Nifty ends on flat note

Nifty ended Friday’s trade on flat note. India VIX was down by 2.60%. Market made negative start after World Bank projected a growth rate of 6.5 per cent for the Indian economy for the fiscal year 2022-23, a drop of one per cent from its previous June 2022 projections, citing deteriorating international environment. It added that private investment growth is likely to be dampened by heightened uncertainty and higher financing costs. Further, market continued to trade lower after credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that the entities having reliance on equity infusions through initial public offerings/rights issues or monetisation of assets are likely to be impacted by tightening liquidity conditions and ensuing volatility in asset prices. In afternoon tarde, index added more losses after rupee weakens past 82 per dollar mark for the first time against the US dollar amid a surge in crude and US bond yields. However, in late afternoon session, market trimmed most of its losses to end session near neutral line. Traders found support with Union Minister of Petroleum and Natural Gas Hardeep Singh Puri’s statement that India has handled the current energy crisis in a responsible and mature manner. The minister said that there is a huge potential of India-US collaboration in the energy sector.

Most of the sectoral indices ended in red except Media, Pvt Bank and Realty. The top gainers from the F&O segment were Titan Company, City Union Bank and Ambuja Cements. On the other hand, the top losers were Biocon, Jubilant FoodWorks and Ramco Cements. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 16900 -17150 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 2.60% and reached 18.81. The 50 share Nifty down by 17.15 points or 0.09% to settle at 17,314.65.

Nifty October 2022 futures closed at 17329.10 (LTP) on Friday, at a premium of 14.45 points over spot closing of 17314.65, while Nifty November 2022 futures ended at 17378.00 (LTP), at a premium of 63.35 points over spot closing. Nifty October futures saw an addition of 5,098 units, taking the total open interest (Contracts) to 2,49,037 units. The near month derivatives contract will expire on October 27, 2022. (Provisional)

From the most active contracts, Infosys October 2022 futures traded at a discount of 13.45 points at 1438.55 (LTP) compared with spot closing of 1452.00. The numbers of contracts traded were 19,819. (Provisional)

Reliance Industries October 2022 futures traded at a premium of 9.05 points at 2441.00 (LTP) compared with spot closing of 2431.95. The numbers of contracts traded were 18,285. (Provisional)

Titan Company October 2022 futures traded at a premium of 13.60 points at 2743.80 (LTP) compared with spot closing of 2730.20. The numbers of contracts traded were 17,822. (Provisional)

TCS October 2022 futures traded at a premium of 5.00 points at 3073.00 (LTP) compared with spot closing of 3068.00. The numbers of contracts traded were 16,815. (Provisional)

HDFC Bank October 2022 futures traded at a premium of 7.20 points at 1438.20 (LTP) compared with spot closing of 1431.00. The numbers of contracts traded were 14,064.  (Provisional)

Among, Nifty calls, 18000 SP from the October month expiry was the most active call with an addition of 6,552 units open interests. Among Nifty puts, 17000 SP from the October month expiry was the most active put with an addition of 8,806 units open interests. The maximum OI outstanding for Calls was at 18000 SP (60,858 units) and that for Puts was at 17000 SP (67,064 units). The respective Support and Resistance levels of Nifty are: Resistance 17,362.35 -- Pivot Point 17,289.65 -- Support -- 17,241.95.

The Nifty Put Call Ratio (PCR) finally stood at (1.24) for October month contract. The top five scrips with highest PCR on JSW Steel (0.97), Coal India (0.92), RBL Bank (0.89), Grasim Industries (0.86) and SBILIFE (0.84).

Among most active underlying, Titan Company witnessed an addition of 1,555 units of Open Interest in the October month futures, Adani Enterprises witnessed a contraction of 68 units of Open Interest in the October month futures, ICICI Bank witnessed an addition of 793 units of Open Interest in the October month futures, Reliance Industries witnessed a contraction of 893 units of Open Interest in the October month futures and HDFC Bank witnessed an addition of 868 units of Open Interest in the October month futures. (Provisional)