Nifty witnessed considerable losses on Thursday and ended the session below its crucial 17600 mark dragged by losses in information technology, Oil &Gas and realty stocks. Market made negative start, as domestic rating agency CRISIL estimated FY23 real GDP growth at 7.8 per cent as compared with the 8.5 per cent projected in the Economic Survey. Further, market extended its downward trend, as India’s service sector activity fell in the month of January, as growth was curbed by the escalation of the pandemic. Moreover, job shedding continued and business confidence took a hit. As per the survey report, the seasonally adjusted Nikkei Services Business Activity Index eased to 51.5 in January from 55.5 in December. Further, the Nikkei India Composite PMI Output Index -- which measures both manufacturing and services -- also fell to 53.0 in January from 56.4 in December. Index continued its free fall till the end. Traders failed to took support with data by Centre for Monitoring Indian Economy (CMIE) showing that India's unemployment rate witnessed a sharp decline to 6.57 per cent in January, the lowest since March 2021, as the country gradually recovers with easing of restrictions following a decline in Omicron cases. Finally, nifty ended the session with cut of above a percent.
Most of the sectoral indices ended in red except Auto and Consumer Durables. The top gainers from the F&O segment were Balrampur Chini Mills, TVS Motors and Coromandel International. 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 increased by 2.73% and reached 19.16. The 50 share Nifty down by 219.80 points or 1.24% to settle at 17,560.20.
Nifty February 2022 futures closed at 17507.00 (LTP) on Thursday, at a discount of 53.20 points over spot closing of 17560.20, while Nifty March 2022 futures ended at 17568.05 (LTP), at a premium of 7.85 points over spot closing. Nifty February futures saw an addition of 21,996 units, taking the total open interest (contracts) to 2,10,481 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 4.70 points at 2353.15 (LTP) compared with spot closing of 2348.45. The numbers of contracts traded were 27,512 (Provisional).
Titan Company February 2022 futures traded at a premium of 4.95 points at 2468.95 (LTP) compared with spot closing of 2464.00. The numbers of contracts traded were 24,071 (Provisional).
Jubilant FoodWorks February 2022 futures traded at a premium of 4.60 points at 3207.95 (LTP) compared with spot closing of 3203.35. The numbers of contracts traded were 23,551 (Provisional).
HDFC February 2022 futures traded at a premium of 2.75 points at 2524.25 (LTP) compared with spot closing of 2521.50. The numbers of contracts traded were 22,139 (Provisional).
Tata Steel February 2022 futures traded at a premium of 3.80 points at 1166.80 (LTP) compared with spot closing of 1163.00. The numbers of contracts traded were 21,827 (Provisional).
Among, Nifty calls, 17700 SP from the February month expiry was the most active call with an addition of 9,184 units open interests. Among Nifty puts, 17500 SP from the February month expiry was the most active put with a contraction of 1,709 units open interests. The maximum OI outstanding for Calls was at 18000 SP (45,042 units) and that for Puts was at 16500 SP (82,167 units). The respective Support and Resistance levels of Nifty are: Resistance 17,723.85 -- Pivot Point 17,617.50 -- Support -- 17,453.85.
The Nifty Put Call Ratio (PCR) finally stood at (1.51) for February month contract. The top five scrips with highest PCR on Vedanta (0.92), Apollo Tyres (0.85), Dalmia Bharat (0.84), JK Cement (0.81) and Adani Enterprises (0.78).
Among most active underlying, Titan Company witnessed an addition of 3,518 units of Open Interest in the February month futures contract, ICICI Bank witnessed an addition of 801 units of Open Interest in the February month futures contract, HDFC witnessed an addition of 6,900 units of Open Interest in the February month futures contract, Reliance Industries witnessed an addition of 7,325 units of Open Interest in the February month futures contract and SBIN witnessed an addition of 1,221 units of Open Interest in the February month futures contract (provisional).
