S&P CNX -- Nifty ended Wednesday’s session near intraday high point. On the sectoral front, Nifty Auto index was the top gainer, followed by Nifty Metal, Nifty Bank, and Nifty Media indices. India VIX was down above a percent. Market made positive start, as the preliminary data of the commerce ministry showed that India’s exports grew by 28.51 per cent to $8.67 billion during February 1-7 on account of healthy growth in sectors such as petroleum, engineering and gems and jewellery. The exports during the first week of this month rose by about 31 per cent. According to the data, $8.67 billion per week is almost 20 per cent more than the weekly run rate of $ 7 billion clocked this year.
Further, market added more points with Crisil Research report where it said Union Budget capex not as high as it sounds. It, however, was quick to add that considering that governments usually tend to cut capex during a crisis, the government has maintained its focus on growth-spurring initiatives amid the pandemic. Index continued the gaining momentum to touch intraday high point ahead of the Reserve Bank of India's monetary panel committee (MPC) meeting outcome on Thursday morning. The RBI’s policy announcement will be the key focus tomorrow as domestic inflation and policy tightening by global central banks would pressurize the central bank to adopt a similar stance. Finally Nifty finished the session with the gains of above a percent.
Most of the sectoral indices ended in green except PSU Bank and Oil & Gas. The top gainers from the F&O segment were Abbott India, Coal India and SBI Card. On the other hand, the top losers were Godrej Consumer Products, Bank of Baroda and MGL. 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 5.74% and reached 18.56. The 50 share Nifty up by 197.05 points or 1.14% to settle at 17,463.80.
Nifty February 2022 futures closed at 17487.00 (LTP) on Wednesday, at a premium of 23.20 points over spot closing of 17463.80, while Nifty March 2022 futures ended at 17548.95 (LTP), at a premium of 85.15 points over spot closing. Nifty February futures saw an addition of 576 units, taking the total open interest (Contracts) to 1,88,498 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 3.00 points at 2387.00 (LTP) compared with spot closing of 2384.00. The numbers of contracts traded were 30,959 (Provisional).
HDFC February 2022 futures traded at a premium of 13.35 points at 2453.75 (LTP) compared with spot closing of 2440.40. The numbers of contracts traded were 23,178 (Provisional).
Tata Steel February 2022 futures traded at a premium of 7.00 points at 1225.00 (LTP) compared with spot closing of 1218.00. The numbers of contracts traded were 22,569 (Provisional).
Maruti Suzuki India February 2022 futures traded at a discount of 28.80 points at 8931.95 (LTP) compared with spot closing of 8960.75. The numbers of contracts traded were 20,907 (Provisional).
Bharti Airtel February 2022 futures traded at a discount of 0.15 points at 719.75 (LTP) compared with spot closing of 719.90. The numbers of contracts traded were 19,581 (Provisional).
Among, Nifty calls, 17500 SP from the February month expiry was the most active call with an addition of 120 units open interests. Among Nifty puts, 17000 SP from the February month expiry was the most active put with an addition of 3,411 units open interests. The maximum OI outstanding for Calls was at 18000 SP (47,817 units) and that for Puts was at 16500 SP (68,672 units). The respective Support and Resistance levels of Nifty are: Resistance 17,514.30 -- Pivot Point 17,426.65 -- Support -- 17,376.15.
The Nifty Put Call Ratio (PCR) finally stood at (1.37) for February month contract. The top five scrips with highest PCR on Vedanta (1.10), Escorts (1.01), Indigo (0.97), Havells India (0.94) and Bank of Baroda (0.93).
Among most active underlying, Maruti Suzuki witnessed an addition of 3,598 units of Open Interest in the February month futures contract, Reliance Industries witnessed a contraction of 1,103 units of Open Interest in the February month futures contract, HDFC witnessed an addition of 9,185 units of Open Interest in the February month futures contract, Vedanta witnessed a contraction of 100 units of Open Interest in the February month futures contract and Tata Motors witnessed a contraction of 516units of Open Interest in the February month futures contract (provisional).
