S&P CNX – Nifty finished the Monday’s session at fresh record closing high. After making negative start, market soon entered into positive territory, as Commerce and Industry Minister Piyush Goyal said the country’s exports are growing at a healthy rate and now exporters can aim for $450-500 billion of outbound shipments during the next fiscal year. He added exports have touched $197 billion during April-September this fiscal. Further, market extended its gains to touch fresh intraday high point, as foreign portfolio investors (FPIs) remained net buyers to the tune of Rs 1,997 crore so far in October as India continues to be a competitive investment destination from a long-term perspective.
Some support also came after Finance Ministry's Monthly Economic Review said that strategic reforms and the rapid vaccination drive have placed the country on the path to swift recovery by enabling the economy to ‘navigate the ravaging waves’ of the COVID-19 pandemic. Sustained and robust growth in agriculture, a sharp rebound in manufacturing and industry, resumption of services activity, and buoyant revenues suggest that the economy is progressing well. The external sector continues to offer bright prospects to India's growth revival as the country's merchandise exports crossed the $30-billion mark for the sixth consecutive month in the fiscal year 2021-22. Finally, Nifty ended the day’s trade above 17900 mark.
Most of the sectoral indices ended in green except IT. The top gainers from the F&O segment were IEX , Tata Motors and GMR Infrastructure. On the other hand, the top losers were COFORGE, Bandhan Bank and TCS. 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 increased by 2.76% and reached 16.09. The 50 share Nifty up by 50.75 points or 0.28% to settle at 17,945.95.
Nifty October 2021 futures closed at 17975.35 (LTP) on Monday, at a premium of 29.40 points over spot closing of 17945.95, while Nifty November 2021 futures ended at 18005.00 (LTP), at a premium of 59.05 points over spot closing. Nifty October futures saw a contraction of 1,301 units, taking the total open interest (Contracts) to 2,53,041 units. The near month derivatives contract will expire on October 28, 2021 (Provisional).
From the most active contracts, TCS October 2021 futures traded at a premium of 10.05 points at 3698.00 (LTP) compared with spot closing of 3687.95. The numbers of contracts traded were 45,233 (Provisional).
Tata Motors October 2021 futures traded at a premium of 1.45 points at 419.25 (LTP) compared with spot closing of 417.80. The numbers of contracts traded were 39,774 (Provisional).
Reliance Industries October 2021 futures traded at a premium of 10.05 points at 2665.05 (LTP) compared with spot closing of 2655.00. The numbers of contracts traded were 34,042 (Provisional).
IEX October 2021 futures traded at a premium of 3.15 points at 782.55 (LTP) compared with spot closing of 779.40. The numbers of contracts traded were 31,940 (Provisional).
SBIN October 2021 futures traded at a premium of 1.95 points at 471.95 (LTP) compared with spot closing of 470.00. The numbers of contracts traded were 29,872 (Provisional).
Among, Nifty calls, 18000 SP from the October month expiry was the most active call with an addition of 5,910 units open interests. Among Nifty puts, 17800 SP from the October month expiry was the most active put with an addition of 5,683 units open interests. The maximum OI outstanding for Calls was at 18000 SP (44,890 units) and that for Puts was at 17000 SP (63,638 units). The respective Support and Resistance levels of Nifty are: Resistance 18,045.57 -- Pivot Point 17,942.33 -- Support -- 17,842.72.
The Nifty Put Call Ratio (PCR) finally stood at (1.58) for October month contract. The top five scrips with highest PCR on Tata Motors (0.97), Titan Company (0.97), Balkrishna Industries (0.96), Tata Power (0.86) and Havells (0.85).
Among most active underlying, TCS witnessed an addition of 10,907 units of Open Interest in the October month futures contract, Tata Motors witnessed an addition of 3,419 units of Open Interest in the October month futures contract, IEX witnessed an addition of 595 units of Open Interest in the October month futures contract, Infosys witnessed an addition of 6,716 units of Open Interest in the October month futures contract and Tata Power witnessed an addition of 147 units of Open Interest in the October month futures contract (Provisional).
