After making positive start, Nifty ended the Friday’s session in red zone. Market made positive start and extended its gains, as ICRA stated that with half of the 15 high-frequency indicators recovering to the pre-pandemic levels in the second quarter, the economy finally looks nearly out of the pandemic woods, helping the Q2 GDP print at 7.7 per cent. However, in afternoon trade, market wiped out all its gains to turn negative, as traders paid no heed towards Commerce and Industry Minister Piyush Goyal’s statement that all indicators, including GDP, foreign direct investment (FDI) inflows and exports growth, are pointing towards a clear and sharp economic recovery in the country. He said forex reserves have constantly grown from $433 billion in September 2019 to $638 billion in September this year, while FDI inflows in the first four months of the current fiscal rose by 62 per cent, which is higher than the corresponding figure last year. Finally, Index finished the session with losses.
Most of the sectoral indices ended in red except Bank, Financial services and Realty. The top gainers from the F&O segment were TVS Motors, Federal Bank and Oberoi Realty. On the other hand, the top losers were Vedanta, INDIAMART and IBULHSGFIN. In the index option segment, maximum OI continues to be seen in the 18150 -18300 calls and 17900 -18100 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 2.71% and reached 17.55. The 50 share Nifty down by 63.20 points or 0.35% to settle at 18,114.90.
Nifty October 2021 futures closed at 18138.85 (LTP) on Friday, at a premium of 23.95 points over spot closing of 18114.90, while Nifty November 2021 futures ended at 18185.65 (LTP), at a premium of 70.75 points over spot closing. Nifty October futures saw a contraction of 1,536 units, taking the total open interest (OI) to 2,06,027 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 5.15 points at 2630.90 (LTP) compared with spot closing of 2625.75. The numbers of contracts traded were 39,853 (Provisional).
SBIN October 2021 futures traded flat with spot closing of 502.50. The numbers of contracts traded were 31,912 (Provisional).
ICICI Bank October 2021 futures traded at a premium of 1.40 points at 759.40 (LTP) compared with spot closing of 758.00. The numbers of contracts traded were 24,179 (Provisional).
ITC October 2021 futures traded at a premium of 0.60 points at 237.10 (LTP) compared with spot closing of 236.50. The numbers of contracts traded were 23,791 (Provisional).
IEX October 2021 futures traded at a discount of 0.50 points at 763.20 (LTP) compared with spot closing of 763.70. The numbers of contracts traded were 23,773 (Provisional).
Among, Nifty calls, 18300 SP from the October month expiry was the most active call with an addition of 51,440 units open interests. Among Nifty puts, 18000 SP from the October month expiry was the most active put with an addition of 24,542 units open interests. The maximum OI outstanding for Calls was at 18200 SP (84,876 units) and that for Puts was at 18000 SP (74,847 units). The respective Support and Resistance levels of Nifty are: Resistance 18,274.65 -- Pivot Point 18,154.50 -- Support -- 17,994.75.
The Nifty Put Call Ratio (PCR) finally stood at (0.64) for October month contract. The top five scrips with highest PCR on Kotak Mahindra Bank (0.98), Tata Power (0.79), Balkrishna Industries (0.76), Bajaj Finserv (0.75) and Tata Motors (0.75).
Among most active underlying, Tata Motors witnessed an addition of 255 units of Open Interest in the October month futures contract, Reliance Industries witnessed an addition of 3,864 units of Open Interest in the October month futures contract, ICICI Bank witnessed an addition of 3,824 units of Open Interest in the October month futures contract, SBIN witnessed an addition of 7,026 units of Open Interest in the October month futures contract and IEX witnessed a contraction of 44 units of Open Interest in the October month futures contract (Provisional).
