Indian equity markets continued its upward journey for fourth straight session. Mid- and small-cap shares finished on a mixed note as Nifty Midcap 100 index rose 0.15 per cent and Nifty Smallcap 100 index fell 0.25 per cent. 10 out of 15 sector gauges -- compiled by the National Stock Exchange -- settled in green. Market made cautious start, as a private report indicated that growth might be impacted by up to 0.30 per cent in the March quarter as normal economic activities come under pressure due to restrictions being imposed by more states to curb rising Omicron cases. However, in late morning trade, market gained momentum, as traders found support with Apparel Export Promotion Council (AEPC) Chairman A Sakthivel statement that strong demand and healthy order books will further help in boosting the country's exports in the coming months. Further, market extended its gains to trade higher, as State Bank of India’s former chairman Rajnish Kumar stated that country needs to accelerate economic growth to above eight per cent to achieve its target of becoming a $5-trillion economy by 2025. Finally, Nifty ended the session above 17900 mark.
Most of the sectoral indices ended in green except IT, Pharma and Media. The top gainers from the F&O segment were AU Small Finance Bank, Tata Communications and Chambal Fertilisers & Chemicals. On the other hand, the top losers were Interglobe Aviation, Larsen & Toubro Infotech and Persistent Systems. In the index option segment, maximum OI continues to be seen in the 17850 -18200 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 6.87% and reached 17.23. The 50 share Nifty up by 120.00 points or 0.67% to settle at 17,925.25.
Nifty January 2022 futures closed at 17946.20 (LTP) on Wednesday, at a premium of 20.95 points over spot closing of 17925.25, while Nifty February 2022 futures ended at 17996.20 (LTP), at a premium of 70.95 points over spot closing. Nifty January futures saw an addition of 11,847 units, taking the total open interest (contracts) to 2,17,336 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 5.30 points at 2467.15 (LTP) compared with spot closing of 2461.85. The numbers of contracts traded were 32,162 (Provisional).
Infosys January 2022 futures traded at a premium of 4.45 points at 1852.45 (LTP) compared with spot closing of 1848.00. The numbers of contracts traded were 29,257 (Provisional).
Bajaj Finance January 2022 futures traded at a premium of 20.00 points at 7685.00 (LTP) compared with spot closing of 7665.00. The numbers of contracts traded were 27,622 (Provisional).
ICICI Bank January 2022 futures traded at a premium of 2.40 points at 789.40 (LTP) compared with spot closing of 787.00. The numbers of contracts traded were 25,608 (Provisional).
HDFC Bank January 2022 futures traded at a premium of 1.80 points at 1563.90 (LTP) compared with spot closing of 1562.10. The numbers of contracts traded were 24,197 (Provisional).
Among, Nifty calls, 18000 SP from the January month expiry was the most active call with an addition of 264 units open interests. Among Nifty puts, 17800 SP from the January month expiry was the most active put with an addition of 12,760 units open interests. The maximum OI outstanding for Calls was at 18000 SP (40,014 units) and that for Puts was at 17000 SP (73,633 units). The respective Support and Resistance levels of Nifty are: Resistance 17,997.02 -- Pivot Point 17,872.93 -- Support -- 17,801.17.
The Nifty Put Call Ratio (PCR) finally stood at (1.69) for January month contract. The top five scrips with highest PCR on PVR (1.28), IOC (1.11), Indigo (0.95), Dalmia Bharat (0.91) and HDFC Bank (0.88).
Among most active underlying, ICICI Bank witnessed a contraction of 384 units of Open Interest in the January month futures contract, Bajaj Finance witnessed an addition of 3,341 units of Open Interest in the January month futures contract, HDFC Bank witnessed an addition of 1,121 units of Open Interest in the January month futures contract, Reliance Industries witnessed a contraction of 2,762 units of Open Interest in the January month futures contract and Infosys witnessed an addition of 6,704 units of Open Interest in the January month futures contract (Provisional).
