Nifty ends lower with marginal loss

S&P CNX Nifty ended lower after a volatile trading session on Thursday amid profit booking in selected mid-cap and small-cap stocks. On global front, Asian market ended on positive note as stronger-than-expected Chinese trade data led to positive momentum of Asian pacific shares. Moreover, European markets saw modest early gains on Thursday after more evidence of improving economic conditions in China, though investors were cautious before a policy decision from the European Central Bank later in the day.

Back home, buoyed by firm global cues, Indian equity market made a positive start, hovering near its psychological 6,000 mark with some support coming from PSU oil marketing companies, whose stocks edged higher on hopes of fuel price hike by the government to reduce mounting subsidy burden. Further, investors remained caution ahead of the key Infosys' Oct-Dec results on Jan 11, which is likely to set mood for the overall earning season. Market continued its positive trade in the first half as sentiment was also boosted by data showing that foreign funds remained buyers of Indian stocks on January 9, 2013. Foreign institutional investors (FIIs) bought shares worth a net Rs 848.95 crore on January 9. However, in second half, market gave up all morning gains and slipped into negative territory with sentiment taking a hit with report, which stated HSBC slashing India GDP forecast further for FY13, FY14. Profit-booking in pharma, MNC and infra stocks also weighed on the sentiments. Finally, Nifty ended the session with marginal loss. 

Meanwhile, most of the sectoral indices on the NSE made a mixed closing. CNX Media up by 0.44%, CNX Auto up by 0.39%, CNX Finance up by 0.31%, CNX PSE and PSU Bank both up by 0.29% remained the top gainers in the trade. While CNX Pharma down 0.85%, CNX MNC and Infra both down 0.67%, CNX IT down 0.46% and CNX Metal down 0.43% remained the losers. The India Volatility Index (VIX), a gauge for market’s short term expectation of volatility, down by 0.38% and reached 13.27. 

The India VIX witnessed contraction of 0.38% at 13.37 as compared to its previous close of at 13.32 on Wednesday.

The 50-share S&P CNX Nifty lost 2.85 points or 0.05% to settle at 5,968.65.

Nifty January 2013 futures closed at 6,003.60 on Thursday at a premium of 34.95 points over spot closing of 5,968.65, while Nifty February 2013 futures ended at 6,041.75, at a premium of 73.10 points over spot closing. Nifty January futures saw an addition of 0.60 million (mn) taking the total outstanding open interest (OI) to 16.11 mn units. The near month January 2013 derivatives contract will expire on January 31, 2013.

From the most active contracts, Unitech January 2013 futures were trading at a premium of 0.40 at 39.15 compared with spot closing of 38.75. The number of contracts traded was 12,352.

Reliance Communications January 2013 futures were at a premium of 0.80 at 83.30 compared with spot closing of 82.50. The number of contracts traded was 10,540.

Tata Motors January 2013 futures were at a premium of 1.35 point at 335.15 compared with spot closing of 333.80. The number of contracts traded was 15,118.

Tata Steel January 2013 futures were at a premium of 4.35 point at 423.90 compared with spot closing of 419.55. The number of contracts traded was 10,922.

ONGC January 2013 futures were at a premium of 0.65 point at 303.65 compared with spot closing of 303.00. The number of contracts traded was 11,199.

 Among Nifty calls, 6,200 SP from the January month expiry was the most active call with contraction of 0.38 million open interest.

Among Nifty puts, 5,800 SP from the January month expiry was the most active put with an addition  of 0.45 million open interest.

The maximum OI outstanding for Calls was at 6200 SP (8.00mn) and that for Puts was at 5800 SP (7.60 mn).

The respective Support and Resistance levels are: Resistance 6000.1 -- Pivot Point 5973.7 -- Support 5942.25.

The Nifty Put Call Ratio (PCR) OI wise stood at 1.26 for January -month contract.

The top five scrips with highest PCR on OI were Welcorp 5.00, GUJ Fluoro 2.28, Tata Motors 1.44, Infosys 1.32, and Bharti Airtel 1.26.

Among most active underlying, NHPC witnessed an addition of 2.58 million of Open Interest in the January month futures contract followed by Unitech which witnessed an addition of 1.29 million of Open Interest in the near month contract. Meanwhile, Jaiprakash Associates witnessed of an addition of 0.72 million in the January month futures. Also, RCOM witnessed an addition of 0.04 million in Open Interest in the January month contract. Finally, R Power witnessed an addition of 0.10 million of Open Interest in the near month futures contract.