Nifty ended last trading day of week near intraday low point. Market made negative start with ASSOCHAM’s statement that India Inc is bracing itself for yet another policy rate hike by the RBI Monetary Policy Committee in the range of 35-50 basis points as the move seems unavoidable in the wake of the global monetary tightening to limit the impact of inflation. Further, index extended its losses after Russian President Vladimir Putin signaled annexation of parts of Ukraine adding to geopolitical concerns. Market continued its dull trade even after Union Finance Minister Nirmala Sitharaman’s statement that the government was making efforts to keep inflation under 4 per cent and steps were being taken to ensure people get essential goods at fair price and on time. In late afternoon session, index touched its intraday low point amidst unpleasant economic outlook and a surging dollar. Finally, Nifty closed the day’s trade below 17350 mark.
All the sectoral indices ended in red. The top gainers from the F&O segment were Dr Lal Path Labs, Divi's Laboratories and Ambuja Cements. On the other hand, the top losers were PNB, Power Grid Corporation and Mahindra & Mahindra Fin. Services. In the index option segment, maximum OI continues to be seen in the 17950 -18100 calls and 17400 -17600 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 9.44% and reached 20.59. The 50 share Nifty down by 302.45 points or 1.72% to settle at 17,327.35.
Nifty September 2022 futures closed at 17335.15 (LTP) on Friday, at a premium of 7.80 points over spot closing of 17327.35, while Nifty October 2022 futures ended at 17395.00 (LTP), at a premium of 67.65 points over spot closing. Nifty September futures saw an addition of 23,787 units, taking the total open interest (contracts) to 2,41,823 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 2.10 points at 1370.05 (LTP) compared with spot closing of 1367.95. The numbers of contracts traded were 46,749 (Provisional).
Reliance Industries September 2022 futures traded at a premium of 4.00 points at 2442.80 (LTP) compared with spot closing of 2438.80. The numbers of contracts traded were 30,377 (Provisional).
HDFC Bank September 2022 futures traded at a premium of 2.05 points at 1449.05 (LTP) compared with spot closing of 1447.00. The numbers of contracts traded were 27,261 (Provisional).
ICICI Bank September 2022 futures traded at a premium of 0.25 points at 884.15 (LTP) compared with spot closing of 883.90. The numbers of contracts traded were 20,756 (Provisional).
ZEEL September 2022 futures traded at a discount of 0.10 points at 259.40 (LTP) compared with spot closing of 259.50. The numbers of contracts traded were 17,858 (Provisional).
Among, Nifty calls, 17500 SP from the September month expiry was the most active call with an addition of 94,494 units open interests. Among Nifty puts, 17300 SP from the September month expiry was the most active put with an addition of 27,532 units open interests. The maximum OI outstanding for Calls was at 19000 SP (1,48,631units) and that for Puts was at 16000 SP (1,15,971 units). The respective Support and Resistance levels of Nifty are: Resistance 17,549.12 -- Pivot Point 17,420.3-- Support -- 17,198.62.
The Nifty Put Call Ratio (PCR) finally stood at (0.63) for September month contract. The top five scrips with highest PCR on RBL Bank (1.01), Adani Enterprises (0.94), HUL (0.89), Indian Hotel (0.85) and Eicher Motors (0.83).
Among most active underlying, ICICI Bank witnessed an addition of 704 units of Open Interest in the September month futures, Adani Enterprises witnessed a contraction of 423 units of Open Interest in the September month futures, HDFC Bank witnessed an addition of 2,024 units of Open Interest in the September month futures, Infosys witnessed an addition of 8,721 units of Open Interest in the September month futures and Reliance Industries witnessed a contraction of 168 units of Open Interest in the September month futures (Provisional).
