Nifty ended last trading day of week above half a percent. Market made positive start, as traders took support with the government data showed India's overall exports, merchandise and services combined, rose to $64.91 billion in June 2022, registering a year-on-year growth of 22.95 per cent. For the April-June 2022 period, the overall exports stood at $189.93 billion, exhibiting a positive growth of 25.16 per cent over the same period last year. Further market maintained its gain after bank credit grew by 13.29 per cent to Rs 123.81 lakh crore and deposits by 9.77 per cent to Rs 169.61 lakh crore in the fortnight ended on July 1. Traders took note as the finance ministry has released a paper suggesting changes in the monthly GST payment form and sought industry comments by September 15. In last leg of trade, index added more point to touch intraday high point, as the Ministry of Finance said in its latest Monthly Economic Review report that India's services sector has witnessed a broad-based recovery in sales revenues in both nominal and real terms during the January-March 2022 quarter 2022. The Information technology (IT) companies maintained strong growth while non-IT service companies continued to recover from the slump caused by the lockdown. Finally, Nifty closed the day’s trade near intraday high point.
Most of the sectoral indices ended in red except IT, PSU Bank and Metal. The top gainers from the F&O segment were Syngene International, TVS Motor and BEL. On the other hand, the top losers were Tata Steel, Nippon Life India Asset Management and Jindal Steel & Power. In the index option segment, maximum OI continues to be seen in the 16950 -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 4.04% and reached 17.60. The 50 share Nifty up by 110.55 points or 0.69% to settle at 16,049.20.
Nifty July 2022 futures closed at 16074.00 on Friday, at a premium of 24.80 points over spot closing of 16049.20, while Nifty August 2022 futures ended at 16089.00, at a premium of 39.80 points over spot closing. Nifty July futures saw an addition of 2,354 units, taking the total open interest (OI) to 2,47,681 units. The near month derivatives contract will expire on July 28, 2022.
From the most active contracts, TCS July 2022 futures traded at a premium of 12.45 points at 3010.95 (LTP) compared with spot closing of 2998.50. The numbers of contracts traded were 29,907 (Provisional).
Reliance Industries July 2022 futures traded at a premium of 8.80 points at 2409.95 (LTP) compared with spot closing of 2401.15. The numbers of contracts traded were 27,879 (Provisional).
Tata Steel July 2022 futures traded at a premium of 1.95 points at 886.00 (LTP) compared with spot closing of 884.05. The numbers of contracts traded were 25,837 (Provisional).
HDFC Bank July 2022 futures traded at a premium of 4.95 points at 1368.95 (LTP) compared with spot closing of 1364.00. The numbers of contracts traded were 25,366 (Provisional).
Infosys July 2022 futures traded at a premium of 5.90 points at 1440.75 (LTP) compared with spot closing of 1434.85. The numbers of contracts traded were 20,166 (Provisional).
Among, Nifty calls, 16200 SP from the June month expiry was the most active call with an addition of 2,728 units open interests. Among Nifty puts, 16000 SP from the June month expiry was the most active put with an addition of 10,302 units open interests. The maximum OI outstanding for Calls was at 17000 SP (46,443 units) and that for Puts was at 15000 SP (63,403 units). The respective Support and Resistance levels of Nifty are: Resistance 16,101.67 -- Pivot Point 16,014.48 -- Support -- 15,962.02.
The Nifty Put Call Ratio (PCR) finally stood at (1.22) for June month contract. The top five scrips with highest PCR on ACC (1.57), MRF (1.29), Container Corporation of India (1.21), Kotak Mahindra Bank (1.10) and Maruti Suzuki India (1.08).
Among most active underlying, HDFC Bank witnessed a contraction of 1,051 units of Open Interest in the June month futures, Reliance Industries witnessed a contraction of 1,188 units of Open Interest in the June month futures, TCS witnessed an addition of 996 units of Open Interest in the June month futures, HUL witnessed an addition of 1,669 units of Open Interest in the June month futures and Maruti Suzuki witnessed an addition of 1,884 units of Open Interest in the June month futures contract (Provisional).
