Nifty ended the day’s trade near intraday low point on Tuesday. Market made negative start, as Crisil Research said that India Inc is staring at the third consecutive quarter of a year-on-year drop in profit margins for the April-June 2022 period. Besides, private report stated that private equity investments into domestic companies fell 17 per cent to $6.72 billion on an annual basis in the June quarter. Further, index continued its weak trade with private report stated that India's inflation will hold above the top of the central bank's tolerance band for at least the rest of 2022, longer than previously thought, making several more interest rate hikes in coming months all but inevitable. In last leg of trade, market extended its losses to touch intraday low point, as fresh COVID-19 outbreak in China added to worries about a global economic slowdown. Finally, Nifty closed the session below 16075 mark.
Most of the sectoral indices ended in red except Realty. The top gainers from the F&O segment were Indus Towers, DIXON and Bandhan Bank. On the other hand, the top losers were Hindustan Petroleum Corporation, REC and NMDC. In the index option segment, maximum OI continues to be seen in the 16400 -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 increased by 0.97% and reached 18.55. The 50 share Nifty down by 157.70 points or 0.97% to settle at 16,058.30.
Nifty July 2022 futures closed at 16030.00 (LTP) on Tuesday, at a discount of 28.30 points over spot closing of 16058.30, while Nifty August 2022 futures ended at 16056.60 (LTP), at a discount of 1.70 points over spot closing. Nifty July futures saw a contraction of 15,609 units, taking the total open interest (Contracts) to 2,52,320 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 0.35 points at 2419.15 (LTP) compared with spot closing of 2418.80. The numbers of contracts traded were 29,238 (Provisional).
Tata Steel July 2022 futures traded at a premium of 1.05 points at 903.05 (LTP) compared with spot closing of 902.00. The numbers of contracts traded were 26,360 (Provisional).
TCS July 2022 futures traded at a discount of 0.55 points at 3083.95 (LTP) compared with spot closing of 3084.50. The numbers of contracts traded were 23,534 (Provisional).
Infosys July 2022 futures traded at a premium of 3.95 points at 1441.00 (LTP) compared with spot closing of 1437.05. The numbers of contracts traded were 20,984 (Provisional).
Vedanta July 2022 futures traded at a discount of 0.15 points at 230.10 (LTP) compared with spot closing of 230.25. The numbers of contracts traded were 15,253 (Provisional).
Among, Nifty calls, 16100 SP from the June month expiry was the most active call with an addition of 5,705 units open interests. Among Nifty puts, 16000 SP from the June month expiry was the most active put with an addition of 3,556 units open interests. The maximum OI outstanding for Calls was at 16500 SP (47,850 units) and that for Puts was at 15000 SP (58,394 units). The respective Support and Resistance levels of Nifty are: Resistance 16,134.32 -- Pivot Point 16,082.73 -- Support -- 16,006.72.
The Nifty Put Call Ratio (PCR) finally stood at (1.21) for June month contract. The top five scrips with highest PCR on ACC (1.75), RBL Bank (1.23), Canara Bank (1.20), Aurobindo Pharma (0.99) and Kotak Mahindra Bank (0.98).
Among most active underlying, Reliance Industries witnessed an addition of 1,977 units of Open Interest in the June month futures, ICICI Bank witnessed an addition of 1,345 units of Open Interest in the June month futures contract, TCS witnessed an addition of 4,758 units of Open Interest in the June month futures, Tata Steel witnessed an addition of 2,061 units of Open Interest in the June month futures and Bajaj Finance witnessed an addition of 1,213 units of Open Interest in the June month futures contract (Provisional).
