After making positive start, S&P CNX -- Nifty closed the weekly F&O expiry day below 17900 mark. India VIX was up by 18.39%. Market made positive start with revenue secretary Tarun Bajaj’s statement that he expects GST collection to top the Rs 1.5-lakh-crore-mark from October. Bajaj said ‘for the last couple of months, we’ve been trying very hard to reach that milestone of Rs 1.5 trillion (lakh crore). But, index failed to continue its positive trade and slipped into red zone with report that Fitch expects the Indian economy to slow down and said in a statement that it would cut the country’s gross domestic product growth forecast for the current fiscal year through March 2023 to 7% from 7.8%. It also projected a further slowdown in growth to 6.7% in FY24 from its earlier estimate of 7.4%. Further, index extended its downward trade till end, as Apex body for exporters Federation of Indian Export Organisations (FIEO) stating that with global trade facing headwinds due to the ongoing conflict between Russia and Ukraine. Finally, Nifty closed the day’s trade with the cut of above half a percent.
Most of the sectoral indices ended in red except Auto and Metal. The top gainers from the F&O segment were MRF, Apollo Tyres and Delta Corp. On the other hand, the top losers were National Aluminium Company, PVR and BHEL. In the index option segment, maximum OI continues to be seen in the 17950 -18100 calls and 16400 -16700 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 0.62% and reached 18.39. The 50 share Nifty down by 126.35 points or 0.70% to settle at 17,877.40.
Nifty September 2022 futures closed at 17889.50 (LTP) on Thursday, at a premium of 12.10 points over spot closing of 17877.40, while Nifty October 2022 futures ended at 17942.05 (LTP), at a premium of 64.65 points over spot closing. Nifty September futures saw an addition of 13,175 units, taking the total open interest (Contracts) to 2,62,838 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 premium of 3.00 points at 1435.00 (LTP) compared with spot closing of 1432.00. The numbers of contracts traded were 50,798 (Provisional).
Vedanta September 2022 futures traded at a discount of 0.10 points at 313.35 (LTP) compared with spot closing of 313.45. The numbers of contracts traded were 40,325 (Provisional).
Ambuja Cements September 2022 futures traded at a premium of 2.30 points at 537.50 (LTP) compared with spot closing of 535.20. The numbers of contracts traded were 28,079 (Provisional).
Reliance Industries September 2022 futures traded at a premium of 4.25 points at 2567.25 (LTP) compared with spot closing of 2563.00. The numbers of contracts traded were 24,855 (Provisional).
Maruti Suzuki India September 2022 futures traded at a premium of 24.00 points at 9240.00 (LTP) compared with spot closing of 9216.00. The numbers of contracts traded were 23,108 (Provisional).
Among, Nifty calls, 18000 SP from the September month expiry was the most active call with an addition of 4,576 units open interests. Among Nifty puts, 17900 SP from the September month expiry was the most active put with an addition of 6,009 units open interests. The maximum OI outstanding for Calls was at 18000 SP (65,264 units) and that for Puts was at 16500 SP (65,593 units). The respective Support and Resistance levels of Nifty are: Resistance 18,028.53 -- Pivot Point 17,945.02 -- Support --17,793.88.
The Nifty Put Call Ratio (PCR) finally stood at (1.25) for September month contract. The top five scrips with highest PCR on Adani Enterprises (1.29), Bank of Baroda (1.11), Mahindra & Mahindra Fin. Services (1.08), RBL Bank (1.04) and SBIN (0.95).
Among most active underlying, Adani Enterprises witnessed an addition of 59 units of Open Interest in the September month futures, Ambuja Cements witnessed an addition of 4,003 units of Open Interest in the September month futures, ICICI Bank witnessed an addition of 2,843 units of Open Interest in the September month futures, Infosys witnessed an addition of 18,319 units of Open Interest in the September month futures and Maruti Suzuki witnessed an addition of 1,227 units of Open Interest in the September month futures (Provisional).
