Nifty ends near day’s low point on Monday

Nifty closed Monday’s session with cut of above a percent. India VIX was up by 6.99%. Market made negative start, as government data showed that the output of eight core infrastructure sectors grew 3.3 per cent in August -- the lowest in nine months -- as against 12.2 per cent in the year-ago period. Further, index extended its losses, as foreign investors turned sellers again in September and pulled out over Rs 7,600 crore from the Indian equity markets amid hawkish stance by the US Fed and sharp depreciation in rupee. In afternoon trade, market trimmed some of losses, as Centre for Monitoring Indian Economy (CMIE) has stated that India's unemployment rate drastically dropped to 6.43% in September due to an increase in labour participation in the rural and urban areas. But, market witnessed sharp losses at end of the session and finally, Nifty closed the day’s trade below 16900 mark. 

All sectoral indices ended in red except Pharma and Healthcare Index. The top gainers from the F&O segment were Lupin, Zydus Lifesciences and Aurobindo Pharma. On the other hand, the top losers were India Cements, Adani Enterprises and Samvardhana Motherson International. 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 increased by 6.99% and reached 21.37. The 50 share Nifty down by 207.00 points or 1.21% to settle at 16,887.35.

Nifty October 2022 futures closed at 16888.25 (LTP) on Monday, at a premium of 0.90 points over spot closing of 16887.35, while Nifty November 2022 futures ended at 16935.05 (LTP), at a premium of 47.70 points over spot closing. Nifty October futures saw an addition of 25,674 units, taking the total open interest (Contracts) to 2,66,251 units. The near month derivatives contract will expire on October 27, 2022 (provisional).

From the most active contracts, Adani Enterprises October 2022 futures traded at a premium of 5.25 points at 3170.00 (LTP) compared with spot closing of 3164.75. The numbers of contracts traded were 34,581 (provisional).

Reliance Industries October 2022 futures traded at a premium of 11.90 points at 2378.95 (LTP) compared with spot closing of 2367.05. The numbers of contracts traded were 30,476 (provisional).

Infosys October 2022 futures traded at a discount of 10.40 points at 1383.35 (LTP) compared with spot closing of 1393.75. The numbers of contracts traded were 21,821 (provisional).

Adani Ports October 2022 futures traded at a premium of 0.65 points at 785.60 (LTP) compared with spot closing of 784.95. The numbers of contracts traded were 21,222 (provisional).

HDFC Bank October 2022 futures traded at a premium of 2.10 points at 1413.10 (LTP) compared with spot closing of 1411.00. The numbers of contracts traded were 19,508 (provisional).

Among, Nifty calls, 17000 SP from the October month expiry was the most active call with an addition of 14,401 units open interests. Among Nifty puts, 16000 SP from the October month expiry was the most active put with an addition of 4,804 units open interests. The maximum OI outstanding for Calls was at 18000 SP (59,967 units) and that for Puts was at 16000 SP (57,006 units). The respective Support and Resistance levels of Nifty are: Resistance 17,049.48 -- Pivot Point 16,952.52 -- Support -- 16,790.38.

The Nifty Put Call Ratio (PCR) finally stood at (1.16) for October month contract. The top five scrips with highest PCR on Intellect Design Arena (1.37), Whirlpool (1.26), IDFC (1.21), Gujarat State Petronet (1.17) and Grasim Industries (1.12).

Among most active underlying, Adani Enterprises witnessed a contraction of 371 units of Open Interest in the October month futures, Adani Ports witnessed an addition of 571 units of Open Interest in the October month futures, Reliance Industries witnessed an addition of 3,085 units of Open Interest in the October month futures, Ambuja Cement witnessed an addition of 383 units of Open Interest in the October month futures and HDFC Bank witnessed an addition of 1,180 units of Open Interest in the October month futures (Provisional).