Nifty finished the choppy trade of day above 16600 mark on Friday, led by gains in banking and metal stocks despite weak global cues. Market began day on negative note amid ongoing tensions between Russia and Ukraine. Further, market turned volatile after Kristalina Georgieva, the Managing Director (MD) of the International Monetary Fund (IMF) has said that India has been very good at managing its finances but the surge in global energy prices is going to have a negative impact on its economy. She observed that the war has posed a challenge to economies around the world, including India.
Index continued to oscillate around neutral line with positive bias for the most of the time, taking support with Rating agency Crisil in its latest report ‘India Outlook, Fiscal 2023′ has said that Indian economy is likely to grow by 7.8 per cent in 2022-23, mainly driven by the government’s drive to push infrastructure spending and likely increase in private capital expenditure. Finally, Nifty managed to end the session in green territory.
Most of the sectoral indices ended in green except IT, Media and Auto. The top gainers from the F&O segment were GNFC, Balrampur Chini Mills and ATUL. On the other hand, the top losers were Dalmia Bharat, Manappuram Finance and FSL. In the index option segment, maximum OI continues to be seen in the 17900 -18150 calls and 15900 -16200 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 0.92% and reached 25.35. The 50 share Nifty up by 35.55 points or 0.21% to settle at 16,630.45.
Nifty March 2022 futures closed at 16656.60 (LTP) on Friday, at a premium of 26.15 points over spot closing of 16630.45, while Nifty April 2022 futures ended at 16700.00 (LTP), at a premium of 69.55 points over spot closing. Nifty March futures saw an addition of 13,935 units, taking the total open interest (Contracts) to 2,54,309 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 4.70 points at 1303.20 (LTP) compared with spot closing of 1298.50. The numbers of contracts traded were 28,874 (Provisional).
Reliance Industries March 2022 futures traded at a premium of 2.45 points at 2395.60 (LTP) compared with spot closing of 2393.15. The numbers of contracts traded were 23,494 (Provisional).
ICICI Bank March 2022 futures traded at a premium of 1.75 points at 679.75 (LTP) compared with spot closing of 678.00. The numbers of contracts traded were 20,879 (Provisional).
Infosys March 2022 futures traded at a premium of 8.65 points at 1831.95 (LTP) compared with spot closing of 1823.30. The numbers of contracts traded were 19,695 (Provisional).
Tata Motors March 2022 futures traded at a premium of 1.95 points at 420.00 (LTP) compared with spot closing of 418.05. The numbers of contracts traded were 19,180 (Provisional).
Among, Nifty calls, 17000 SP from the March month expiry was the most active call with a contraction of 436 units open interests. Among Nifty puts, 16500 SP from the March month expiry was the most active put with an addition of 3,918 units open interests. The maximum OI outstanding for Calls was at 18000 SP (44,961 units) and that for Puts was at 16000 SP (84,206 units). The respective Support and Resistance levels of Nifty are: Resistance 16,726.27 -- Pivot Point 16,598.58 -- Support -- 16,502.77.
The Nifty Put Call Ratio (PCR) finally stood at (1.47) for March month contract. The top five scrips with highest PCR on Gujarat Narmada Valley Fertlzrs&Chms (1.04), Berger Paints (0.94), Adani Enterprises (0.89), Ramco Cements (0.88) and Jindal Steel & Power (0.86).
Among most active underlying, Tata Motors witnessed an addition of 2,022 units of Open Interest in the March month futures contract, ICICI Bank witnessed an addition of 2,324 units of Open Interest in the March month futures contract, Tata Steel witnessed an addition of 613 units of Open Interest in the March month futures contract, HDFC Bank witnessed an addition of 3,507 units of Open Interest in the March month futures contract and Reliance Industries witnessed an addition of 2,592 units of Open Interest in the March month futures contract (Provisional).
