S&P CNX – Nifty ended last trading day of week marginally lower. India VIX was down by 2.70%. Market made negative start, as traders were cautious with the latest public debt management report showing that the government’s total liabilities rose 3.74 per cent to Rs 133.22 lakh crore in the March quarter from Rs 128.41 lakh crore in the three months ended December 2021. Besides, Reserve Bank said India's external debt increased by $47.1 billion to $620.7 billion in the financial year ended March 2022. Further, index extended its southward journey, as government slapped Rs 6 per litre tax on exports of petrol and ATF and Rs 13 per litre on exports of diesel. The government also slapped Rs 23,230 per tonne additional tax on domestically produced crude oil to take away windfall gains accruing to producers from high international oil prices.
Market continued to trade in red, as Indian manufacturing activity eased in the month of June, as growth of total sales and production eased amid intense price pressures. According to the report, the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) fell to 53.9 in June from 54.6 in May. But, in last leg of trade, index trimmed most of its losses with a report that the growth of eight core infrastructure industries grew to 13-month high of 18.1 per cent in May 2022, led by healthy growth in coal, crude oil, fertilisers, cement and electricity production. Finally, Nifty closed the day’s trade below neutral line.
Most of the sectoral indices ended in green except Oil & Gas. The top gainers from the F&O segment were Muthoot Finance, Jubilant FoodWorks and Hindustan Petroleum Corporation. On the other hand, the top losers were Vedanta, Reliance Industries and ONGC. 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 decreased by 2.70% and reached 21.25. The 50 share Nifty down by 28.20 points or 0.18% to settle at 15,752.05.
Nifty July 2022 futures closed at 15774.00 (LTP) on Friday, at a premium of 21.95 points over spot closing of 15752.05, while Nifty August 2022 futures ended at 15805.00 (LTP), at a premium of 52.95 points over spot closing. Nifty July futures saw an addition of 20,961 units, taking the total open interest (contracts) to 2,46,742 units. The near month derivatives contract will expire on July 28, 2022 (Provisional).
From the most active contracts, Reliance Industries July 2022 futures traded at a premium of 2.75 points at 2408.75 (LTP) compared with spot closing of 2406.00. The numbers of contracts traded were 2,18,344 (Provisional).
ONGC July 2022 futures traded at a discount of 0.85 points at 130.55 (LTP) compared with spot closing of 131.40. The numbers of contracts traded were 32,225 (Provisional).
Vedanta July 2022 futures traded at a premium of 0.20 points at 213.90 (LTP) compared with spot closing of 213.70. The numbers of contracts traded were 27,274 (Provisional).
Infosys July 2022 futures traded at a premium of 3.95 points at 1484.95 (LTP) compared with spot closing of 1481.00. The numbers of contracts traded were 22,486 (Provisional).
HDFC Bank July 2022 futures traded at a premium of 5.10 points at 1360.05 (LTP) compared with spot closing of 1354.95. The numbers of contracts traded were 21,420 (Provisional).
Among, Nifty calls, 16000 SP from the July month expiry was the most active call with an addition of 4,040 units open interests. Among Nifty puts, 15500 SP from the July month expiry was the most active put with an addition of 5,479 units open interests. The maximum OI outstanding for Calls was at 17000 SP (45,016 units) and that for Puts was at 15000 SP (60,724 units). The respective Support and Resistance levels of Nifty are: Resistance 15,860.32 -- Pivot Point 15,685.68 -- Support -- 15,577.42.
The Nifty Put Call Ratio (PCR) finally stood at (1.27) for July month contract. The top five scrips with highest PCR on ABC Capital (1.47), RBL Bank (1.44), ACC (1.21), Indusind Bank (1.09) and Glenmark Pharmaceuticals (1.08).
Among most active underlying, Reliance Industries witnessed an addition of 34,317 units of Open Interest in the July month futures, ONGC witnessed an addition of 7,627 units of Open Interest in the July month futures, ITC witnessed an addition of 1,649 units of Open Interest in the July month futures, HDFC Bank witnessed an addition of 1,657 units of Open Interest in the July month futures and ICICI Bank witnessed an addition of 3,748 units of Open Interest in the July month futures contract (Provisional).
