NSE gauge -- Nifty50 -- resumed northward journey on Friday and ended the session above 17800 mark. After making positive start, market extended its gains, as the finance ministry released monthly revenue deficit grant to 17 states totalling Rs 9,871 crore. So far, an amount of Rs 98,710 crore has been released to 17 states as post devolution revenue deficit grant in the current financial year. However, in late afternoon trade market turned volatile for little time amid massive surge in COVID infections across the country, especially in the metro, a domestic rating agency -- India Ratings and Research in its latest report has said that the Omicron variant spread will impact the January-March quarter (Q4) Gross Domestic Product (GDP) by 0.40 per cent and shave off 0.10 per cent from the FY22 growth, as many states resort to restrictions to limit infections. Further, index gained traction to end the session in green territory after a senior government official said that the Omicron wave of coronavirus is unlikely to have much impact on India's economic growth, not more than of 5-10 basis points.
Most of the sectoral indices ended in green except Auto, Pharma and Media. The top gainers from the F&O segment were India Cements, National Aluminium Company and Jubilant FoodWorks. On the other hand, the top losers were COFORGE, Piramal Enterprises and GMR Infrastructure. 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 decreased by 2.08% and reached 17.60. The 50 share Nifty up by 66.80 points or 0.38% to settle at 17,812.70.
Nifty January 2022 futures closed at 17855.15 (LTP) on Friday, at a premium of 42.45 points over spot closing of 17812.70, while Nifty February 2022 futures ended at 17907.80 (LTP), at a premium of 95.10 points over spot closing. Nifty January futures saw an addition of 4,689 units, taking the total outstanding open interest (OI) to 2,10,178 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 5.80 points at 2445.70 (LTP) compared with spot closing of 2439.90. The numbers of contracts traded were 28,466 (Provisional).
Infosys January 2022 futures traded at a premium of 7.40 points at 1823.40 (LTP) compared with spot closing of 1816.00. The numbers of contracts traded were 26,640 (Provisional).
TCS January 2022 futures traded at a premium of 2.15 points at 3861.05 (LTP) compared with spot closing of 3858.90. The numbers of contracts traded were 26,258 (Provisional).
Titan Company January 2022 futures traded at a premium of 7.00 points at 2578.00 (LTP) compared with spot closing of 2571.00. The numbers of contracts traded were 20,943 (Provisional).
SBIN January 2022 futures traded at a premium of 1.75 points at 493.00 (LTP) compared with spot closing of 491.25. The numbers of contracts traded were 20,052 (Provisional).
Among, Nifty calls, 18000 SP from the January month expiry was the most active call with a contraction of 303 units open interests. Among Nifty puts, 17800 SP from the January month expiry was the most active put with an addition of 18,189 units open interests. The maximum OI outstanding for Calls was at 18000 SP (39,447 units) and that for Puts was at 17000 SP (73,113 units). The respective Support and Resistance levels of Nifty are: Resistance 17,910.28 -- Pivot Point 17,807.42 -- Support -- 17,709.83.
The Nifty Put Call Ratio (PCR) finally stood at (1.59) for January month contract. The top five scrips with highest PCR on PVR (1.34), Motherson Sumi Systems (0.98), IOC (0.98), Asian Paints (0.96) and Indigo (0.95).
Among most active underlying, ICICI Bank witnessed a contraction of 4,320 units of Open Interest in the January month futures contract, Titan Company witnessed an addition of 3,914 units of Open Interest in the January month futures contract, Reliance Industries witnessed an addition of 5 units of Open Interest in the January month futures contract, TCS witnessed an addition of 2,064 units of Open Interest in the January month futures contract and Tata Power witnessed an addition of 3,348 units of Open Interest in the January month futures contract (Provisional).
