Nifty gave powerful performance by surging over one and half a percent on Thursday ahead of monthly F&O expiry. Market made positive start, as the Reserve Bank of India (RBI) report showed that digital payments across the country registered a growth of nearly 29 per cent in a year through March 2022. The RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 against 270.59 in March 2021. Further, index added more gains after Ministry of Commerce & Industry stated that the overall (merchandise plus services) exports increased from USD 52.8 billion in June 2021 to USD 64.9 billion in June 2022. The overall (merchandise plus services) imports increased from USD 52.9 billion in June 2021 to USD 82.4 billion in June 2022. Index continued to trade with hefty gains till the end after the Ministry of Commerce & Industry in its latest report showed that Singapore (27.01%) and USA (17.94%) have emerged as top 2 sourcing nations in FDI equity flows into India in FY2021-22 followed by Mauritius (15.98%), Netherland (7.86%) and Switzerland (7.31%). Finally, Nifty closed the day’s trade above 16900 mark.
All the sectoral indices ended in green. The top gainers from the F&O segment were Indiabulls Housing Finance, Bajaj Finance and Bajaj Finserv. On the other hand, the top losers were Dixon Technologies, Biocon and Tata Steel. In the index option segment, maximum OI continues to be seen in the 16950 -17200 calls and 15950 -16150 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 6.16% and reached 17.01. The 50 share Nifty up by 287.80 points or 1.73% to settle at 16,929.60.
Nifty August 2022 futures closed at 16953.95 (LTP) on Thursday, at a premium of 24.35 points over spot closing of 16929.60, while Nifty September 2022 futures ended at 17000.00 (LTP), at a premium of 70.40 points over spot closing. Nifty August futures saw an addition of 66,104 units, taking the total open interest (Contracts) to 1,84,645 units. The near month derivatives contract will expire on August 25, 2022 (Provisional).
From the most active contracts, Reliance Industries August 2022 futures traded at a premium of 3.40 points at 2457.00 (LTP) compared with spot closing of 2453.60. The numbers of contracts traded were 71,258 (Provisional).
Infosys August 2022 futures traded at a premium of 5.85 points at 1523.05 (LTP) compared with spot closing of 1517.20. The numbers of contracts traded were 62,411 (Provisional).
Bajaj Finance August 2022 futures traded at a premium of 40.50 points at 7106.00 (LTP) compared with spot closing of 7065.50. The numbers of contracts traded were 50,537 (Provisional).
Tata Motors August 2022 futures traded at a premium of 2.35 points at 444.90 (LTP) compared with spot closing of 442.55. The numbers of contracts traded were 45,233 (Provisional).
Tata Steel August 2022 futures traded at a premium of 0.40 points at 100.60 (LTP) compared with spot closing of 100.20. The numbers of contracts traded were 43,344 (Provisional).
Among, Nifty calls, 17000 SP from the August month expiry was the most active call with an addition of 5,764 units open interests. Among Nifty puts, 16500 SP from the August month expiry was the most active put with an addition of 3,242 units open interests. The maximum OI outstanding for Calls was at 17000 SP (31,647 units) and that for Puts was at 16000 SP (42,415 units). The respective Support and Resistance levels of Nifty are: Resistance 17,002.75 -- Pivot Point 16,874.50 -- Support -- 16,801.35.
The Nifty Put Call Ratio (PCR) finally stood at (1.50) for August month contract. The top five scrips with highest PCR on Asian Paints (1.28), Glenmark Pharmaceuticals (1.15), Mahanagar Gas (1.11), Bajaj Finance (0.98) and SBIN (0.91).
Among most active underlying, Bajaj Finance witnessed an addition of 6,452 units of Open Interest in the August month futures, Reliance Industries witnessed an addition of 25,253 units of Open Interest in the August month futures, Tata Motors witnessed an addition of 13,337 units of Open Interest in the August month futures, Infosys witnessed an addition of 17,941 units of Open Interest in the August month futures and HDFC Bank witnessed an addition of 12,038 units of Open Interest in the August month futures (Provisional).
