Nifty continued its lower trade for fifth day and ended the session with the cut of above half a percent, as the geo-political tension between Russia and Ukraine remained volatile. Market breadth improved by the end of the session as 17 stocks ended higher on the Nifty while 33 stocks closed in the red. Market made negative start amid the Russia-Ukraine standoff. Markets are trading under pressure after Russian President Vladimir Putin recognized the independence of two Russian-backed breakaway republics in the east of Ukraine. Moreover, as per a private report, some Ukrainian civilians have been killed in frontline shelling over the night. Further, index continued its weak trade even after NITI Aayog CEO Amitabh Kant’s statement that Indian economy growing at 9.2%, among fastest-growing large economies. He added the Indian economy is expected to grow at similar rates in the coming years.
But, in late afternoon session, market trimmed most of its losses as traders founds some support after private report stated that generation of e-way bills for inter-state trade under the goods and services tax (GST) system stood at 24.27 lakh in the week ended February 20, 3.2% higher than in the week ended January 23, reflecting an improvement in commerce. Finally, Nifty finished the session below 17100 mark.
All the sectoral indices ended in red. The top gainers from the F&O segment were Nippon Life India Asset Management, Apollo Hospitals Enterprise and National Aluminium Company. On the other hand, the top losers were ZEEL, RAIN and DLF. In the index option segment, maximum OI continues to be seen in the 17800 -18200 calls and 16900 -17150 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 16.41% and reached 26.66. The 50 share Nifty down by 114.45 points or 0.67% to settle at 17,092.20.
Nifty February 2022 futures closed at 17061.00 (LTP) on Tuesday, at a discount of 31.20 points over spot closing of 17092.20, while Nifty March 2022 futures ended at 17100.00 (LTP), at a premium of 7.80 points over spot closing. Nifty February futures saw an addition of 2,538 units, taking the total open interest (contracts) to 1,93,275 units. The near month derivatives contract will expire on February 24, 2022 (Provisional).
From the most active contracts, Infosys February 2022 futures traded at a discount of 4.95 points at 1728.05 (LTP) compared with spot closing of 1733.00. The numbers of contracts traded were 52,063 (Provisional).
Reliance Industries February 2022 futures traded at a discount of 3.25 points at 2386.50 (LTP) compared with spot closing of 2389.75. The numbers of contracts traded were 50,587 (Provisional).
Tata Steel February 2022 futures traded at a discount of 0.05 points at 1133.95 (LTP) compared with spot closing of 1134.00. The numbers of contracts traded were 40,401 (Provisional).
TCS February 2022 futures traded at a premium of 5.00 points at 3595.00 (LTP) compared with spot closing of 3590.00. The numbers of contracts traded were 38,865 (Provisional).
SBIN February 2022 futures traded at a premium of 0.30 points at 498.20 (LTP) compared with spot closing of 497.90. The numbers of contracts traded were 28,129 (Provisional).
Among, Nifty calls, 17200 SP from the February month expiry was the most active call with a contraction of 24,403 units open interests. Among Nifty puts, 16500 SP from the February month expiry was the most active put with an addition of 36,240 units open interests. The maximum OI outstanding for Calls was at 18000 SP (1,58,956 units) and that for Puts was at 17000 SP (1,38,078 units). The respective Support and Resistance levels of Nifty are: Resistance 17,212.57 -- Pivot Point 17,028.18 -- Support -- 16,907.82.
The Nifty Put Call Ratio (PCR) finally stood at (0.83) for February month contract. The top five scrips with highest PCR on Havells India (1.10), Escorts (0.94), Cholamandalam Investment and Fin Co (0.87), Eicher Motors (0.85) and Vedanta (0.79).
Among most active underlying, Reliance Industries witnessed an addition of 10,499 units of Open Interest in the February month futures contract, Infosys witnessed an addition of 7,450 units of Open Interest in the February month futures contract, ICICI Bank witnessed an addition of 1,428 units of Open Interest in the February month futures contract, Tata Motors witnessed a contraction of 843 units of Open Interest in the February month futures contract and SBIN witnessed an addition of 5,484 units of Open Interest in the February month futures contract.
