After falling in previous four sessions, domestic index -- Nifty bounce back in green territory on Tuesday and ended the day’s trade above 17500 mark. Market made negative start after foreign institutional investors (FIIs) net sold shares worth Rs 3,438.76 crore in the Indian equity market on November 22, as per provisional data available on the NSE. Further, in afternoon trade, market wiped out its losses to trade above water, as SBI research report stated that the country's GDP growth is likely to be around 8.1 per cent in the second quarter of the current financial year and in the range of 9.3-9.6 per cent during fiscal 2022. It added that in the first quarter of FY 22, the economy grew 20.1 per cent. Index added more points as country's exports rose 18.8 per cent to $20.01 billion during the three week period of this month (November 1-21), due to healthy growth in sectors such as petroleum products, engineering goods, chemicals and gems and jewellery.
All the sectoral indices ended in green. The top gainers from the F&O segment were Glenmark Pharmaceuticals, Birlasoft and Navin Fluorine International. On the other hand, the top losers were Indusind Bank, Asian Paints and Syngene International. In the index option segment, maximum OI continues to be seen in the 17950 -18300 calls and 16800 -17150 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 2.82% and reached 18.02. The 50 share Nifty up by 86.80 points or 0.50% to settle at 17,503.35.
Nifty November 2021 futures closed at 17489.60 (LTP) on Tuesday, at a discount of 13.75 points over spot closing of 17503.35, while Nifty December 2021 futures ended at 17536.40 (LTP), at a premium of 33.05 points over spot closing. Nifty November futures saw an addition of 2,316 units, taking the total open interest (Contracts) to 1,82,723 units. The near month derivatives contract will expire on November 25, 2021(Provisional).
From the most active contracts, Vedanta November 2021 futures traded at a discount of 2.85 points at 346.10 (LTP) compared with spot closing of 348.95. The numbers of contracts traded were 75,694 (Provisional).
Reliance Industries November 2021 futures traded at a discount of 4.85 points at 2385.10 (LTP) compared with spot closing of 2389.95. The numbers of contracts traded were 61,084 (Provisional).
Infosys November 2021 futures traded at a premium of 1.95 points at 1729.45 (LTP) compared with spot closing of 1727.50. The numbers of contracts traded were 51,398 (Provisional).
Tata Steel November 2021 futures traded at a premium of 1.55 points at 1191.60 (LTP) compared with spot closing of 1190.05. The numbers of contracts traded were 41,944 (Provisional).
SAIL November 2021 futures traded at a premium of 0.10 points at 111.35 (LTP) compared with spot closing of 111.25. The numbers of contracts traded were 30,331 (Provisional).
Among, Nifty calls, 17600 SP from the October month expiry was the most active call with a contraction of 5,098 units open interests. Among Nifty puts, 17300 SP from the October month expiry was the most active put with an addition of 29,761 units open interests. The maximum OI outstanding for Calls was at 18000 SP (1,61,589 units) and that for Puts was at 17000 SP (1,01,923 units). The respective Support and Resistance levels of Nifty are: Resistance 17,632.67 -- Pivot Point 17,424.38 -- Support -- 17,295.07.
The Nifty Put Call Ratio (PCR) finally stood at (0.50) for October month contract. The top five scrips with highest PCR on Dalmia Bharat (1.21), JSW Steel (0.89), Adani Enterprises (0.86), Escorts (0.85) and Power Grid Corporation (0.81).
Among most active underlying, Vedanta witnessed a contraction of 6,011 units of Open Interest in the October month futures contract, Reliance Industries witnessed a contraction of 845 units of Open Interest in the October month futures contract, Bharti Airtel witnessed an addition of 3 units of Open Interest in the October month futures contract, ICICI Bank witnessed an addition of 1,853 units of Open Interest in the October month futures contract and Infosys witnessed a contraction of 869 units of Open Interest in the October month futures contract (Provisional).
