Nifty continued its winning run on third day and ended the session above its crucial 17750 mark. The gains in trade were led mainly by financial services, bank and consumer durables. Market made positive start, as domestic sentiments got a boost as Chief Economic Adviser V Anantha Nageswaran expressed hope that India would become a $5 trillion economy by FY26 or the next year on the back of 8-9 per cent sustained growth. He added gross domestic product (GDP) in dollar terms has already crossed $3 trillion. Further, market continued its gaining momentum, as provisional data of the commerce ministry showed that the country's exports rose by 23.69 per cent to $34.06 billion in January on healthy performance by engineering, petroleum and gems and jewellery segments even as trade deficit widened to $17.94 billion during the month.
Index maintained its healthy gains till the end after welcoming the Budget's focus on the agriculture sector, Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar has said that it is the budget for the villages, poor people, farmers, women and youth. The minister said the budget of the Ministry of Agriculture and Farmers Welfare has been increased continuously in both the tenures of the Government, this time also it has been increased to Rs.1.32 lakh crore from Rs.1.23 lakh crore last year. Finally, Nifty ended the session with the gains of above a percent.
All the sectoral indices ended in green. The top gainers from the F&O segment were Dr. Lal PathLabs, Can Fin Homes and Vodafone Idea. On the other hand, the top losers were MFSL, BPCL and Hindustan Petroleum Corporation. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 16300 -16700 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 6.64% and reached 18.65. The 50 share Nifty up by 203.15 points or 1.16% to settle at 17,780.00.
Nifty February 2022 futures closed at 17808.90 (LTP) on Wednesday, at a premium of 28.90 points over spot closing of 17780.00, while Nifty March 2022 futures ended at 17874.00 (LTP), at a premium of 94.00 points over spot closing. Nifty February futures saw a contraction of 857 units, taking the total open interest (Contracts) to 1,93,645 units. The near month derivatives contract will expire on February 24, 2022 (Provisional).
From the most active contracts, Reliance Industries February 2022 futures traded at a premium of 10.10 points at 2395.10 (LTP) compared with spot closing of 2385.00. The numbers of contracts traded were 25,937 (Provisional).
Tata Steel February 2022 futures traded at a premium of 4.60 points at 1172.60 (LTP) compared with spot closing of 1168.00. The numbers of contracts traded were 25,423 (Provisional).
Tech Mahindra February 2022 futures traded at a premium of 2.00 points at 1487.05 (LTP) compared with spot closing of 1485.05. The numbers of contracts traded were 23,793 (Provisional).
Jubilant FoodWorks February 2022 futures traded at a premium of 4.05 points at 3304.05 (LTP) compared with spot closing of 3300.00. The numbers of contracts traded were 22,806 (Provisional).
SBIN February 2022 futures traded at a premium of 2.40 points at 542.05 (LTP) compared with spot closing of 539.65. The numbers of contracts traded were 22,115 (Provisional).
Among, Nifty calls, 18000 SP from the February month expiry was the most active call with a contraction of 5,500 units open interests. Among Nifty puts, 17500 SP from the February month expiry was the most active put with an addition of 554 units open interests. The maximum OI outstanding for Calls was at 18000 SP (38,008 units) and that for Puts was at 16500 SP (81,568 units). The respective Support and Resistance levels of Nifty are: Resistance 17,824.80 -- Pivot Point 17,749.80 -- Support -- 17,705.00.
The Nifty Put Call Ratio (PCR) finally stood at (1.57) for February month contract. The top five scrips with highest PCR on Vedanta (0.97), Piramal Enterprises (0.93), JK Cement (0.89), Dalmia Bharat (0.87) and AU Small Finance Bank (0.86).
Among most active underlying, Tech Mahindra witnessed an addition of 3,795 units of Open Interest in the February month futures contract, ICICI Bank witnessed a contraction of 2,107 units of Open Interest in the February month futures contract, SBIN witnessed an addition of 3,795 units of Open Interest in the February month futures contract, ITC witnessed an addition of 3,795 units of Open Interest in the February month futures contract and Indusind Bank witnessed an addition of 2,741 units of Open Interest in the February month futures contract (provisional).
