S&P CNX Nifty finished Monday’s session near intraday highpoint. Market made a negative start, as traders were cautious with continued FIIs selling. In June, FPIs sold equity worth Rs 50,145 crore through the stock market, taking the total FPI selling in CY 22 to Rs 2,23,944 crore. Further, index continued its trade below neutral line with a private report stating that about 10 states in India have detected a new sub-variant of Omicron BA.2.75, which may be alarming in nature. However, in late morning trade, index entered into positive territory, as the gross Goods and Services Tax (GST) revenue collection in the month of June 2022 increased by 55.84% to Rs 144,616 crore as compared to Rs 92,800 crore in the same month last year.
Market maintained its gains, as India's foreign exchange reserves rose by $2.734 billion to $593.323 billion during the week that ended on June 24. In last leg of trade, market added more points to touch intraday high point with reports that the windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue that the government lost when it cut excise duty on petrol and diesel to cool soaring inflation. Finally, Nifty closed the day’s trade above 15800 mark.
Most of the sectoral indices ended in green except Auto, IT and Metal. The top gainers from the F&O segment were IDFC First Bank, Siemens and Godrej Consumer Products. On the other hand, the top losers were AU Small Finance Bank, ONGC and JSW Steel. In the index option segment, maximum OI continues to be seen in the 16300 -16700 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 1.30% and reached 20.97. The 50 share Nifty up by 83.30 points or 0.53% to settle at 15,835.35.
Nifty July 2022 futures closed at 15831.30 (LTP) on Monday, at a discount of 4.05 points over spot closing of 15835.35, while Nifty August 2022 futures ended at 15857.20 (LTP), at a premium of 21.85 points over spot closing. Nifty July futures saw an addition of 19,615 units, taking the total outstanding open interest (contracts) to 2,55,400 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 7.00 points at 2420.00 (LTP) compared with spot closing of 2413.00. The numbers of contracts traded were 76,616 (Provisional).
TCS July 2022 futures traded at a premium of 1.30 points at 3236.00 (LTP) compared with spot closing of 3234.70. The numbers of contracts traded were 24,375 (Provisional).
Tata Steel July 2022 futures traded at a premium of 3.10 points at 858.00 (LTP) compared with spot closing of 854.90. The numbers of contracts traded were 24,255 (Provisional).
Infosys July 2022 futures traded at a premium of 1.55 points at 1488.15 (LTP) compared with spot closing of 1486.60. The numbers of contracts traded were 19,817(Provisional).
ITC July 2022 futures traded at a discount of 0.60 points at 290.90 (LTP) compared with spot closing of 291.50. The numbers of contracts traded were 15,554 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with an addition of 1,590 units open interests. Among Nifty puts, 15700 SP from the June month expiry was the most active put with an addition of 9,164 units open interests. The maximum OI outstanding for Calls was at 16500 SP (50,142 units) and that for Puts was at 15000 SP (67,463 units). The respective Support and Resistance levels of Nifty are: Resistance 15,904.53 -- Pivot Point 15,783.17 -- Support -- 15,713.98.
The Nifty Put Call Ratio (PCR) finally stood at (1.24) for June month contract. The top five scrips with highest PCR on ACC (1.58), ABC Capital (1.36), RBL Bank (1.33), Atul (1.26) and Glenmark Pharmaceuticals (0.97).
Among most active underlying, Reliance Industries witnessed an addition of 4,928 units of Open Interest in the June month futures, ITC witnessed an addition of 3,310 units of Open Interest in the June month futures, TCS witnessed an addition of 9,186 units of Open Interest in the June month futures, ICICI Bank witnessed an addition of 1,458 units of Open Interest in the June month futures and HDFC Bank witnessed an addition of 2,625 units of Open Interest in the June month futures contract (Provisional).
