S&P CNX -- Nifty managed to end the Thursday’s session above neutral line. India VIX was down by 1.85%. Market started day on negative note, as former deputy chairman of the erstwhile Planning Commission Montek Singh Ahluwalia said it would be unrealistic to assume that India would record a sustained growth of 8 per cent, which is needed to become a developed nation by 2047. Further, index extended its below neutral line trade after private report stated that India’s economy grew at a slower pace than the monetary policy committee's (MPC’s) projection of 16.2 per cent in the first quarter of financial year 2022-23 (Q1FY23). Their projections range between 14.5 per cent and 16 per cent. However, in late afternoon session, index trimmed most of its losses to end the session marginally higher. Traders took support after the ministry of statistics and programme implementation in its final Annual Survey of Industries (ASI) said manufacturing sector investments grew 20.9% in 2019-20 over the previous fiscal.
Traders were seen piling up positions in Realty, Metal and FMCG stocks, while selling was witnessed in IT, Auto and Pharma. The top gainers from the F&O segment were IRCTC, The India Cements and Adani Enterprises. On the other hand, the top losers were SBI Card, IEX and ONGC. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 16900 -17100 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 1.85% and reached 17.35. The 50 share Nifty up by 12.25 points or 0.07% to settle at 17,956.50.
Nifty August 2022 futures closed at 18000.95 on Thursday, at a premium of 44.45 points over spot closing of 17956.50, while Nifty September 2022 futures ended at 18082.00, at a premium of 125.50 points over spot closing. Nifty August futures saw an addition of 3,824 units, taking the total open interest (Contracts) to 2,29,270 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 4.75 points at 2666.75 (LTP) compared with spot closing of 2662.00. The numbers of contracts traded were 26,348 (provisional).
IRCTC August 2022 futures traded at a premium of 2.00 points at 725.00 (LTP) compared with spot closing of 723.00. The numbers of contracts traded were 21,260 (provisional).
Infosys August 2022 futures traded at a premium of 2.85 points at 1587.85 (LTP) compared with spot closing of 1585.00. The numbers of contracts traded were 21,163 (provisional).
Adani Enterprises August 2022 futures traded at a premium of 4.00 points at 3161.75 (LTP) compared with spot closing of 3157.75. The numbers of contracts traded were 21,081 (provisional).
HDFC Bank August 2022 futures traded at a premium of 4.25 points at 1515.25 (LTP) compared with spot closing of 1511.00. The numbers of contracts traded were 19,162 (provisional).
Among, Nifty calls, 18000 SP from the August month expiry was the most active call with an addition of 62,413 units open interests. Among Nifty puts, 17000 SP from the August month expiry was the most active put with an addition of 72,314 units open interests. The maximum OI outstanding for Calls was at 18000 SP (1,30,337 units) and that for Puts was at 17000 SP (1,17,981 units). The respective Support and Resistance levels of Nifty are: Resistance 17,999.28 -- Pivot Point 17,925.67 -- Support -- 17,882.88.
The Nifty Put Call Ratio (PCR) finally stood at (1.20) for August month contract. The top five scrips with highest PCR on Asian Paints (1.43), Lupin (1.40), ICICI Bank (1.26), Eicher Motors (1.25) and Apollo Tyres (1.21).
Among most active underlying, Adani Enterprises witnessed an addition of 839 units of Open Interest in the August month futures, ICICI Bank witnessed an addition of 2,052 units of Open Interest in the August month futures, Reliance Industries witnessed an addition of 2,977 units of Open Interest in the August month futures, HDFC Bank witnessed a contraction of 15 units of Open Interest in the August month futures and Kotak Mahindra Bank witnessed a contraction of 1,333 units of Open Interest in the August month futures (Provisional).
