Nifty ended Thursday’s trade with the gains of over half a percent amid weekly F&O expiry. India VIX was down by 1.97%. Market made positive start after Prime Minister Narendra Modi said the government expects the Indian economy to grow by 7.5 per cent this year. Modi also said the value of the Indian digital economy will reach $1 trillion by 2025. Further, index extended its gains after edible oil prices in the retail market have started easing with softening of international rates and the government's timely intervention. However, in late afternoon session, market trimmed its gains to slipped into red for little time, as the Reserve Bank of India (RBI) in its latest report has showed that India witnessed a current account deficit (CAD) of 1.2 per cent of Gross Domestic Product (GDP) in fiscal year 2021-22 (FY22) against a surplus of 0.9 per cent in FY2020-21 due to a wider trade deficit. But, in the last leg of trade, market recovered from losses to end the session on higher note, as private report stating that the corporate profit to Gross Domestic Product (GDP) ratio rebounded to a decade high of 4.3 per cent and 4.5 per cent for the Nifty-500 universe and listed India companies, respectively. The recovery was driven by the expansion in the economy, after a Covid-led contraction in 2021, while corporate profit rose at a faster rate of 48 per cent year-on-year for the Nifty 500 companies.
All the sectoral indices ended in green except Oil & Gas. The top gainers from the F&O segment were Maruti Suzuki, Hero Motocrop and Eicher Motors. On the other hand, the top losers were Reliance Industries, Manappuram Finance and Indigo. In the index option segment, maximum OI continues to be seen in the 15900 -16200 calls and 13900 -14200 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 1.97% and reached 20.88. The 50 share Nifty up by 143.35 points or 0.93% to settle at 15,556.65.
Nifty June 2022 futures closed at 15593.45 (LTP) on Thursday, at a premium of 36.80 points over spot closing of 15556.65, while Nifty July 2022 futures ended at 15602.05 (LTP), at a premium of 45.40 points over spot closing. Nifty June futures saw a contraction of 10,046 units, taking the total open interest (Contracts) to 2,09,543 units. The near month derivatives contract will expire on June 30, 2022 (Provisional).
From the most active contracts, Reliance Industries June 2022 futures traded at a premium of 5.60 points at 2474.60 (LTP) compared with spot closing of 2469.00. The numbers of contracts traded were 53,751 (Provisional).
Maruti Suzuki June 2022 futures traded at a premium of 5.60 points at 8305.90 (LTP) compared with spot closing of 8300.30. The numbers of contracts traded were 29,019 (Provisional).
Tata Steel June 2022 futures traded at a premium of 2.35 points at 843.10 (LTP) compared with spot closing of 840.75. The numbers of contracts traded were 27,382 (Provisional).
HDFC Bank June 2022 futures traded at a premium of 3.55 points at 1340.15 (LTP) compared with spot closing of 1336.60. The numbers of contracts traded were 26,836 (Provisional).
Infosys June 2022 futures traded at a premium of 2.10 points at 1460.00 (LTP) compared with spot closing of 1457.90. The numbers of contracts traded were 25,171 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with a contraction of 41,693 units open interests. Among Nifty puts, 15500 SP from the June month expiry was the most active put with an addition of 7,503 units open interests. The maximum OI outstanding for Calls was at 16000 SP (1,12,114 units) and that for Puts was at 14000 SP (1,19,800 units). The respective Support and Resistance levels of Nifty are: Resistance 15,667.57 -- Pivot Point 15,517.53 -- Support -- 15,406.62.
The Nifty Put Call Ratio (PCR) finally stood at (0.99) for June month contract. The top five scrips with highest PCR on Hero Motocorp (1.72), Eicher Motors (1.31), Maruti Suzuki (1.18), ACC (1.02) and REC (1.01).
Among most active underlying, Reliance Industries witnessed an addition of 8,257 units of Open Interest in the June month futures, Maruti Suzuki witnessed an addition of 3,989 units of Open Interest in the June month futures, ICICI Bank witnessed an addition of 2,341 units of Open Interest in the June month futures and HDFC Bank witnessed an addition of 629 units of Open Interest in the June month futures contract (Provisional).
