S&P CNX -- Nifty -- snapped 7- day losing streak on Friday and ended day’s trade above 17000 mark. India VIX was down by 6.26%. Market made negative start, as RBI said India’s current account deficit (CAD) in April-June was at $23.9 billion, or 2.8 per cent of gross domestic product (GDP), much higher than the $13.4 billion, or 1.5 per cent of GDP, in January-March 2022. However, soon market erased all its losses to trade above neutral line after S&P Global Ratings said rising rates and increased European energy insecurity are hitting growth in almost every country, but India with an estimated 7.3 per cent growth this fiscal, would be the star among emerging market economies. In afternoon trade, Market extended its gains to trade at day’s high point, as Reserve Bank of India (RBI) raised the benchmark lending rate by 50 basis points to 5.90 percent in a bid to check inflation, which has remained above its tolerance level for the past 8 months. This is the fourth consecutive rate hike after a 40 basis points increase in May and a 50 basis point hike each in June and August. Finally, Nifty closed the last trading day of week with gains of above one and half a percent.
All sectoral indices ended in green. The top gainers from the F&O segment were India Cements, Granules India and Canara Bank. On the other hand, the top losers were Dr. Lal PathLabs, Mahanagar Gas and Indraprastha Gas. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 15900 -16150 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 6.26% and reached 19.97. The 50 share Nifty up by 276.25 points or 1.64% to settle at 17,094.35.
Nifty October 2022 futures closed at 17106.00 (LTP) on Friday, at a premium of 11.65 points over spot closing of 17094.35, while Nifty November 2022 futures ended at 17160.00 (LTP), at a premium of 65.65 points over spot closing. Nifty October futures saw an addition of 18,815 units, taking the total open interest (contracts) to 2,47,806 units. The near month derivatives contract will expire on October 27, 2022 (Provisional).
From the most active contracts, Reliance Industries October 2022 futures traded at a premium of 9.85 points at 2386.00 (LTP) compared with spot closing of 2376.15. The numbers of contracts traded were 42,376 (Provisional).
Infosys October 2022 futures traded at a discount of 12.75 points at 1401.05 (LTP) compared with spot closing of 1413.80. The numbers of contracts traded were 35,591 (Provisional).
HDFC Bank October 2022 futures traded at a premium of 4.75 points at 1426.80 (LTP) compared with spot closing of 1422.05. The numbers of contracts traded were 33,503 (Provisional).
Tata Motors October 2022 futures traded at a discount of 1.35 points at 403.95 (LTP) compared with spot closing of 405.30. The numbers of contracts traded were 23,854 (Provisional).
SBIN October 2022 futures traded at a premium of 2.55 points at 534.10 (LTP) compared with spot closing of 531.55. The numbers of contracts traded were 22,349 (Provisional).
Among, Nifty calls, 17500 SP from the October month expiry was the most active call with an addition of 4,994 units open interests. Among Nifty puts, 17000 SP from the October month expiry was the most active put with an addition of 1,365 units open interests. The maximum OI outstanding for Calls was at 18000 SP (49,175 units) and that for Puts was at 16000 SP (52,148 units). The respective Support and Resistance levels of Nifty are: Resistance 17,271.73 -- Pivot Point 17,009.72 -- Support -- 16,832.33.
The Nifty Put Call Ratio (PCR) finally stood at (1.20) for October month contract. The top five scrips with highest PCR on Whirlpool (1.63), IDFC (1.38), Intellect Design Arena (1.35), Icici Prudential Life Insurance Comp (1.09) and TVS motors (1.03).
Among most active underlying, Adani Enterprises witnessed an addition of 668 units of Open Interest in the October month futures, HDFC Bank witnessed an addition of 4,680 units of Open Interest in the October month futures, Reliance Industries witnessed an addition of 1,438 units of Open Interest in the October month futures, ICICI Bank witnessed an addition of 1,620 units of Open Interest in the October month futures and SBIN witnessed an addition of 1,753 units of Open Interest in the October month futures (Provisional).
