The local benchmark -- Nifty – ended the Tuesday’s session near intraday high point. Market made positive start, as private report stated that the economy is likely to register a 9.5 per cent growth this fiscal over 7.3 per cent contraction last year, as the ongoing recovery is faster and more credible than earlier foreseen. However, market trimmed most of its gains to turn volatile, amid report that Foreign Institutional Investors (FII) have been net sellers of domestic stocks for 5 consecutive days now. FIIs sold Rs 2,459 crore worth of equities on Monday. Domestic Institutional Investors, however, were net buyers of stocks worth Rs 2,390 crore. However, in late afternoon session, market regained its early morning gains, as RBI Governor Das said that RBI stresses on strong governance framework in banks, NBFCs for building resilient financial sector. Finally, Nifty ended the day’s trade with gains of above half a percent.
Most of the sectoral indices ended in green except Private Bank. The top gainers from the F&O segment were RAMCOCEM, IDFC First Bank and DIXON. On the other hand, the top losers were Syngene International, Canara Bank and Torrent Pharmaceuticals. In the index option segment, maximum OI continues to be seen in the 18850 -19200 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 4.86% and reached 16.75. The 50 share Nifty up by 143.00 points or 0.79% to settle at 18,268.40.
Nifty October 2021 futures closed at 18350.00 (LTP) on Tuesday, at a premium of 81.60 points over spot closing of 18268.40, while Nifty November 2021 futures ended at 18387.70 (LTP), at a premium of 119.30 points over spot closing. Nifty October futures saw a contraction of 4,824 units, taking the total outstanding open interest (Contracts) to 1,78,897 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 2.70 points at 2669.00 (LTP) compared with spot closing of 2666.30. The numbers of contracts traded were 46,803 (Provisional).
Kotak Mahindra Bank October 2021 futures traded at a premium of 8.80 points at 2219.45 (LTP) compared with spot closing of 2210.65. The numbers of contracts traded were 40,478 (Provisional).
Tech Mahindra October 2021 futures traded at a discount of 4.65 points at 1559.35 (LTP) compared with spot closing of 1564.00. The numbers of contracts traded were 39,151 (Provisional).
ICICI Bank October 2021 futures traded at a discount of 1.45 points at 830.35 (LTP) compared with spot closing of 831.80. The numbers of contracts traded were 32,882 (Provisional).
SBIN October 2021 futures traded at a premium of 1.20 points at 513.95 (LTP) compared with spot closing of 512.75. The numbers of contracts traded were 29,739 (Provisional).
Among, Nifty calls, 18300 SP from the October month expiry was the most active call with a contraction of 5,438 units open interests. Among Nifty puts, 18200 SP from the October month expiry was the most active put with an addition of 27,877 units open interests. The maximum OI outstanding for Calls was at 19000 SP (1,08,057 units) and that for Puts was at 18000 SP (87,548 units). The respective Support and Resistance levels of Nifty are: Resistance 18,352.80 -- Pivot Point 18,226.05 -- Support -- 18,141.65.
The Nifty Put Call Ratio (PCR) finally stood at (0.81) for October month contract. The top five scrips with highest PCR on SBIN (0.90), Bank of Baroda (0.88), Kotak Mahindra Bank (0.82), Balkrishna Industries (0.82) and HPCL (0.76).
Among most active underlying, ICICI Bank witnessed an addition of 5,079 units of Open Interest in the October month futures contract, Tech Mahindra witnessed a contraction of 1,017 units of Open Interest in the October month futures contract, Kotak Mahindra Bank witnessed an addition of 2,338 units of Open Interest in the October month futures contract, Tata Motors witnessed a contraction of 247 units of Open Interest in the October month futures contract and Reliance Industries witnessed a contraction of 1,888 units of Open Interest in the October month futures contract (Provisional).
