Nifty ended the volatile day of trade in with slender gain. Soon after making positive start, market entered into red terrain, as Foreign portfolio investors (FPIs) have turned net sellers in Indian market by pulling out Rs 3,825 crore in October so far. However, in late morning deal market wiped out all its losses to turn green, after industry chamber PHDCCI said it expects strong GDP growth in the coming quarters with the economic recovery gaining momentum. Out of the 12 lead economic and business indicators of QET (Quick Economic Trends), tracked by the industry body, nine have shown an uptick in the sequential growth for the month of September 2021 as compared to six showing the uptrend in August 2021. In last leg of trade, market trimmed most of its gains, but managed to end the session in positive zone. Traders took some support with India Ratings & Research’s report stating that the recently-concluded normal monsoon season will provide a much-needed cushion to both India's agriculture and inflation in 2021-22.
Most of the sectoral indices ended in red except Bank, Financial services and PSU Bank. The top gainers from the F&O segment were ICICI Bank, PVR and Torrent Pharmaceuticals. On the other hand, the top losers were IEX, INDIAMART and IRCTC. 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 increased by 0.37% and reached 17.61. The 50 share Nifty up by 10.50 points or 0.05% to settle at 18,125.40.
Nifty October 2021 futures closed at 18153.90 (LTP) on Monday, at a premium of 28.50 points over spot closing of 18125.40, while Nifty November 2021 futures ended at 18195.00 (LTP), at a premium of 69.60 points over spot closing. Nifty October futures saw an addition of 23 units, taking the total open interest (OI) to 1,99,919 units. The near month derivatives contract will expire on October 28, 2021(Provisional).
From the most active contracts, ICICI Bank October 2021 futures traded at a premium of 0.25 points at 847.00 (LTP) compared with spot closing of 846.75. The numbers of contracts traded were 82,813 (Provisional).
Reliance Industries October 2021 futures traded at a premium of 2.90 points at 2609.90 (LTP) compared with spot closing of 2607.00. The numbers of contracts traded were 64,849 (Provisional).
SBIN October 2021 futures traded at a premium of 1.90 points at 509.00 (LTP) compared with spot closing of 507.10. The numbers of contracts traded were 41,698 (Provisional).
Axis Bank October 2021 futures traded at a premium of 1.00 points at 846.00 (LTP) compared with spot closing of 845.00. The numbers of contracts traded were 34,534(Provisional).
HDFC Bank October 2021 futures traded at a premium of 2.45 points at 1659.75 (LTP) compared with spot closing of 1657.30. The numbers of contracts traded were 26,806 (Provisional).
Among, Nifty calls, 18200 SP from the October month expiry was the most active call with an addition of 191 units open interests. Among Nifty puts, 18000 SP from the October month expiry was the most active put with an addition of 8,810 units open interests. The maximum OI outstanding for Calls was at 18200 SP (1,28,488 units) and that for Puts was at 18000 SP (81,062 units). The respective Support and Resistance levels of Nifty are: Resistance 18,255.03 -- Pivot Point 18,111.77 -- Support -- 17,982.13.
The Nifty Put Call Ratio (PCR) finally stood at (0.64) for October month contract. The top five scrips with highest PCR on ICICI Bank (0.86), Kotak Mahindra Bank (0.79), SBIN (0.79), Bank of Baroda (0.76) and Balkrishna Industries (0.73).
Among most active underlying, ICICI Bank witnessed an addition of 12,559 units of Open Interest in the October month futures contract, Reliance Industries witnessed an addition of 2,663 units of Open Interest in the October month futures contract, Axis Bank witnessed an addition of 873 units of Open Interest in the October month futures contract, SBIN witnessed an addition of 3,347 units of Open Interest in the October month futures contract and Tata Steel witnessed a contraction of 471 units of Open Interest in the October month futures contract (Provisional).
