The local benchmark -- Nifty – extended its upward momentum on the weekly Futures & Options expiry session, while India VIX was down by 4.39%. Market made positive start, as Managing Director of the International Monetary Fund Kristalina Georgieva said a high growth rate for India, as projected in the latest World Economic Outlook, is not only healthy for the country but also positive news for the world. Further, market added more points, as retirement fund body EPFO said it added 14.12 lakh subscribers in February 2022, 14 per cent more than 12.37 lakh enrolled in the same month a year ago. Market continued its firm trade till the end, after Service Export Promotion Council (SEPC) stated that services sector exports are likely to touch $350 billion in the current fiscal. It said the target has been revised from $300 billion to $350 billion for 2022-23 and is set in consideration to the sectors which couldn't perform in the last 2 years due to the pandemic and hopefully will bounce back in FY23, like travel and tourism, hospitality, education and entertainment. Finally, Nifty closed the session above 17350 mark.
Most of the sectoral indices ended in red except Media. The top gainers from the F&O segment were L&TFH, Jubilant FoodWorks and Chambal Fertilisers & Chemicals. On the other hand, the top losers were LTI, Tata Communications and Jindal Steel & Power. In the index option segment, maximum OI continues to be seen in the 18900 -19150 calls and 17200 -17400 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 4.39% and reached 17.85. The 50 share Nifty up by 256.05 points or 1.49% to settle at 17,392.60.
Nifty April 2022 futures closed at 17414.00 (LTP) on Thursday, at a premium of 21.40 points over spot closing of 17392.60, while Nifty May 2022 futures ended at 17463.10 (LTP), at a premium of 70.50 points over spot closing. Nifty April futures saw a contraction of 10,265 units, taking the total outstanding open interest (OI) to 1,80,037 units. The near month derivatives contract will expire on April 28, 2022 (Provisional).
From the most active contracts, Reliance Industries April 2022 futures traded at a discount of 1.35 points at 2780.65 (LTP) compared with spot closing of 2782.00. The numbers of contracts traded were 46,708 (Provisional).
HDFC Bank April 2022 futures traded at a premium of 6.05 points at 1383.75 (LTP) compared with spot closing of 1377.70. The numbers of contracts traded were 43,770 (Provisional).
Infosys April 2022 futures traded at a discount of 1.00 points at 1615.80 (LTP) compared with spot closing of 1616.80. The numbers of contracts traded were 37,774 (Provisional).
Adani Ports April 2022 futures traded at a premium of 3.75 points at 853.75 (LTP) compared with spot closing of 850.00. The numbers of contracts traded were 25,408 (Provisional).
HDFC April 2022 futures traded at a premium of 0.65 points at 2230.65 (LTP) compared with spot closing of 2230.00. The numbers of contracts traded were 21,415 (Provisional).
Among, Nifty calls, 17700 SP from the April month expiry was the most active call with an addition of 19,748 units open interests. Among Nifty puts, 17300 SP from the April month expiry was the most active put with an addition of 51,563 units open interests. The maximum OI outstanding for Calls was at 19000 SP (98,831 units) and that for Puts was at 17300 SP (64,912 units). The respective Support and Resistance levels of Nifty are: Resistance 17,466.37 -- Pivot Point 17,340.93 -- Support -- 17,267.17.
The Nifty Put Call Ratio (PCR) finally stood at (0.93) for April month contract. The top five scrips with highest PCR on Adani Enterprises (1.16), Jubilant FoodWorks (1.06), Biocon (1.03), ACC (1.01) and Coal India (0.90).
Among most active underlying, HDFC Bank witnessed an addition of 3,786 units of Open Interest in the April month futures contract, Reliance Industries witnessed an addition of 9,209 units of Open Interest in the April month futures contract, Adani Ports witnessed an addition of 7,931 units of Open Interest in the April month futures contract, Infosys witnessed an addition of 5,330 units of Open Interest in the April month futures contract and ICICI Bank witnessed a contraction of 166 units of Open Interest in the April month futures contract.
