Nifty ended the Monday’s session with gains of above half a percent. Market made positive start after India has overtaken the U.K. to become the world's fifth-largest economy and is now behind only the US, China, Japan and Germany. A decade back, India was ranked 11th among the large economies while the U.K. was at the fifth position. Further, market widened its gains, as hoping for a double-digit growth in GDP in this financial year, Union Finance Minister Nirmala Sitharaman said the nation is on a strong wicket when compared to others, and is responsive in terms of extending hand-holding to the required sections. Market continued to trade higher till end after S&P Global in a report said India’s Services PMI rose to 57.2 in August from July’s 4-month low of 55.5, on stronger expansion in new work intakes, upturn in business activity, and the sharpest rise in employment for over 14 years. Finally, Nifty closed the day’s trade above 17650 mark.
All the sectoral indices ended in green. The top gainers from the F&O segment were Exide Industries, Amara Raja Batteries and IDFC First Bank. On the other hand, the top losers were Syngene International, Dr Lal Path Labs and Escorts Kubota. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 15900 -16100 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 0.57% and reached 19.66. The 50 share Nifty up by 126.35 points or 0.72% to settle at 17,665.80.
Nifty September 2022 futures closed at 17704.00 (LTP) on Monday, at a premium of 38.20 points over spot closing of 17665.80, while Nifty October 2022 futures ended at 17754.00 (LTP), at a premium of 88.20 points over spot closing. Nifty September futures saw an addition of 11,116 units, taking the total open interest (Contracts) to 2,66,260 units. The near month derivatives contract will expire on September 29, 2022 (Provisional).
From the most active contracts, Reliance Industries September 2022 futures traded at a premium of 9.85 points at 2583.25 (LTP) compared with spot closing of 2573.40. The numbers of contracts traded were 23,535 (Provisional).
Kotak Mahindra Bank September 2022 futures traded at a premium of 4.00 points at 1944.65 (LTP) compared with spot closing of 1940.65. The numbers of contracts traded were 16,745 (Provisional).
Federal Bank September 2022 futures traded at a premium of 0.10 points at 123.90 (LTP) compared with spot closing of 123.80. The numbers of contracts traded were 15,104 (Provisional).
Adani Enterprises September 2022 futures traded at a discount of 5.05 points at 3356.00 (LTP) compared with spot closing of 3361.05. The numbers of contracts traded were 13,316 (Provisional).
Infosys September 2022 futures traded at a premium of 5.45 points at 1465.15 (LTP) compared with spot closing of 1459.70. The numbers of contracts traded were 10,598 (Provisional).
Among, Nifty calls, 17700 SP from the September month expiry was the most active call with an addition of 956 units open interests. Among Nifty puts, 17500 SP from the September month expiry was the most active put with an addition of 601 units open interests. The maximum OI outstanding for Calls was at 18000 SP (42,748 units) and that for Puts was at 16000 SP (87,968 units). The respective Support and Resistance levels of Nifty are: Resistance 17,719.18 -- Pivot Point 17,629.77 -- Support -- 17,576.38.
The Nifty Put Call Ratio (PCR) finally stood at (1.42) for September month contract. The top five scrips with highest PCR on Ashok Leyland (1.02), Bank of Baroda (0.96), Asian Paints (0.94), Adani Enterprises (0.93) and RBL Bank (0.92).
Among most active underlying, Adani Enterprises witnessed an addition of 1,815 units of Open Interest in the September month futures, Federal Bank witnessed an addition of 701 units of Open Interest in the September month futures, Reliance Industries witnessed a contraction of 4,218 units of Open Interest in the September month futures, Kotak Mahindra Bank witnessed an addition of 2,162 units of Open Interest in the September month futures and ICICI Bank witnessed an addition of 575 units of Open Interest in the September month futures (provisional).
