Indian equity benchmark -- Nifty -- ended Tuesday’s session with hefty losses. Market made slightly positive start, as traders took support with the commerce department’s preliminary data showing that India exported goods worth $18.79 billion during the first two weeks of April, up 37 per cent compared to the same period last year, as external demand continued to remain robust.
Further, index traded between positive and negative territory, as flagging risks of disruptive spillovers from geopolitical hostilities, an RBI article said India faces these challenges from a position of strength built on broadened vaccine coverage, financial sector resilience and robust exports.
In afternoon deals, index was in green terrain, taking support with working paper of the World Bank stated that extreme poverty in India declined by 12.3 percentage points between 2011 and 2019, with rural areas doing better than urban centres. However, index failed to protect gains and skidded into negative territory in the last hour of the trade and ended the session below 17000 mark.
Most of the sectoral indices ended in red except Oil and Gas. The top gainers from the F&O segment were Apollo Hospitals, Coal India and Reliance Industries. On the other hand, the top losers were Mindtree, Chambal Fertilisers & Chemicals and Jubilant Foodworks. In the index option segment, maximum OI continues to be seen in the 17800 -18150 calls and 16400 -16700 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 2.27% and reached 19.78. The 50 share Nifty down by 215.00 points or 1.25% to settle at 16,958.65.
Nifty April 2022 futures closed at 16910.90 (LTP) on Tuesday, at a discount of 47.75 points over spot closing of 16958.65, while Nifty May 2022 futures ended at 16955.00 (LTP), at a discount of 3.65 points over spot closing. Nifty April futures saw an addition of 11,071 units, taking the total open interest (contracts) to 2,09,072 units. The near month derivatives contract will expire on April 28, 2022 (Provisional).
From the most active contracts, HDFC Bank April 2022 futures traded at a premium of 3.00 points at 1338.00 (LTP) compared with spot closing of 1335.00. The numbers of contracts traded were 82,351(Provisional).
Reliance Industries April 2022 futures traded at a premium of 1.00 points at 2627.00 (LTP) compared with spot closing of 2626.00. The numbers of contracts traded were 63,309 (Provisional).
HDFC April 2022 futures traded at a premium of 8.55 points at 2130.30 (LTP) compared with spot closing of 2121.75. The numbers of contracts traded were 56,832 (Provisional).
Infosys April 2022 futures traded at a premium of 3.25 points at 1568.25 (LTP) compared with spot closing of 1565.00. The numbers of contracts traded were 46,783 (Provisional).
ICICI Bank April 2022 futures traded at a discount of 0.25 points at 759.60 (LTP) compared with spot closing of 759.85. The numbers of contracts traded were 27,556 (Provisional).
Among, Nifty calls, 17200 SP from the April month expiry was the most active call with an addition of 13,950 units open interests. Among Nifty puts, 16800 SP from the April month expiry was the most active put with an addition of 1,647 units open interests. The maximum OI outstanding for Calls was at 18000 SP (62,436 units) and that for Puts was at 16500 SP (60,531 units). The respective Support and Resistance levels of Nifty are: Resistance 17,214.63 -- Pivot Point 17,019.67 -- Support -- 16,763.68.
The Nifty Put Call Ratio (PCR) finally stood at (1.11) for April month contract. The top five scrips with highest PCR on Adani Enterprises (0.90), Bharat Electronics (0.84), HPCL (0.84), Power Grid (0.81) and RBL Bank (0.74).
Among most active underlying, HDFC Bank witnessed an addition of 21,739 units of Open Interest in the April month futures contract, Reliance Industries witnessed an addition of 2,641 units of Open Interest in the April month futures contract, HDFC witnessed an addition of 15,284 units of Open Interest in the April month futures contract, ICICI Bank witnessed an addition of 3,714 units of Open Interest in the April month futures contract and Infosys witnessed an addition of 8,497 units of Open Interest in the April month futures contract (Provisional).
