Continuing its upward journey for third day, S&P CNX -- Nifty ended the session above 18050 mark. After making cautious start, market turned volatile for little time, as data from the Reserve Bank of India (RBI) showed outward foreign direct investment by Indian companies fell by over 8 per cent to $2.05 billion in December 2021 in the current fiscal. However, market gained traction, as Commerce and Industry Minister Piyush Goyal called upon stakeholders in the innovation ecosystem to strive to take India to the top 25 in the Global Innovation Index from the 46th position recorded in 2021. Index maintained its gains till the end after Tata group’s Chairman N Chandrasekaran said that coronavirus pandemic has not impacted India’s long-term growth trajectory although it has delayed it and in this decade, the country will lead the global growth rates.
Traders were seen piling positions in Bankex, Realty and IT sector while selling was witnessed in Metal, FMCG and Media sector stocks. The top gainers from the F&O segment were Adani Enterprises, AU Small Finance Bank and Motherson Sumi Systems. On the other hand, the top losers were Jindal Steel & Power, LTTS and Ipca Laboratories. In the index option segment, maximum OI continues to be seen in the 18300 -18600 calls and 17400 -17700 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 0.45% and reached 17.76. The 50 share Nifty up by 52.45 points or 0.29% to settle at 18,055.75.
Nifty January 2022 futures closed at 18085.05 (LTP) on Tuesday, at a premium of 29.30 points over spot closing of 18055.75, while Nifty February 2022 futures ended at 18134.00 (LTP), at a premium of 78.25 points over spot closing. Nifty January futures saw an addition of 3,154 units, taking the total open interest (Contracts) to 2,08,643 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 3.20 points at 2459.00 (LTP) compared with spot closing of 2455.80. The numbers of contracts traded were 36,014 (Provisional).
Tata Steel January 2022 futures traded at a premium of 1.55 points at 1136.45 (LTP) compared with spot closing of 1134.90. The numbers of contracts traded were 31,382 (Provisional).
Adani Enterprises January 2022 futures traded at a premium of 6.00 points at 1856.00 (LTP) compared with spot closing of 1850.00. The numbers of contracts traded were 25,888 (Provisional).
Infosys January 2022 futures traded at a premium of 8.30 points at 1868.30 (LTP) compared with spot closing of 1860.00. The numbers of contracts traded were 24,800 (Provisional).
TCS January 2022 futures traded at a premium of 0.45 points at 3917.45 (LTP) compared with spot closing of 3917.00. The numbers of contracts traded were 19,235 (Provisional).
Among, Nifty calls, 18200 SP from the January month expiry was the most active call with an addition of 7,841 units open interests. Among Nifty puts, 18000 SP from the January month expiry was the most active put with an addition of 23,204 units open interests. The maximum OI outstanding for Calls was at 18500 SP (29,110 units) and that for Puts was at 17500 SP (57,864 units). The respective Support and Resistance levels of Nifty are: Resistance 18,103.20 -- Pivot Point 18,033.80 -- Support -- 17,986.35.
The Nifty Put Call Ratio (PCR) finally stood at (1.60) for January month contract. The top five scrips with highest PCR on PVR (1.49), Motherson Sumi Systems (1.02), GMR Infrastructure (0.99), Indian Hotels Company (0.97) and AU Small Finance Bank (0.96).
Among most active underlying, Adani Enterprises witnessed an addition of 1,436 units of Open Interest in the January month futures contract, Reliance Industries witnessed an addition of 4,141 units of Open Interest in the January month futures contract, Tata Steel witnessed a contraction of 1,488 units of Open Interest in the January month futures contract, HCL Tech witnessed an addition of 4,428 units of Open Interest in the January month futures contract and Vodafone Idea witnessed an addition of 847 units of Open Interest in the January month futures contract (Provisional).
