S&P CNX -- Nifty snapped four day winning streak and ended the session below its 17750 mark on Thursday. Market made negative start as traders were worried with increasing cases of the Omicron variant of COVID-19 persisted among investors globally. Further, market extended its losses after ICRA Ratings warned that the third wave of the pandemic, which has seen a massive spike in infections after the more infectious Omicron variant of the coronavirus appeared, is likely to shave 40 bps of the fourth quarter GDP growth that may print in at 4.5-5 per cent. Index continued weak run till the end with report stating that the cost of debt-funds for the states has touched the highest level so far this fiscal with the weighted average cut-off crossing the 7.16 percentage points at the latest auctions, up 11 bps over the past week, reflecting the hardening yields even for the government securities. Finally, Nifty finished the session with the cut of a percent.
Most of the sectoral indices ended in red except Auto, PSU Bank and Media. The top gainers from the F&O segment were NBCC, Delta Corp and Gujarat Gas. On the other hand, the top losers were JSW Steel, City Union Bank 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 4.35% and reached 17.98. The 50 share Nifty down by 179.35 points or 1.00% to settle at 17,745.90.
Nifty January 2022 futures closed at 17799.75 (LTP) on Thursday, at a premium of 53.85 points over spot closing of 17745.90, while Nifty February 2022 futures ended at 17840.55 (LTP), at a premium of 94.65 points over spot closing. Nifty January futures saw an addition of 17,333 units, taking the total outstanding open interest (Contracts) to 2,22,822 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 11.40 points at 2430.55 (LTP) compared with spot closing of 2419.15. The numbers of contracts traded were 35,248 (Provisional).
Infosys January 2022 futures traded at a premium of 4.50 points at 1825.00 (LTP) compared with spot closing of 1820.50. The numbers of contracts traded were 30,268 (Provisional).
Bharti Airtel January 2022 futures traded at a premium of 1.30 points at 712.05 (LTP) compared with spot closing of 710.75. The numbers of contracts traded were 26,844 (Provisional).
Tata Steel January 2022 futures traded at a premium of 4.50 points at 1166.00 (LTP) compared with spot closing of 1161.50. The numbers of contracts traded were 19,712 (Provisional).
TCS January 2022 futures traded at a premium of 3.85 points at 3813.80 (LTP) compared with spot closing of 3809.95. The numbers of contracts traded were 19,158 (Provisional).
Among, Nifty calls, 18000 SP from the January month expiry was the most active call with an addition of 2,608 units open interests. Among Nifty puts, 17700 SP from the January month expiry was the most active put with an addition of 16,667 units open interests. The maximum OI outstanding for Calls was at 18000 SP (42,358 units) and that for Puts was at 17000 SP (71,317 units). The respective Support and Resistance levels of Nifty are: Resistance 17,810.72 -- Pivot Point 17,733.13 -- Support -- 17,668.32.
The Nifty Put Call Ratio (PCR) finally stood at (1.67) for January month contract. The top five scrips with highest PCR on PVR (1.32), Motherson Sumi Systems (1.03), IOC (1.01), Indigo (0.90) and Delta Corp (0.88).
Among most active underlying, Reliance Industries witnessed an addition of 2,137 units of Open Interest in the January month futures contract, ICICI Bank witnessed a contraction of 3,567 units of Open Interest in the January month futures contract, Bharti Airtel witnessed a contraction of 1,512 units of Open Interest in the January month futures contract, Infosys witnessed an addition of 14,286 units of Open Interest in the January month futures contract and HDFC Bank witnessed an addition of 457 units of Open Interest in the January month futures contract (Provisional).
