S&P CNX -- Nifty -- finished Monday’s trade above neutral line, India VIX was up by 4.43%. After making cautious start, market added points as Commerce and Industry Minister Piyush Goyal said that that the comprehensive trade agreement between India and the UAE will help in creating huge job opportunities and boost growth of the domestic economy. The bilateral pact is expected to increase the bilateral trade in goods to over $100 billion and trade in services to over $15 billion within five years. Further, market continued its firm trade, as data provided by the Centre for Monitoring Indian Economy (CMIE) showed that in one of the largest expansions in the labour market since the beginning of the pandemic, 8.8 million people joined the country's workforce in April.
However, in afternoon trade, market entered into red zone for little time with Reserve Bank of India (RBI) data showing that India’s forex reserves declined by $1.774 billion to $595.954 billion for the week ended May 6 on the back of a fall in the core currency assets. But, market managed to regain its positive terrain in late afternoon session, as Retailers Association of India (RAI) in its latest survey stated that retail businesses across India grew 23 per cent in April 2022 in terms of sales as compared to pre-pandemic levels of the same month in 2019 with customers coming back to stores.
Most of the sectoral indices ended in green except FMCG, IT and Pharma. The top gainers from the F&O segment were Vodafone Idea, Balkrishna Industries and Eicher Motors. On the other hand, the top losers were Metropolis Healthcare, Aditya Birla Capital and Honeywell Automation India. In the index option segment, maximum OI continues to be seen in the 16900 -17200 calls and 14950 -15200 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 4.43% and reached 24.53. The 50 share Nifty up by 60.15 points or 0.38% to settle at 15,842.30.
Nifty May 2022 futures closed at 15865.00 (LTP) on Monday, at a premium of 22.70 points over spot closing of 15842.30, while Nifty June 2022 futures ended at 15868.90 (LTP), at a premium of 26.60 points over spot closing. Nifty May futures saw an addition of 1,810 units, taking the total open interest (contracts) to 1,85,849 units. The near month derivatives contract will expire on May 26, 2022.
From the most active contracts, Ambuja Cements May 2022 futures traded at a premium of 1.60 points at 369.00 (LTP) compared with spot closing of 367.40. The numbers of contracts traded were 35,608.
Reliance Industries May 2022 futures traded at a premium of 7.05 points at 2435.10 (LTP) compared with spot closing of 2428.05. The numbers of contracts traded were 26,354.
SBIN May 2022 futures traded at a discount of 6.20 points at 449.80 (LTP) compared with spot closing of 456.00. The numbers of contracts traded were 25,425.
HDFC Bank May 2022 futures traded at a premium of 2.25 points at 1310.25 (LTP) compared with spot closing of 1308.00. The numbers of contracts traded were 24,786.
Tata Steel May 2022 futures traded at a premium of 3.00 points at 1112.00 (LTP) compared with spot closing of 1109.00. The numbers of contracts traded were 21,177.
Among, Nifty calls, 16000 SP from the May month expiry was the most active call with an addition of 7,201 units open interests. Among Nifty puts, 15800 SP from the May month expiry was the most active put with a contraction of 804 units open interests. The maximum OI outstanding for Calls was at 17000 SP (79,654 units) and that for Puts was at 15000 SP (60,037 units). The respective Support and Resistance levels of Nifty are: Resistance 15,966.95 -- Pivot Point 15,853.30 -- Support -- 15,728.65.
The Nifty Put Call Ratio (PCR) finally stood at (1.01) for May month contract. The top five scrips with highest PCR on Eicher Motors (0.92), Gujrat Gas (0.91), RBL Bank (0.89), TVS Motors (0.81) and Bandhan Bank (0.77).
Among most active underlying, Ambuja Cements witnessed an addition of 945 units of Open Interest in the May month futures contract, HDFC Bank witnessed a contraction of 988 units of Open Interest in the May month futures contract, SBIN witnessed a contraction of 398 units of Open Interest in the May month futures contract, Reliance Industries witnessed an addition of 1,729 units of Open Interest in the May month futures contract and ICICI Bank witnessed an addition of 1,394 units of Open Interest in the May month futures contract (Provisional).
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