S&P CNX -- Nifty finished the Wednesday’s session near intraday high point led by gains in realty, auto, metal and pharma stocks. On the stock-specific front, Hindalco stood as the top Nifty gainer as the stock soared 3.95 per cent to Rs 463.05. Shares of Tata Motors, Divi's Lab, Eicher Motors and Bajaj Finance also witnessed gains. Market made a positive start, as the Finance Ministry in a report said that the government has initiated various measures to provide relief and financial support to various sectors of the Covid-19 hit economy, at the same time, fiscal consolidation is also under focus. Further, market continued its fine fettle trade after the government said in Parliament that profitability of public sector banks has improved on a consolidated basis after amalgamation. Traders took note of report that newly elected Federation of Indian Chambers of Commerce and Industry (FICCI) President Sanjiv Mehta has said that India needs to focus on ease of doing business, consistent tax policy and lower cost of capital. He also underlined the need for constant efforts to boost private investment for high economic growth over a long period of time. Market extended its gains to touch intraday high point in last leg of trade. Finally, nifty ended the session with the gains of above a percent.
All the sectoral indices ended in green. The top gainers from the F&O segment were GMR Infrastructure, Birlasoft and SRF. On the other hand, the top losers were DIXON, ICICI Lombard General Insurance Co and Power Grid Corporation of India. In the index option segment, maximum OI continues to be seen in the 17900 -18150 calls and 16900 -17250 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 5.45% and reached 16.58. The 50 share Nifty up by 184.60 points or 1.10% to settle at 16,955.45.
Nifty December 2021 futures closed at 16976.25 (LTP) on Wednesday, at a premium of 20.80 points over spot closing of 16955.45, while Nifty January 2022 futures ended at 17032.55 (LTP), at a premium of 77.10 points over spot closing. Nifty December futures saw an addition of 1,319 units, taking the total outstanding open interest (OI) to 1,96,616 units. The near month derivatives contract will expire on December 30, 2021 (Provisional).
From the most active contracts, Adani Ports December 2021 futures traded at a premium of 1.35 points at 724.85 (LTP) compared with spot closing of 723.50. The numbers of contracts traded were 36,571 (Provisional).
Reliance Industries December 2021 futures traded at a premium of 1.00 points at 2366.00 (LTP) compared with spot closing of 2365.00. The numbers of contracts traded were 32,225 (Provisional).
ICICI Bank December 2021 futures traded at a premium of 0.80 points at 734.50 (LTP) compared with spot closing of 733.70. The numbers of contracts traded were 17,575 (Provisional).
Infosys December 2021 futures traded at a premium of 6.40 points at 1830.40 (LTP) compared with spot closing of 1824.00. The numbers of contracts traded were 16,197 (Provisional).
Tata Steel December 2021 futures traded at a premium of 0.00 points at 1130.00 (LTP) compared with spot closing of 1130.00. The numbers of contracts traded were 15,908 (Provisional).
Among, Nifty calls, 17000 SP from the December month expiry was the most active call with an addition of 3,950 units open interests. Among Nifty puts, 16800 SP from the December month expiry was the most active put with an addition of 9,235 units open interests. The maximum OI outstanding for Calls was at 18000 SP (65,106 units) and that for Puts was at 16500 SP (81,568 units). The respective Support and Resistance levels of Nifty are: Resistance 17,011.13 -- Pivot Point 16,915.32 -- Support -- 16,859.63.
The Nifty Put Call Ratio (PCR) finally stood at (1.12) for December month contract. The top five scrips with highest PCR on Escorts (1.17), Asian Paints (1.02), Wipro (0.87), Infosys (0.81) and Pidilite Industries (0.80).
Among most active underlying, Adani Ports witnessed an addition of 12,099 units of Open Interest in the December month futures contract, Reliance Industries witnessed an addition of 1,080 units of Open Interest in the December month futures contract, ICICI Bank witnessed an addition of 3,349 units of Open Interest in the December month futures contract, Tata Motors witnessed an addition of 340 units of Open Interest in the December month futures contract and Bharti Airtel witnessed an addition of 839 units of Open Interest in the December month futures contract (Provisional).
