The local benchmark -- Nifty finished last trading day of week near intraday low point amid weak global markets. Market made negative start, as rising crude oil prices added pressure on domestic markets. Crude oil prices rose buffeted by concerns about tightened supply as the European Union mulls a potential ban on Russian oil imports that would further restrict worldwide oil trade. Market continued to trade in red, as traders remained cautious with report stating that investments in the Indian capital markets through participatory notes (P-notes) dropped to Rs 87,979 crore as of March-end, with experts believing that foreign investors will continue to adopt a cautious stance. Besides, foreign institutional investors (FII) net sold Indian shares worth Rs 713.7 crore -- a tenth straight day of outflow for the street. In late afternoon session, market enlarged its losses to trade day’s low point, as private report stated that UBS has downgraded its GDP growth forecast for India for the current financial year from 7.7 to 7.0 percent, adding that the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) risks failing to meet its inflation mandate. Finally, Nifty closed the session below 17200 level.
All the sectoral indices ended in red. The top gainers from the F&O segment were UBL, Mindtree and Colgate-Palmolive. On the other hand, the top losers were Hindalco Industries, ICICI Lombard General Insurance and Polycab India. In the index option segment, maximum OI continues to be seen in the 17950 -18150 calls and 16900 -17150 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 2.80% and reached 18.35. The 50 share Nifty down by 220.65 points or 1.27% to settle at 17,171.95.
Nifty April 2022 futures closed at 17166.90 (LTP) on Friday, at a discount of 5.05 points over spot closing of 17171.95, while Nifty May 2022 futures ended at 17218.05 (LTP), at a premium of 46.10 points over spot closing. Nifty April futures saw a contraction of 1,688 units, taking the total open interest (contracts) to 1,68,840 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 1.25 points at 1354.60 (LTP) compared with spot closing of 1353.35. The numbers of contracts traded were 44,756 (Provisional).
Reliance Industries April 2022 futures traded at a premium of 0.10 points at 2762.10 (LTP) compared with spot closing of 2762.00. The numbers of contracts traded were 39,893 (Provisional).
Infosys April 2022 futures traded at a premium of 0.90 points at 1588.55 (LTP) compared with spot closing of 1587.65. The numbers of contracts traded were 36,563 (Provisional).
Adani Ports April 2022 futures traded at a discount of 1.00 points at 873.00 (LTP) compared with spot closing of 874.00. The numbers of contracts traded were 33,014 (Provisional).
ICICI Bank April 2022 futures traded at a premium of 1.40 points at 748.40 (LTP) compared with spot closing of 747.00. The numbers of contracts traded were 26,924 (Provisional).
Among, Nifty calls, 17300 SP from the April month expiry was the most active call with an addition of 33,146 units open interests. Among Nifty puts, 17000 SP from the April month expiry was the most active put with an addition of 34,638 units open interests. The maximum OI outstanding for Calls was at 18000 SP (2,16,406 units) and that for Puts was at 17000 SP (1,19,391 units). The respective Support and Resistance levels of Nifty are: Resistance 17,275.10 -- Pivot Point 17,212.15 -- Support -- 17,109.00.
The Nifty Put Call Ratio (PCR) finally stood at (0.74) for April month contract. The top five scrips with highest PCR on Adani Enterprises (1.15), Biocon (0.99), ACC (0.99), IOC (0.88) and BPCL (0.87).
Among most active underlying, Adani Ports witnessed an addition of 8,073 units of Open Interest in the April month futures contract, HDFC Bank witnessed a contraction of 2,065 units of Open Interest in the April month futures contract, ICICI Bank witnessed an addition of 684 units of Open Interest in the April month futures contract, Reliance Industries witnessed a contraction of 1,305 units of Open Interest in the April month futures contract and Infosys witnessed a contraction of 3,791 units of Open Interest in the April month futures contract.
