Indian equity benchmark -- Nifty -- witnessed a worst day on Thursday, ending with the losses of around 2%. The index opened on a negative note & witnessed sustained selling throughout the day, as traders got worried, after Stock brokers' association Anmi has flagged off concerns on the action being initiated by market regulator Sebi against a few broker entities for trading on paired contracts on the National Spot Exchange Ltd (NSEL) platform and classifying them as ''not fit and proper person''.
Market added more losses in the second half of the trading session to end in deep red, as some cautiousness crept in with report that cooking gas LPG prices may be hiked next week after under-recovery on the fuel widened to over Rs 100 per cylinder. Adding more pessimism, a report from the Euro-Mediterranean Center on Climate Change (CMCC) said that in India, the decline in rice and wheat yields due to climate change could lead to economic losses between 43-81 billion EUR (or 1.8-3.4% of GDP) by 2050.
All the sectoral indices ended in red. The top gainers from the F&O segment were TVS Motors, Indusind Bank and Metropolis Lab. On the other hand, the top losers were PNB, Adani Enterprises and IRCTC. In the index option segment, maximum OI continues to be seen in the 18050 -18600 calls and 17200 -17650 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 6.44% and reached 17.91. The 50 share Nifty down by 353.70 points or 1.94% to settle at 17,857.25.
Nifty November 2021 futures closed at 17901.70 (LTP) on Thursday, at a premium of 44.45 points over spot closing of 17857.25, while Nifty December 2021 futures ended at 17977.90 (LTP), at a premium of 120.65 points over spot closing. Nifty November futures saw an addition of 65,220 units, taking the total outstanding open interest (Contracts) to 2,20,583 units. The near month derivatives contract will expire on November 25, 2021 (Provisional).
From the most active contracts, Reliance Industries November 2021 futures traded at a premium of 12.95 points at 2610.95 (LTP) compared with spot closing of 2598.00. The numbers of contracts traded were 39,894 (Provisional).
Axis Bank November 2021 futures traded at a premium of 0.85 points at 759.85 (LTP) compared with spot closing of 759.00. The numbers of contracts traded were 37,590 (Provisional).
Bajaj Finance November 2021 futures traded at a premium of 17.90 points at 7478.75 (LTP) compared with spot closing of 7460.85. The numbers of contracts traded were 35,334 (Provisional).
SBIN November 2021 futures traded at a premium of 1.90 points at 505.60 (LTP) compared with spot closing of 503.70. The numbers of contracts traded were 32,891 (Provisional).
HDFC Bank November 2021 futures traded at a premium of 5.40 points at 1597.80 (LTP) compared with spot closing of 1592.40. The numbers of contracts traded were 28,663 (Provisional).
Among, Nifty calls, 18000 SP from the November month expiry was the most active call with a addition of 12,703 units open interests. Among Nifty puts, 17500 SP from the November month expiry was the most active put with an addition of 3,854 units open interests. The maximum OI outstanding for Calls was at 18500 SP (31,567 units) and that for Puts was at 17500 SP (36,680 units). The respective Support and Resistance levels of Nifty are: Resistance 18,098.82 -- Pivot Point 17,949.13 -- Support -- 17,707.57.
The Nifty Put Call Ratio (PCR) finally stood at (1.21) for November month contract. The top five scrips with highest PCR on Balkrishna Industries (4.23), Dalmia Bharat (1.73), P I Industries (1.35), Abbott India (1.30) and Coromandel International (1.13).
Among most active underlying, Reliance Industries witnessed an addition of 23,676 units of Open Interest in the November month futures contract, ICICI bank witnessed an addition of 8,836 units of Open Interest in the November month futures contract, Adani Enterprises witnessed an addition of 8,217 units of Open Interest in the November month futures contract, SBIN witnessed an addition of 14,794 units of Open Interest in the November month futures contract and ITC witnessed an addition of 14,223 units of Open Interest in the November month futures contract (Provisional).
