S&P CNX Nifty ended higher on last trading day of week. India VIX was up by 0.27%. Index made positive start, as traders found support after Commerce Secretary Sunil Barthwal stated that there is a huge scope for India to move in the global value chain systems and have high value-addition in global exports. India's share in global exports is less than 2 per cent. So, huge potential is there to boost the shipments despite global headwinds and low trade growth predictions. Further, market extended its upward trend, as official data showed that retirement fund body EPFO net added 16.94 lakh new subscribers in August 2022, registering a 14.4 per cent rise as compared to the year-ago period. Traders also took note of a report that the Centre has exuded confidence that the prices of pulses and onions - the two main commodities which seasonally show a spike with the advent of winter - wouldn’t rise much this year, assuring it has adequate stocks in the event of a market intervention.
Markets sustained its gains in early afternoon session. Traders remained optimistic after Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said that the world currently is looking at India with great confidence. He said this trust has developed after 8 years of painstakingly building up India’s story. He said ‘Structural reforms have been the core agenda of the government, helping us to lay the building blocks for the future.’ However, in late afternoon session, market lost its earlier gains to trade flat on the account of profit booking. Traders were worried amid a private report stating that India suffered an income loss of USD 159 billion, 5.4 per cent of its gross domestic product, in the service, manufacturing, agriculture, and construction sectors due to extreme heat in 2021. However, Nifty managed to end in green to extend its gaining session for six straight day.
Traders were seen piling positions in Bank, Realty and PSU Bank sector while selling was witnessed in Metal, Power and Oil & Gas sector stocks. The top gainers from the F&O segment were Auto, FMCG and IT. On the other hand, the top losers were ABB, Indusind Bank and AU Small Finance Bank. 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 0.27% and reached 17.28. The 50 share Nifty up by 12.35 points or 0.07% to settle at 17,576.30.
Nifty October 2022 futures closed at 17574.90 (LTP) on Friday, at a discount of 1.40 points over spot closing of 17576.30, while Nifty November 2022 futures ended at 17611.00 (LTP), at a premium of 34.70 points over spot closing. Nifty October futures saw an addition of 1,263 units, taking the total open interest (Contracts) to 2,28,031 units. The near month derivatives contract will expire on October 27, 2022. (Provisional)
From the most active contracts, Axis Bank October 2022 futures traded at a discount of 4.45 points at 899.55 (LTP) compared with spot closing of 904.00. The numbers of contracts traded were 68,184. (Provisional)
Reliance Industries October 2022 futures traded at a premium of 5.00 points at 2475.00 (LTP) compared with spot closing of 2470.00. The numbers of contracts traded were 53,565. (Provisional)
Infosys October 2022 futures traded at a discount of 14.85 points at 1485.75 (LTP) compared with spot closing of 1500.60. The numbers of contracts traded were 41,890. (Provisional)
HDFC Bank October 2022 futures traded at a premium of 0.55 points at 1442.85 (LTP) compared with spot closing of 1442.30. The numbers of contracts traded were 40,389. (Provisional)
Kotak Mahindra Bank October 2022 futures traded flat with spot closing of 1905.00. The numbers of contracts traded were 33,188. (Provisional)
Among, Nifty calls, 17800 SP from the October month expiry was the most active call with an addition of 24,389 units open interests. Among Nifty puts, 17600 SP from the October month expiry was the most active put with an addition of 56,727 units open interests. The maximum OI outstanding for Calls was at 18000 SP (1,82,258 units) and that for Puts was at 17000 SP (1,30,877 units). The respective Support and Resistance levels of Nifty are: Resistance 17,657.38 -- Pivot Point 17,589.07 -- Support -- 17,507.98.
The Nifty Put Call Ratio (PCR) finally stood at (0.89) for October month contract. The top five scrips with highest PCR on Canara Bank (1.42), Axis Bank (1.22), Bank of Baroda (1.08), HDFCAMC (1.00) and IDFC (1.00).
Among most active underlying, Axis Bank witnessed an addition of 5,091 units of Open Interest in the October month futures, ICICI Bank witnessed an addition of 3,540 units of Open Interest in the October month futures, Reliance Industries witnessed an addition of 5,270 units of Open Interest in the October month futures, HDFC Bank witnessed a contraction of 3,257 units of Open Interest in the October month futures and Bajaj Finance witnessed a contraction of 1,254 units of Open Interest in the October month futures. (Provisional)
