S&P CNX Nifty ended the Tuesday’s session slightly in green. India VIX was up by 2.11%. Market made negative start, as traders were cautious with rising crude oil prices. Market continued its weak trade for the most part of the trading session, as Crisil in its latest report has said that a fourth of Indian micro, small and medium enterprises (MSMEs) have lost 3 per cent or more of their respective market share to big corporations during the Covid pandemic. It analysed MSMEs from 69 sectors and 147 clusters having a revenue of Rs 47 lakh crore or a fourth of India's GDP to arrive at the details on how the small businesses fared during the pandemic.
But in afternoon session, index pared its losses to trade near neutral line after Union Minister for MSME Narayan Rane has said under the able leadership of Prime Minister Shri Narendra Modi MSME Ministry is committed to achieve the goals of holistic development and self-reliance of MSMEs. In last hour of the trade, index changed its gear to end the session in positive territory. Traders got support as India and the European Union (EU) resumed negotiations, after a gap of over eight years, for a comprehensive free trade agreement, a move aimed at strengthening economic ties between the two regions.
All the sectoral indices ended in green except Bank, Pharma and Consumer Durables. The top gainers from the F&O segment were ONGC, Hindalco and Petronet LNG. On the other hand, the top losers were Astral, IEX and Chambal Fertilisers & Chemicals. 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 2.11% and reached 21.45. The 50 share Nifty up by 18.15 points or 0.11% to settle at 15,850.20.
Nifty June 2022 futures closed at 15859.00 on Tuesday, at a premium of 8.80 points over spot closing of 15850.20, while Nifty July 2022 futures ended at 15860.00, at a premium of 9.80 points over spot closing. Nifty June futures saw an addition of 260 units, taking the total open interest (contracts) to 1,70,021 units. The near month derivatives contract will expire on June 30, 2022.
From the most active contracts, Infosys June 2022 futures traded at a premium of 0.25 points at 1486.25 (LTP) compared with spot closing of 1486.00. The numbers of contracts traded were 45,637.
Reliance Industries June 2022 futures traded at a premium of 6.30 points at 2536.30 (LTP) compared with spot closing of 2530.00. The numbers of contracts traded were 45,363.
HDFC Bank June 2022 futures traded at a discount of 0.55 points at 1349.35 (LTP) compared with spot closing of 1349.90. The numbers of contracts traded were 36,136.
ICICI Bank June 2022 futures traded at a discount of 1.00 points at 711.00 (LTP) compared with spot closing of 712.00. The numbers of contracts traded were 29,031.
TCS June 2022 futures traded at a discount of 2.80 points at 3315.35 (LTP) compared with spot closing of 3318.15. The numbers of contracts traded were 27,537.
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with an addition of 26,555 units open interests. Among Nifty puts, 15700 SP from the June month expiry was the most active put with an addition of 4,944 units open interests. The maximum OI outstanding for Calls was at 16000 SP (1,98,030 units) and that for Puts was at 15000 SP (1,60,533 units). The respective Support and Resistance levels of Nifty are: Resistance 15,924.82 -- Pivot Point 15,817.48 -- Support -- 15,742.87.
The Nifty Put Call Ratio (PCR) finally stood at (0.91) for June month contract. The top five scrips with highest PCR on Hero Motocorp (1.75), Ashok Leyland (1.26), Maruti Suzuki (1.22), Adani Enterprises (1.07) and Shriram Transport Finance Company (1.06).
Among most active underlying, Reliance Industries witnessed an addition of 5,100 units of Open Interest in the June month futures, ICICI Bank witnessed an addition of 235 units of Open Interest in the June month futures, HDFC Bank witnessed a contraction of 1,262 units of Open Interest in the June month futures, Infosys witnessed a contraction of 6,713 units of Open Interest in the June month futures and Maruti Suzuki witnessed an addition of 4,426 units of Open Interest in the June month futures contract (Provisional).
