S&P CNX --Nifty ended the session in red zone on Wednesday. Market started day on pessimistic note after Foreign institutional investors (FIIs) sold shares worth a net Rs 1,244.44 crore on June 28. Index extended its weak trade till the end of the day, with a private report that after a gap, the prices of select varieties of pulses have started rising for the past few days due to a delay in the onset of the southwest monsoon over major growing regions of Madhya Pradesh, Maharashtra, and Gujarat.
In late afternoon session, index trimmed most of its losses but continued to trade below neutral line after the Reserve Bank of India (RBI) in its latest data has showed that the growth in Scheduled Commercial Banks (SCBs) deposits moderated to 10 per cent year-on-year in March 2022, compared to an increase of 11.9 per cent a year ago. During 2021-2022, current, savings and term deposits rose by 10.9 per cent, 13.3 per cent and 7.9 per cent, respectively. Finally, Nifty closed the session below 15800 mark.
Most of the sectoral indices ended in red except Auto, Metal and Realty. The top gainers from the F&O segment were Bosch, Abbott India and Trent. On the other hand, the top losers were RBL Bank, Escorts and MFSL. 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 2.09% and reached 21.90. The 50 share Nifty down by 51.10 points or 0.32% to settle at 15,799.10.
Nifty June 2022 futures closed at 15765.20 (LTP) on Wednesday, at a discount of 33.90 points over spot closing of 15799.10, while Nifty July 2022 futures ended at 15769.95 (LTP), at a discount of 29.15 points over spot closing. Nifty June futures saw a contraction of 18,997 units, taking the total open interest (Contracts) to 1,36,910 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 discount of 3.70 points at 2572.30 (LTP) compared with spot closing of 2576.00. The numbers of contracts traded were 52,188 (Provisional).
Infosys June 2022 futures traded at a premium of 1.30 points at 1465.30 (LTP) compared with spot closing of 1464.00. The numbers of contracts traded were 30,118 (Provisional).
HDFC Bank June 2022 futures traded at a discount of 1.85 points at 1341.95 (LTP) compared with spot closing of 1343.80. The numbers of contracts traded were 29,489 (Provisional).
ONGC June 2022 futures traded at a discount of 1.10 points at 152.50 (LTP) compared with spot closing of 153.60. The numbers of contracts traded were 27,233 (Provisional).
TCS June 2022 futures traded at a premium of 5.55 points at 3292.55 (LTP) compared with spot closing of 3287.00. The numbers of contracts traded were 24,527 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with an addition of 45,357 units open interests. Among Nifty puts, 15700 SP from the June month expiry was the most active put with an addition of 38,127 units open interests. The maximum OI outstanding for Calls was at 16000 SP (2,32,973 units) and that for Puts was at 15000 SP (1,54,990 units). The respective Support and Resistance levels of Nifty are: Resistance 15,877.87 -- Pivot Point 15,782.83 -- Support -- 15,704.07.
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 (1.87), Trent (1.30), Ashok Leyland (1.16), Maruti Suzuki (1.13) and Adani Enterprises (1.11).
Among most active underlying, Reliance Industries witnessed a contraction of 957 units of Open Interest in the June month futures, HDFC Bank witnessed a contraction of 719 units of Open Interest in the June month futures, ONGC witnessed an addition of 5,957 units of Open Interest in the June month futures, ICICI Bank witnessed an addition of 69 units of Open Interest in the June month futures and Adani Enterprises witnessed an addition of 352 units of Open Interest in the June month futures contract (Provisional).
