Nifty extended its gains for third straight session and closed the day’s trade with the gain of above half a percent. India VIX was up by 1.24%. Market made positive start, as India's merchandise exports are expected to grow by 11.4 per cent to hit $114.4 billion during the July-September quarter of the current financial year. Also, strong FIIs' flow supported the Indian markets. Further, index enlarged its gains toward upward direction, as Finance Ministry said the provisional gross direct tax collections for FY23 till September 8 stood at Rs 6.48 trillion, which is 35.5 per cent higher than the same period last year. Market continued its firm trade till the end, as Union Minister for Commerce and Industry Piyush Goyal said assessing the impact of the foundational changes and structural transformation that has happened in the last few years, the Confederation of Indian Industry (CII) estimated that India in 2047 will be a $35-45 trillion economy, taking the country into the league of developed nations. Finally, Nifty ended the session above 17925 mark.
All the sectoral indices ended in green. The top gainers from the F&O segment were Hindustan Aeronautics, Navin Fluorine International and Deepak Nitrite. On the other hand, the top losers were Astral, Coal India and Indiabulls Housing Finance. 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 1.24% and reached 17.94. The 50 share Nifty up by 103.00 points or 0.58% to settle at 17,936.35.
Nifty September 2022 futures closed at 17953.40 (LTP) on Monday, at a premium of 17.05 points over spot closing of 17936.35, while Nifty October 2022 futures ended at 18007.00 (LTP), at a premium of 70.65 points over spot closing. Nifty September futures saw an addition of 8,859 units, taking the total open interest (Contracts) to 2,60,182 units. The near month derivatives contract will expire on September 29, 2022 (Provisional).
From the most active contracts, Infosys September 2022 futures traded at a discount of 0.80 points at 1533.60 (LTP) compared with spot closing of 1534.40. The numbers of contracts traded were 29,200 (Provisional).
Reliance Industries September 2022 futures traded at a premium of 7.85 points at 2605.45 (LTP) compared with spot closing of 2597.60. The numbers of contracts traded were 26,391 (Provisional).
Adani Ports September 2022 futures traded at a premium of 1.75 points at 942.75 (LTP) compared with spot closing of 941.00. The numbers of contracts traded were 18,582 (Provisional).
TCS September 2022 futures traded at a premium of 12.00 points at 3250.00 (LTP) compared with spot closing of 3238.00. The numbers of contracts traded were 16,662 (Provisional).
ACC September 2022 futures traded at a premium of 11.05 points at 2522.05 (LTP) compared with spot closing of 2511.00. The numbers of contracts traded were 16,529 (Provisional).
Among, Nifty calls, 18000 SP from the September month expiry was the most active call with an addition of 1,632 units open interests. Among Nifty puts, 17900 SP from the September month expiry was the most active put with an addition of 6,684 units open interests. The maximum OI outstanding for Calls was at 18000 SP (53,377 units) and that for Puts was at 16000 SP (68,938 units). The respective Support and Resistance levels of Nifty are: Resistance 17,981.55 -- Pivot Point 17,935.35 -- Support -- 17,890.15.
The Nifty Put Call Ratio (PCR) finally stood at (1.33) for September month contract. The top five scrips with highest PCR on Bank of Baroda (1.12), Adani Enterprises (1.11), Mahindra & Mahindra Fin. Services (1.11), RBL Bank (1.03) and Ashok Leyland (0.99).
Among most active underlying, Adani Ports witnessed an addition of 1,269 units of Open Interest in the September month futures, Reliance Industries witnessed a contraction of 1,282 units of Open Interest in the September month futures, Axis Bank witnessed an addition of 3,233 units of Open Interest in the September month futures, Hindustan Aeronautics witnessed an addition of 1,167 units of Open Interest in the September month futures and Infosys witnessed an addition of 4,049 units of Open Interest in the September month futures (Provisional).
