S&P CNX – Nifty ended the Monday’s trading session in green territory. Market made cautious start, as former World Bank Chief Economist Kaushik Basu said that India’s overall macroeconomic situation is in a recovery mode but the growth is concentrated at the top end, which is a worrying trend. Further, index added gains, as RBI data showed bank credit grew 9.16 per cent to Rs 116.83 lakh crore and deposits rose 10.28 per cent to Rs 162.41 lakh crore for the fortnight ended December 31, 2021.
Market continued its trade above neutral line till the end, as foreign portfolio investors (FPIs) reversed the three-month selling streak in January by investing net Rs 3,117 crore in Indian markets, so far this month. Depositories data showed that they pumped Rs 1,857 crore into equities and Rs 1,743 crore into hybrid instruments during January 1-14. Finally, Nifty finished the session above 18300 mark.
Most of the sectoral indices ended in green except IT, Bank and Pharma. The top gainers from the F&O segment were Apollo Tyres, Hero Motocorp and Exide Industries. On the other hand, the top losers were Granules India, HCL Tech and Dr. Lal PathLabs. In the index option segment, maximum OI continues to be seen in the 18300 -18600 calls and 17900 -18200 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 1.26% and reached 16.77. The 50 share Nifty up by 52.35 points or 0.29% to settle at 18,308.10.
Nifty January 2022 futures closed at 18339.90 (LTP) on Monday, at a premium of 31.80 points over spot closing of 18308.10, while Nifty February 2022 futures ended at 18386.30 (LTP), at a premium of 78.20 points over spot closing. Nifty January futures saw an addition of 3,637 units, taking the total open interest (contracts) to 2,05,335 units. The near month derivatives contract will expire on January 27, 2022 (Provisional).
From the most active contracts, Tata Steel January 2022 futures traded at a premium of 0.70 points at 1231.50 (LTP) compared with spot closing of 1230.80. The numbers of contracts traded were 36,488 (Provisional).
UltraTech Cement January 2022 futures traded at a premium of 32.20 points at 7902.20 (LTP) compared with spot closing of 7870.00. The numbers of contracts traded were 32,110 (Provisional).
TCS January 2022 futures traded at a discount of 5.00 points at 4020.00 (LTP) compared with spot closing of 4025.00. The numbers of contracts traded were 31,846 (Provisional).
HDFC Bank January 2022 futures traded at a premium of 5.50 points at 1529.00 (LTP) compared with spot closing of 1523.50. The numbers of contracts traded were 28,018 (Provisional).
HCL Tech January 2022 futures traded at a discount of 9.75 points at 1250.80 (LTP) compared with spot closing of 1260.55. The numbers of contracts traded were 27,645 (Provisional).
Among, Nifty calls, 18500 SP from the January month expiry was the most active call with an addition of 1,140 units open interests. Among Nifty puts, 18200 SP from the January month expiry was the most active put with a contraction of 8,933 units open interests. The maximum OI outstanding for Calls was at 18500 SP (40,101 units) and that for Puts was at 18000 SP (56,765 units). The respective Support and Resistance levels of Nifty are: Resistance 18,343.52 -- Pivot Point 18,286.13 -- Support -- 18,250.72.
The Nifty Put Call Ratio (PCR) finally stood at (1.53) for January month contract. The top five scrips with highest PCR on PVR (1.32), Indigo (1.20), Indian Hotels Company (1.01), AU Small Finance Bank (0.94) and Escorts (0.88).
Among most active underlying, Tata Motors witnessed an addition of 8 units of Open Interest in the January month futures contract, UltraTech Cement witnessed an addition of 2,245 units of Open Interest in the January month futures contract, HCL Tech witnessed an addition of 5,713 units of Open Interest in the January month futures contract, HDFC Bank witnessed an addition of 4,447 units of Open Interest in the January month futures contract and TCS witnessed an addition of 1,070 units of Open Interest in the January month futures contract (Provisional).
