Nifty closed the day’s trade with gains of above half a percent. Market made cautious start, as data from Reserve Bank showed India Inc's investment in their overseas ventures dropped by 59 per cent on an annual basis to $1.03 billion in August this year. But soon, index entered into green territory with Prime Minister Narendra Modi’s statement that Indian economy is expected to grow by 7.5 per cent this year and it will be the highest among the world's largest economies. He said India is making progress to become a manufacturing hub while highlighting various aspects of the country's economy. Further, market continued its firm trade in afternoon session, as the Monthly Economic Report of the Department of Economic Affairs, Ministry of Finance said India retained its status as an attractive destination among a set of developed and developing economies, as the 5th largest recipient of FDI in the April-June quarter. Finally, Nifty finished the day’s trade above 17600 mark.
All the sectoral indices ended in green except Metal, Realty and Consumer Durables. The top gainers from the F&O segment were India Cements, Ambuja Cements and Escorts Kubota. On the other hand, the top losers were Delta Corp, Gujarat Narmada Valley Fertlzrs&Chms and Can Fin Homes. 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 0.59% and reached 19.94. The 50 share Nifty up by 91.40 points or 0.52% to settle at 17,622.25.
Nifty September 2022 futures closed at 17640.00 (LTP) on Monday, at a premium of 17.75 points over spot closing of 17622.25, while Nifty October 2022 futures ended at 17695.00 (LTP), at a premium of 72.75 points over spot closing. Nifty September futures saw a contraction of 6,314 units, taking the total open interest (contracts) to 2,24,303 units. The near month derivatives contract will expire on September 29, 2022 (Provisional).
From the most active contracts, Ambuja Cements September 2022 futures traded at a discount of 0.45 points at 564.05 (LTP) compared with spot closing of 564.50. The numbers of contracts traded were 49,416 (Provisional).
Infosys September 2022 futures traded at a premium of 0.85 points at 1392.05 (LTP) compared with spot closing of 1391.20. The numbers of contracts traded were 29,969 (Provisional).
Reliance Industries September 2022 futures traded at a premium of 3.45 points at 2505.85 (LTP) compared with spot closing of 2502.40. The numbers of contracts traded were 22,913 (Provisional).
ACC September 2022 futures traded at a premium of 10.50 points at 2650.45 (LTP) compared with spot closing of 2639.95. The numbers of contracts traded were 21,591 (Provisional).
Bajaj Finance September 2022 futures traded at a premium of 7.55 points at 7510.05 (LTP) compared with spot closing of 7502.50. The numbers of contracts traded were 16,498 (Provisional).
Among, Nifty calls, 18000 SP from the September month expiry was the most active call with a contraction of 2,901 units open interests. Among Nifty puts, 17500 SP from the September month expiry was the most active put with an addition of 5,828 units open interests. The maximum OI outstanding for Calls was at 18000 SP (58,409 units) and that for Puts was at 16500 SP (69,869 units). The respective Support and Resistance levels of Nifty are: Resistance 17,716.40 -- Pivot Point 17,573.05 -- Support -- 17,478.90.
The Nifty Put Call Ratio (PCR) finally stood at (1.20) for September month contract. The top five scrips with highest PCR on Adani Enterprises (1.05), RBL Bank (1.03), Bank of Baroda (1.01), Indusind Bank (0.89) and Mahindra & Mahindra Fin. Services (0.89).
Among most active underlying, Ambuja Cements witnessed a contraction of 2,086 units of Open Interest in the September month futures, Adani Enterprises witnessed a contraction of 169 units of Open Interest in the September month futures, ICICI Bank witnessed a contraction of 1,750 units of Open Interest in the September month futures, Bajaj Finance witnessed an addition of 1,030 units of Open Interest in the September month futures and Adani Ports witnessed an addition of 31 units of Open Interest in the September month futures (Provisional).
