S&P CNX – Nifty finished the Monday’s session on higher note for third straight session. Market made a positive start, after Commerce and Industry Minister Piyush Goyal said India is one of the fastest-growing economies in the world and it is expected to reach $30 trillion in the coming 30 years. He said if India grows at 8 per cent every year on a compounded annual growth basis, the economy will double in about nine years. Further, index continued to trade in green territory, as the Reserve Bank of India (RBI) stated that net profits of manufacturing companies surged by 50.2 per cent during 2021-22, the input cost pressures notwithstanding. It said net profit also increased for the information technology (IT) companies, whereas the non-IT services sector continued to record losses at the aggregate level. Market sustained its gains till the end, as Federation of Indian Export Organisations (FIEO) said that proposed free trade agreements (FTAs), including with the UK, European Union and GCC would open new opportunities to boost India’s exports in these markets. FIEO also said the government initiatives are helping the country record a healthy growth rate in exports. Finally, Nifty closed the day’s trade with the gain of above half a percent.
All the sectoral indices ended in green. The top gainers from the F&O segment were City Union Bank, Persistent Systems and Firstsource Solutions. On the other hand, the top losers were Biocon, Cholamandalam Investment and Fin Co and HDFC Asset Management Company. In the index option segment, maximum OI continues to be seen in the 15900 -16200 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 2.21% and reached 21.01. The 50 share Nifty up by 132.80 points or 0.85% to settle at 15,832.05.
Nifty June 2022 futures closed at 15838.05 (LTP) on Monday, at a premium of 6.00 points over spot closing of 15832.05, while Nifty July 2022 futures ended at 15843.00 (LTP), at a premium of 10.95 points over spot closing. Nifty June futures saw a contraction of 10,010 units, taking the total open interest (contracts) to 1,87,711 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 6.75 points at 2502.35 (LTP) compared with spot closing of 2495.60. The numbers of contracts traded were 41,469 (Provisional).
Infosys June 2022 futures traded at a premium of 3.10 points at 1479.75 (LTP) compared with spot closing of 1476.65. The numbers of contracts traded were 40,191 (Provisional).
HDFC Bank June 2022 futures traded at a premium of 3.05 points at 1358.95 (LTP) compared with spot closing of 1355.90. The numbers of contracts traded were 34,404 (Provisional).
Tata Steel June 2022 futures traded at a premium of 0.05 points at 867.05 (LTP) compared with spot closing of 867.00. The numbers of contracts traded were 31,578 (Provisional).
Adani Ports June 2022 futures traded at a premium of 0.05 points at 685.80 (LTP) compared with spot closing of 685.75. The numbers of contracts traded were 30,440 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with an addition of 30,066 units open interests. Among Nifty puts, 15800 SP from the June month expiry was the most active put with an addition of 57,470 units open interests. The maximum OI outstanding for Calls was at 16000 SP (1,76,484 units) and that for Puts was at 15000 SP (1,73,511 units). The respective Support and Resistance levels of Nifty are: Resistance 15,901.17 -- Pivot Point 15,858.33 -- Support -- 15,789.22.
The Nifty Put Call Ratio (PCR) finally stood at (1.00) for June month contract. The top five scrips with highest PCR on Hero Motocorp (1.65), Maruti Suzuki (1.23), Indus Tower (1.12), Ashok Leyland (1.04) and REC (1.03).
Among most active underlying, Adani Ports witnessed an addition of 6,569 units of Open Interest in the June month futures, Reliance Industries witnessed an addition of 1,244 units of Open Interest in the June month futures, HDFC Bank witnessed a contraction of 1,137 units of Open Interest in the June month futures, Adani Enterprises witnessed an addition of 798 units of Open Interest in the June month futures and Infosys witnessed an addition of 1,038 units of Open Interest in the June month futures contract (Provisional).
