Nifty ends near intraday high point on Thursday

Nifty ended the day’s trade near intraday high point on weekly F&O expiry day. India VIX was down by 5.48%. Market made positive start, as International Monetary Fund's (IMF) Managing Director Kristalina Georgieva said that despite global uncertainty and headwinds, India continues to be a bright spot in the global economy. Further, index added more points after Sanjiv Bajaj, President of industry body CII said India is in a much better position to deal with the challenges related to growth and inflation. In last leg of trade, market touched its intraday high point amid a private report stating that the Indian market has chartered a divergent path with most world markets over the past three months. To illustrate, the benchmark Sensex is up 7 per cent over the past three months even as the MSCI World index has declined 7 per cent. Finally, Nifty closed the day’s trade above 17750 mark.

Most of the sectoral indices ended in green except Media, Metal and Pharma. The top gainers from the F&O segment were Metropolis Healthcare, Shree Cement and JK Cement. On the other hand, the top losers were PEL, ZEEL and Hindalco Industries. 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 decreased by 5.48% and reached 18.31. The 50 share Nifty up by 174.35 points or 0.99% to settle at 17,798.75.

Nifty September 2022 futures closed at 17833.95 (LTP) on Thursday, at a premium of 35.20 points over spot closing of 17798.75, while Nifty October 2022 futures ended at 17882.00 (LTP), at a premium of 83.25 points over spot closing. Nifty September futures saw an addition of 6,369 units, taking the total open interest (Contracts) to 2,62,547 units. The near month derivatives contract will expire on September 29, 2022 (Provisional).

From the most active contracts, Indigo September 2022 futures traded at a premium of 8.70 points at 1955.60 (LTP) compared with spot closing of 1946.90. The numbers of contracts traded were 32,497 (Provisional).

Infosys September 2022 futures traded at a premium of 1.65 points at 1476.70 (LTP) compared with spot closing of 1475.05. The numbers of contracts traded were 22,233 (Provisional).

Axis Bank September 2022 futures traded at a premium of 2.15 points at 783.80 (LTP) compared with spot closing of 781.65. The numbers of contracts traded were 19,587 (Provisional).

HDFC Bank September 2022 futures traded at a premium of 7.10 points at 1503.75 (LTP) compared with spot closing of 1496.65. The numbers of contracts traded were 19,579 (Provisional).

Tata Motors September 2022 futures traded at a premium of 1.20 points at 443.55 (LTP) compared with spot closing of 442.35. The numbers of contracts traded were 19,307 (Provisional).

Among, Nifty calls, 18000 SP from the September month expiry was the most active call with an addition of 3,905 units open interests. Among Nifty puts, 17500 SP from the September month expiry was the most active put with a contraction of 3,797 units open interests. The maximum OI outstanding for Calls was at 18000 SP (47,744 units) and that for Puts was at 16000 SP (82,040 units). The respective Support and Resistance levels of Nifty are: Resistance 17,840.28 -- Pivot Point 17,766.12 -- Support -- 17,724.58.

The Nifty Put Call Ratio (PCR) finally stood at (1.37) for September month contract. The top five scrips with highest PCR on Adani Enterprises (1.10), Bank of Baroda (1.08), Mahindra & Mahindra Fin. Services (1.02), Ashok Leyland (0.93) and RBL Bank (0.90).

Among most active underlying, ICICI Bank witnessed an addition of 2,948 units of Open Interest in the September month futures, Indigo witnessed an addition of 9,541 units of Open Interest in the September month futures, Axis Bank witnessed an addition of 3,830 units of Open Interest in the September month futures, HDFC Bank witnessed an addition of 1,499 units of Open Interest in the September month futures and Adani Ports witnessed an addition of 1,257 units of Open Interest in the September month futures (Provisional).