After making positive start, Nifty ended the Thursday’s session with the cut of above half a percent, as investors kept an eye on developments related to ongoing war between Ukraine and Russia. The day began on a positive note, as the commerce ministry in its preliminary data has indicated that India's exports rose by 22.36 per cent to $33.81 billion in February 2022 on account of healthy growth in sectors like engineering, petroleum and chemicals. Imports during the month too jumped by about 35 per cent to $55 billion, with inbound shipments of petroleum and crude oil surging 66.56 per cent to $15 billion. Further, market trimmed some of its gains but continued its trade above neutral line with report stating that investments in agri-tech start-ups significantly grew in four years to nearly Rs 6,600 crore till 2020 on the back of explosive growth potential for companies that address inefficiencies across the agri value chain.
However, in afternoon trade, index failed to stay in green and slipped into red zone after exporters’ body Federation of Indian Export Organisations said export cargoes to CIS (Commonwealth of Independent States) countries are impacted due to ongoing war between Russia and Ukraine as no shipping line is willing to take consignments there. To these countries, Indian goods move from the Suez Canal and the Black Sea. Finally, nifty closed the session below 16500 mark.
Most of the sectoral indices ended in red except Media, Metal and IT. The top gainers from the F&O segment were Vodafone Idea, Persistent Systems and Hindustan Petroleum Corporation. On the other hand, the top losers were UltraTech Cement, UBL and Gujart Gas. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 16400 -16600 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 3.68% and reached 28.16. The 50 share Nifty down by 107.90 points or 0.65% to settle at 16,498.05.
Nifty March 2022 futures closed at 16527.10 (LTP) on Thursday, at a premium of 29.05 points over spot closing of 16498.05, while Nifty April 2022 futures ended at 16577.00 (LTP) , at a premium of 78.95 points over spot closing. Nifty March futures saw an addition of 15,590 units, taking the total open interest (contracts) to 2,66,454 units. The near month derivatives contract will expire on March 31, 2022 (Provisional).
From the most active contracts, Tata Steel March 2022 futures traded at a premium of 2.00 points at 1305.00 (LTP) compared with spot closing of 1303.00. The numbers of contracts traded were 42,101 (Provisional).
ICICI Bank March 2022 futures traded at a premium of 1.90 points at 701.55 (LTP) compared with spot closing of 699.65. The numbers of contracts traded were 26,152 (Provisional).
Reliance Industries March 2022 futures traded at a premium of 5.00 points at 2387.00 (LTP) compared with spot closing of 2382.00. The numbers of contracts traded were 25,462 (Provisional).
Vedanta March 2022 futures traded at a discount of 11.20 points at 384.15 (LTP) compared with spot closing of 395.35. The numbers of contracts traded were 24,261 (Provisional).
Infosys March 2022 futures traded at a discount of 0.20 points at 1721.55 (LTP) compared with spot closing of 1721.75. The numbers of contracts traded were 24,185 (Provisional).
Among, Nifty calls, 17000 SP from the March month expiry was the most active call with a contraction of 618 units open interests. Among Nifty puts, 16500 SP from the March month expiry was the most active put with an addition of 4,262 units open interests. The maximum OI outstanding for Calls was at 18000 SP (48,722 units) and that for Puts was at 16500 SP (1,02,528 units). The respective Support and Resistance levels of Nifty are: Resistance 16,697.02 -- Pivot Point 16,569.98 -- Support -- 16,371.02.
The Nifty Put Call Ratio (PCR) finally stood at (1.72) for March month contract. The top five scrips with highest PCR on JK Cements (9.33), Berger Paints India (1.31), ABB India (0.90), RBL Bank (0.89) and Tata Steel (0.88).
Among most active underlying, Vedanta witnessed an addition of 1,735 units of Open Interest in the March month futures contract, ICICI Bank witnessed an addition of 6,339 units of Open Interest in the March month futures contract, Tata Steel witnessed an addition of 1,731 units of Open Interest in the March month futures contract, Tata Motors witnessed an addition of 1,189 units of Open Interest in the March month futures contract and Reliance Industries witnessed an addition of 2,939 units of Open Interest in the March month futures contract (Provisional).
