Nifty ends above 17200 mark on Thursday

S&P CNX -- Nifty gave smart performance on the day of April F&O expiry. Financial, FMCG, IT and oil & gas stocks were the biggest contributors to the rise in index. Market made positive start with an authoritative seasonal forecast from the South Asian Seasonal Climate Outlook Forum report that normal to above normal rainfall is most likely during the 2022 southwest monsoon season (June-September) over most parts of South Asia. Further, market continued to trade in green, as the Centre approved the continuation of the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme till December 2024. In late morning session, index added more gains with private report stated that as the country recovers from the pandemic, the retail industry has resumed its growth trajectory and is likely to witness 10 per cent annual growth to reach approximately USD 2 trillion by 2032. Index traded strength to strength till the end and closed the session above 17200 mark. 

Most of the sectoral indices ended in green except Media. The top gainers from the F&O segment were Coromandel International, Persistent Systems and Indian Hotels Company. On the other hand, the top losers were Laurus Labs, Balkrishna Industries and Dr. Lal PathLabs. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 16900 -17200 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 5.95% and reached 19.38. The 50 share Nifty up by 206.65 points or 1.21% to settle at 17,245.05.

Nifty May 2022 futures closed at 17253.50 (LTP) on Thursday, at a premium of 8.45 points over spot closing of 17245.05, while Nifty June 2022 futures ended at 17278.00 (LTP), at a premium of 32.95 points over spot closing. Nifty May futures saw an addition of 59,668 units, taking the total open interest (contracts) to 1,86,239 units. The near month derivatives contract will expire on May 26, 2022 (Provisional).

From the most active contracts, Reliance Industries May 2022 futures traded at a premium of 8.00 points at 2818.00 (LTP) compared with spot closing of 2810.00. The numbers of contracts traded were 73,740 (Provisional).

HDFC Bank May 2022 futures traded at a discount of 8.65 points at 1363.85 (LTP) compared with spot closing of 1372.50. The numbers of contracts traded were 44,167 (Provisional).

Infosys May 2022 futures traded at a premium of 2.70 points at 1583.70 (LTP) compared with spot closing of 1581.00. The numbers of contracts traded were 40,647 (Provisional).

Tata Steel May 2022 futures traded at a discount of 2.60 points at 1256.05 (LTP) compared with spot closing of 1258.65. The numbers of contracts traded were 29,958 (Provisional).

ICICI Bank May 2022 futures traded at a premium of 3.35 points at 750.85 (LTP) compared with spot closing of 747.50. The numbers of contracts traded were 28,196 (Provisional).

Among, Nifty calls, 17500 SP from the May month expiry was the most active call with an addition of 2,543 units open interests. Among Nifty puts, 17000 SP from the May month expiry was the most active put with an addition of 7,744 units open interests. The maximum OI outstanding for Calls was at 18000 SP (37,022 units) and that for Puts was at 17000 SP (58,969 units). The respective Support and Resistance levels of Nifty are: Resistance 17,354.68 -- Pivot Point 17,212.87 -- Support -- 17,103.23.

The Nifty Put Call Ratio (PCR) finally stood at (0.76) for May month contract. The top five scrips with highest PCR on Indus Tower (1.18), Aarti Industries (1.10), Alkem Laboratories (1.09), ZEEL (1.00) and Canara Bank (0.96).

Among most active underlying, Reliance Industries witnessed an addition of 30,998 units of Open Interest in the May month futures contract, HDFC Bank witnessed an addition of 22,336 units of Open Interest in the May month futures contract, ICICI Bank witnessed an addition of 10,756 units of Open Interest in the May month futures contract, Bajaj Finance witnessed an addition of 7,053 units of Open Interest in the May month futures contract and Axis Bank witnessed an addition of 6,100 units of Open Interest in the May month futures contract (Provisional).