After trading higher for most part of the day, S&P CNX – Nifty ended the Tuesday’s session in red zone. Market made optimistic start, as commerce ministry data showed that the country's exports rose by 40.5 per cent to $15.13 billion during October 1-14 on account of healthy performance by key sectors such as petroleum products, engineering and chemicals. Further, market entered into red zone for little time and soon bounced back in green, as Reserve Bank of India (RBI) remained a net buyer of the US currency in August after it net purchased $3.747 billion from the spot market. In the reporting month, RBI had purchased $10.887 billion and sold $7.14 billion in the spot market, according to the monthly RBI bulletin for October 2021. Some support also come after Reserve Bank of India in its latest monthly bulletin ‘October 2021’ showed that domestic demand is gaining strength while aggregate supply conditions are recouping, powered by the robust performance of kharif agricultural production and revival in manufacturing and services. However, in last leg of trade, market wiped out all its gains to end in negative territory.
Most of the sectoral indices ended in green except IT and Financial Services. The top gainers from the F&O segment were LTI, LTTS and IEX. On the other hand, the top losers were BHEL, Tata power and IRCTC. In the index option segment, maximum OI continues to be seen in the 18450 -18700 calls and 17900 -18250 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 1.14% and reached 17.38. The 50 share Nifty down by 58.30 points or 0.32% to settle at 18,418.75.
Nifty October 2021 futures closed at 18437.05 (LTP) on Tuesday, at a premium of 18.30 points over spot closing of 18418.75, while Nifty November 2021 futures ended at 18483.25 (LTP) , at a premium of 64.50 points over spot closing. Nifty October futures saw an addition of 5,670 units, taking the total outstanding open interest (OI) to 2,47,156 units. The near month derivatives contract will expire on October 28, 2021 (Provisional).
From the most active contracts, IEX October 2021 futures traded at a premium of 3.80 points at 849.00 (LTP) compared with spot closing of 845.20. The numbers of contracts traded were 53,564 (Provisional).
HUL October 2021 futures traded at a discount of 9.50 points at 2547.80 (LTP) compared with spot closing of 2557.30. The numbers of contracts traded were 43,422 (Provisional).
ITC October 2021 futures traded at a premium of 0.60 points at 246.70 (LTP) compared with spot closing of 246.10. The numbers of contracts traded were 37,281(Provisional).
IRCTC October 2021 futures traded at a premium of 15.85 points at 5011.90 (LTP) compared with spot closing of 4996.05. The numbers of contracts traded were 34,626 (Provisional).
Reliance Industries October 2021 futures traded at a premium of 6.15 points at 2736.95 (LTP) compared with spot closing of 2730.80. The numbers of contracts traded were 32,393 (Provisional).
Among, Nifty calls, 18500 SP from the October month expiry was the most active call with an addition of 3,000 units open interests. Among Nifty puts, 18400 SP from the October month expiry was the most active put with an addition of 17,928 units open interests. The maximum OI outstanding for Calls was at 18500 SP (42,354 units) and that for Puts was at 18000 SP (54,329 units). The respective Support and Resistance levels of Nifty are: Resistance 18,556.23 -- Pivot Point 18,466.97 -- Support -- 18,329.48.
The Nifty Put Call Ratio (PCR) finally stood at (1.64) for October month contract. The top five scrips with highest PCR on Bajaj Finserv (0.95), Tata Motors (0.91), Vedanta (0.83), Tata Power (0.82) and Balkrishna Industries (0.81).
Among most active underlying, IRCTC witnessed an addition of 1,467 units of Open Interest in the October month futures contract, IEX witnessed an addition of 1,533 units of Open Interest in the October month futures contract, Tata Power witnessed an addition of 2,461 units of Open Interest in the October month futures contract, HUL witnessed an addition of 3,126 units of Open Interest in the October month futures contract and Tata Motors witnessed an addition of 179 units of Open Interest in the October month futures contract (Provisional).
