Nifty extended its gains on Tuesday and finished the session above 17300 mark, as traders took support on falling crude oil rates and optimistic about Ukraine and Russia look to continue peace talks, which could lead to an easing of sanctions on Russian oil by the West. Mid- and small-cap shares finished on a strong note as Nifty Midcap 100 index surged 0.41 per cent lower and small-cap rose 0.34 per cent. 10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- ended in the green. Market made positive start, as Union Commerce and Industry Minister Piyush Goyal said that India has emerged as the world's third-largest startup ecosystem and the target is to acquire the number one position. Further, index extended its gains, as Crisil Ratings in its latest report has said that Reserve Bank of India’s (RBI) new rules for microfinance institutions (MFIs), who have been deeply impacted in the Covid 19 pandemic because of loan losses, will help widen profits by giving such entities greater flexibility in operations. Market maintained its gains above neutral line till the end and ended the session with the gains of above half a percent.
Most of the sectoral indices ended in green except FMCG, Media and PSU Bank. The top gainers from the F&O segment were JK Cement, IPCA Laboratories and Max Financial Services. On the other hand, the top losers were Escorts, ONGC and Hero Motocorp. In the index option segment, maximum OI continues to be seen in the 17900 -18150 calls and 16300 -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 5.78% and reached 21.30. The 50 share Nifty up by 103.30 points or 0.60% to settle at 17,325.30.
Nifty March 2022 futures closed at 17388.55 (LTP) on Tuesday, at a premium of 63.25 points over spot closing of 17325.30, while Nifty April 2022 futures ended at 17435.00 (LTP), at a premium of 109.70 points over spot closing. Nifty March futures saw an addition of 7,051 units, taking the total open interest (contracts) to 1,93,788 units. The near month derivatives contract will expire on March 31, 2022 (Provisional).
From the most active contracts, Reliance Industries March 2022 futures traded at a premium of 5.55 points at 2623.55 (LTP) compared with spot closing of 2618.00. The numbers of contracts traded were 40,253 (Provisional).
Bharti Airtel March 2022 futures traded at a premium of 0.35 points at 753.85 (LTP) compared with spot closing of 753.50. The numbers of contracts traded were 28,548 (Provisional).
Tata Steel March 2022 futures traded at a premium of 0.10 points at 1332.10 (LTP) compared with spot closing of 1332.00. The numbers of contracts traded were 27,332 (Provisional).
ICICI Bank March 2022 futures traded at a premium of 2.10 points at 717.75 (LTP) compared with spot closing of 715.65. The numbers of contracts traded were 26,791 (Provisional).
TCS March 2022 futures traded at a premium of 9.70 points at 3710.70 (LTP) compared with spot closing of 3701.00. The numbers of contracts traded were 26,115 (Provisional).
Among, Nifty calls, 17500 SP from the March month expiry was the most active call with an addition of 18,968 units open interests. Among Nifty puts, 17300 SP from the March month expiry was the most active put with an addition of 62,462 units open interests. The maximum OI outstanding for Calls was at 18000 SP (1,85,099 units) and that for Puts was at 16500 SP (1,35,000 units). The respective Support and Resistance levels of Nifty are: Resistance 17,367.40 -- Pivot Point 17,301.55 -- Support -- 17,259.45.
The Nifty Put Call Ratio (PCR) finally stood at (0.97) for March month contract. The top five scrips with highest PCR on JSW Steel (1.35), Jindal Steel & Power (1.19), Reliance Industries (1.04), Adani Enterprises (0.97) and GNFC (0.96).
Among most active underlying, Reliance Industries witnessed an addition of 10,919 units of Open Interest in the March month futures contract, ICICI Bank witnessed a contraction of 2,747 units of Open Interest in the March month futures contract, Bharti Airtel witnessed an addition of 4,439 units of Open Interest in the March month futures contract, HDFC Bank witnessed a contraction of 38 units of Open Interest in the March month futures contract and Adani Ports witnessed a contraction of 937 units of Open Interest in the March month futures contract (Provisional).
