S&P CNX – Nifty ended higher for fourth straight day on Wednesday. India VIX was up 0.20%. Index made positive start, as domestic traders found support after Icra Ratings said after rising steeply for a month, the cost of market borrowing for states declined sharply on Tuesday with the weighted average cut-off falling by 11 basis points to 7.72 per cent from 7.83 per cent last week. Some comfort also came as the Government of India is taking major policy initiatives for Agriculture Startups with a latest announcement of Rs 500 crore accelerator programme and creation of a high-level steering committee among others.
Further, market continued its firm trade, as sentiments remained positive with a Crisil Ratings’ latest report stating that securitisation volumes have jumped 48 per cent to over Rs 75,000 crore for the first half of the fiscal (H1FY23). It said the long track record of stable performance of securitised pools, despite several episodes of adversity, may have eased investor concerns, but some investors continue to be apprehensive. Market managed to end the session in green, however, in late afternoon session trimmed most of its gains, as traders were cautious after the Indian Rupee hit new record low against the US dollar.
Most of the sectoral indices ended in green except Auto, IT and Media. The top gainers from the F&O segment were Container Corporation of India, Syngene International and TVS Motor Company. On the other hand, the top losers were LTTS, Astral and Aarti Industries. 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 increased by 0.20% and reached 17.49. The 50 share Nifty up by 25.30 points or 0.14% to settle at 17,512.25.
Nifty October 2022 futures closed at 17506.10 (LTP) on Wednesday, at a discount of 6.15 points over spot closing of 17512.25, while Nifty November 2022 futures ended at 17542.40 (LTP), at a premium of 30.15 points over spot closing. Nifty October futures saw an addition of 3,855 units, taking the total open interest (Contracts) to 2,32,080 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 0.05 points at 2496.05 (LTP) compared with spot closing of 2496.00. The numbers of contracts traded were 67,061. (Provisional)
HDFC Bank October 2022 futures traded at a discount of 1.35 points at 1458.60 (LTP) compared with spot closing of 1459.95. The numbers of contracts traded were 44,562. (Provisional)
HDFC October 2022 futures traded at a premium of 3.00 points at 2380.00 (LTP) compared with spot closing of 2377.00. The numbers of contracts traded were 26,928. (Provisional)
Ultratech Cement October 2022 futures traded at a premium of 15.00 points at 6425.00 (LTP) compared with spot closing of 6410.00. The numbers of contracts traded were 23,359. (Provisional)
Infosys October 2022 futures traded at a discount of 14.20 points at 1473.80 (LTP) compared with spot closing of 1488.00. The numbers of contracts traded were 22,417. (Provisional)
Among, Nifty calls, 17600 SP from the October month expiry was the most active call with an addition of 12,805 units open interests. Among Nifty puts, 17500 SP from the October month expiry was the most active put with an addition of 15,679 units open interests. The maximum OI outstanding for Calls was at 18000 SP (96,526 units) and that for Puts was at 17000 SP (81,779 units). The respective Support and Resistance levels of Nifty are: Resistance 17,588.95 -- Pivot Point 17,530.90 -- Support -- 17,454.20.
The Nifty Put Call Ratio (PCR) finally stood at (1.11) for October month contract. The top five scrips with highest PCR on TVS Motors (1.18), Canara Bank (1.04), IDFC (0.95), Axis Bank (0.91) and Max Financial Services (0.91).
Among most active underlying, Reliance Industries witnessed an addition of 6,954 units of Open Interest in the October month futures, HDFC Bank witnessed an addition of 4,215 units of Open Interest in the October month futures, ICICI Bank witnessed an addition of 6,410 units of Open Interest in the October month futures, Axis Bank witnessed an addition of 2,169 units of Open Interest in the October month futures and HDFC witnessed an addition of 102 units of Open Interest in the October month futures. (Provisional)
