.
Some support also came with Commerce and Industry Minister Piyush Goyal’s statement that the US has huge investment surpluses that can be used in developing infrastructure in India and make it a manufacturing base to help American economy grow and provide goods and services at affordable and competitive prices. Traders overlooked reports that former Reserve Bank Governor C Rangarajan stated that India becoming a $five trillion economy by 2025 is impossible under the current circumstance and the country needs to grow at nine per cent per annum for the next five years in order to achieve that. Finally, Nifty ended the session with gains of above half a percent.
Most of the sectoral indices ended in green except FMCG, Pharma and Realty. The top gainers from the F&O segment were DIXON, IEX and IndiaMART InterMESH. On the other hand, the top losers were ICICIPRULI, Godrej Properties and PEL. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 16900 -17200 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 3.11% and reached 15.65. The 50 share Nifty up by 104.85 points or 0.59% to settle at 17,895.20.
Nifty October 2021 futures closed at 17913.00 (LTP) on Friday, at a premium of 17.80 points over spot closing of 17895.20 , while Nifty November 2021 futures ended at 17945.00 (LTP) , at a premium of 49.80 points over spot closing. Nifty October futures saw an addition of 14,396 units, taking the total open interest (Contracts) to 2,59,613 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 3.80 points at 2673.00 (LTP) compared with spot closing of 2669.20. The numbers of contracts traded were 54,026 (Provisional).
Tata Motors October 2021 futures traded at a premium of 0.65 points at 383.45 (LTP) compared with spot closing of 382.80. The numbers of contracts traded were 31,586 (Provisional).
IRCTC October 2021 futures traded at a premium of 2.00 points at 4847.00 (LTP) compared with spot closing of 4845.00. The numbers of contracts traded were 27,652 (Provisional).
IEX October 2021 futures traded at a premium of 2.80 points at 707.10 (LTP) compared with spot closing of 704.30. The numbers of contracts traded were 27,408 (Provisional).
Tata Steel October 2021 futures traded at a premium of 2.20 points at 1305.00 (LTP) compared with spot closing of 1302.80. The numbers of contracts traded were 25,075 (Provisional).
Among, Nifty calls, 18000 SP from the October month expiry was the most active call with a contraction of 2,553 units open interests. Among Nifty puts, 17800 SP from the October month expiry was the most active put with an addition of 2,204 units open interests. The maximum OI outstanding for Calls was at 18000 SP (39,640 units) and that for Puts was at 17000 SP (70,061 units). The respective Support and Resistance levels of Nifty are: Resistance 17,944.58 -- Pivot Point 17,892.47 -- Support -- 17,843.08.
The Nifty Put Call Ratio (PCR) finally stood at (1.47) for October month contract. The top five scrips with highest PCR on Titan Company (0.94), Balkrishna Industries (0.94), Bandhan Bank (0.94), ZEEL (0.86) and Cummins India (0.78).
Among most active underlying, IRCTC witnessed an addition of 2,140 units of Open Interest in the October month futures contract, Reliance Industries witnessed an addition of 5,001 units of Open Interest in the October month futures contract, Tata Motors witnessed a contraction of 2,067 units of Open Interest in the October month futures contract, Tata Steel witnessed an addition of 100 units of Open Interest in the October month futures contract and TCS witnessed an addition of 1,279 units of Open Interest in the October month futures contract (Provisional).
