After spending most of the time in green territory, Nifty ended the Thursday’s session in red zone as investors remained cautious amid surging Omicron cases. Market made slightly negative start and soon entered positive territory, as the Federation of Indian Export Organisations (FIEO) said the country's exports are expected to register healthy growth rate in the financial year 2022-23 and might touch $530 billion as exporters are flushed with orders. It added that additional exports will come from some of the PLI (production-linked incentive) sectors in the next fiscal. Further, market maintained its gains above neutral line with private report stated that employment opportunities in the e-commerce and allied industries witnessed a 28 per cent surge in 2021, and recruitment activities in this segment will gain further momentum driven by economic recovery and aggressive vaccination drive.
However, in last leg of trade, market slipped into negative territory, as the Reserve Bank expressed doubts about the government’s ability to contain fiscal deficit at the budgeted 6.8 per cent this fiscal year after it moved the second supplementary demand of grants worth Rs 3.73 lakh crore which came in spite of a massive 83 per cent jump in net tax revenue so far this year to Rs 10.53 lakh crore.
Most of the sectoral indices ended in red except Bank, FMCG and IT. The top gainers from the F&O segment were Persistent Systems, Coforge and Alkem Laboratories. On the other hand, the top losers were GAIL, Delta Corp and RBL Bank. In the index option segment, maximum OI continues to be seen in the 17350 -17600 calls and 16900 -17050 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 1.98% and reached 16.57. The 50 share Nifty down by 9.65 points or 0.05% to settle at 17,203.95.
Nifty January 2022 futures closed at 17285.00 (LTP) on Thursday, at a premium of 81.05 points over spot closing of 17203.95, while Nifty February 2022 futures ended at 17331.25 (LTP), at a premium of 127.30 points over spot closing. Nifty January futures saw an addition of 56,567 units, taking the total open interest (Contracts) to 1,91,525 units. The near month derivatives contract will expire on January 27, 2022 (Provisional).
From the most active contracts, Reliance Industries January 2022 futures traded at a premium of 7.05 points at 2371.05 (LTP) compared with spot closing of 2364.00. The numbers of contracts traded were 67,943 (Provisional).
Tata Steel January 2022 futures traded at a premium of 3.25 points at 1104.40 (LTP) compared with spot closing of 1101.15. The numbers of contracts traded were 39,820 (Provisional).
SBIN January 2022 futures traded at a premium of 2.55 points at 455.60 (LTP) compared with spot closing of 453.05. The numbers of contracts traded were 35,946 (Provisional).
Infosys January 2022 futures traded at a premium of 9.20 points at 1906.20 (LTP) compared with spot closing of 1897.00. The numbers of contracts traded were 35,692 (Provisional).
TCS January 2022 futures traded at a premium of 3.00 points at 3740.00 (LTP) compared with spot closing of 3737.00. The numbers of contracts traded were 29,737 (Provisional).
Among, Nifty calls, 18000 SP from the January month expiry was the most active call with an addition of 5,986 units open interests. Among Nifty puts, 17200 SP from the January month expiry was the most active put with an addition of 10,893 units open interests. The maximum OI outstanding for Calls was at 17500 SP (35,286 units) and that for Puts was at 17000 SP (58,887 units). The respective Support and Resistance levels of Nifty are: Resistance 17,263.22 -- Pivot Point 17,204.78 -- Support -- 17,145.52.
The Nifty Put Call Ratio (PCR) finally stood at (1.66) for January month contract. The top five scrips with highest PCR on Dalmia Bharat (1.56), PVR (1.40), Gujarat State Petronet (1.18), IOC (1.16) and Indus Towers (1.10).
Among most active underlying, Reliance Industries witnessed an addition of 27,632 units of Open Interest in the January month futures contract, SBIN witnessed an addition of 17,132 units of Open Interest in the January month futures contract, ICICI Bank witnessed an addition of 9,982 units of Open Interest in the January month futures contract, Infosys witnessed an addition of 21,577 units of Open Interest in the January month futures contract and Tata Steel witnessed an addition of 22,008 units of Open Interest in the January month futures contract (Provisional).
