CNX S&P – Nifty continued weak trade for third straight session. Market made positive start and soon slipped into red zone, as India, the world's third-largest energy consumer and importer, warned of high oil prices hurting the nascent and fragile global economic recovery. Further, market extended its losses followed by weak global market as investors concerned about inflation and China’s economic slowdown took advantage of an earnings season rally to bank some gains. Market continued downside trade till the end even after labour ministry stating that retail inflation for farm workers and rural labourers eased to 2.89 per cent and 3.16 per cent, respectively, in September, mainly due to lower prices of certain food items. Finally, Nifty ended the session below its 18200 level.
Most of the sectoral indices ended in red except Bank, Auto and PSU Bank. The top gainers from the F&O segment were Kotak Mahindra Bank, RBL Bank and Tata Motors. On the other hand, the top losers were Berger Paints, L&TFH and Havells. In the index option segment, maximum OI continues to be seen in the 18450 -18700 calls and 18100 -18350 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 1.51% and reached 18.04. The 50 share Nifty down by 88.50 points or 0.48% to settle at 18,178.10.
Nifty October 2021 futures closed at 18240.50 (LTP) on Thursday, at a premium of 62.40 points over spot closing of 18178.10, while Nifty November 2021 futures ended at 18290.10 (LTP), at a premium of 112.00 points over spot closing. Nifty October futures saw a contraction of 6,290 units, taking the total open interest (OI) to 2,13,986 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 10.00 points at 2645.00 (LTP) compared with spot closing of 2635.00. The numbers of contracts traded were 46,708 (Provisional).
Adani Ports October 2021 futures traded at a premium of 1.95 points at 780.95 (LTP) compared with spot closing of 779.00. The numbers of contracts traded were 33,890 (Provisional).
Asian Paints October 2021 futures traded at a discount of 6.00 points at 3009.00 (LTP) compared with spot closing of 3015.00. The numbers of contracts traded were 31,845 (Provisional).
Kotak Mahindra Bank October 2021 futures traded at a discount of 3.00 points at 2152.00 (LTP) compared with spot closing of 2155.00. The numbers of contracts traded were 27,257 (Provisional).
Tata Motors October 2021 futures traded at a premium of 1.55 points at 510.50 (LTP) compared with spot closing of 508.95. The numbers of contracts traded were 24,601 (Provisional).
Among, Nifty calls, 18400 SP from the October month expiry was the most active call with an addition of 45,340 units open interests. Among Nifty puts, 18100 SP from the October month expiry was the most active put with an addition of 8,725 units open interests. The maximum OI outstanding for Calls was at 18500 SP (84,876 units) and that for Puts was at 18200 SP (71,228 units). The respective Support and Resistance levels of Nifty are: Resistance 18,358.87 -- Pivot Point 18,203.43 -- Support -- 18,022.67.
The Nifty Put Call Ratio (PCR) finally stood at (0.77) for October month contract. The top five scrips with highest PCR on Tata Motors (0.86), Kotak Mahindra Bank (0.81), Tata Power (0.76), Bajaj Finance (0.75) and Balkrishna Industries (0.74).
Among most active underlying, Tata Motors witnessed an addition of 816 units of Open Interest in the October month futures contract, Adani Ports witnessed an addition of 11,775 units of Open Interest in the October month futures contract, Reliance Industries witnessed an addition of 9,663 units of Open Interest in the October month futures contract, Asian Paints witnessed an addition of 1,378 units of Open Interest in the October month futures contract and Kotak Mahindra Bank witnessed an addition of 3,375 units of Open Interest in the October month futures contract (Provisional).
