S&P CNX Nifty ended higher on F&O expiry day. India VIX was down by 1.67%. Market made optimistic start, as traders took support after S&P Global Market Intelligence said Asia-Pacific region, which produces 35 per cent of the world GDP, is expected to dominate global economic growth in 2023, supported by regional free-trade agreements, efficient supply chains, and competitive costs. It also said Southeast Asia and India will benefit from trade diversification away from mainland China. Further, market continued to trade in green, as sentiments remained upbeat with describing India as an economic superpower, Britain said that it was working towards the best Free Trade Agreement (FTA) that is beneficial to both the countries.
However, in afternoon session, market cut most of its gains. Traders were cautious after formal job creation in India slowed down in August after remaining buoyant for the last four months across the Employees’ Provident Fund Organization, the Employees’ State Insurance Corporation and the National Pension Scheme. Index touched its day’s low point in last hours of trade but managed to stage recovery to end higher. Some comfort came as Union Minister of Finance & Corporate Affairs Nirmala Sitharaman said that despite exogenous threats, India’s well-targeted policy mix, accompanied by major structural reforms and sound external balance sheet, have aided its growth to remain resilient. Finally, Nifty closed the day's trade above 17700 mark.
Most of the sectoral indices ended in green except IT. The top gainers from the F&O segment were RBL Bank, GMR Infra and JSW Steel. On the other hand, the top losers were Mindtree, Mphasis and NMDC. In the index option segment, maximum OI continues to be seen in the 18400 -18650 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 1.67% and reached 16.60. The 50 share Nifty up by 80.60 points or 0.46% to settle at 17,736.95.
Nifty November 2022 futures closed at 17803.10 (LTP) on Thursday, at a premium of 66.15 points over spot closing of 17736.95, while Nifty December 2022 futures ended at 17862.00 (LTP), at a premium of 125.05 points over spot closing. Nifty November futures saw an addition of 88,625 units, taking the total open interest (Contracts) to 2,21,495 units. The near month derivatives contract will expire on November 24, 2022. (Provisional)
From the most active contracts, Bajaj Finance November 2022 futures traded at a premium of 53.40 points at 7031.25 (LTP) compared with spot closing of 6977.85. The numbers of contracts traded were 864. (Provisional)
Infosys November 2022 futures traded at a premium of 1.00 points at 1527.50 (LTP) compared with spot closing of 1526.50. The numbers of contracts traded were 310. (Provisional)
HDFC Bank November 2022 futures traded at a premium of 9.80 points at 1465.25 (LTP) compared with spot closing of 1455.45. The numbers of contracts traded were 234. (Provisional)
Reliance Industries November 2022 futures traded at a premium of 17.05 points at 2471.00 (LTP) compared with spot closing of 2453.95. The numbers of contracts traded were 193. (Provisional)
Housing Development Finance Corporation November 2022 futures traded at a premium of 11.45 points at 2395.85 (LTP) compared with spot closing of 2384.40. The numbers of contracts traded were 156. (Provisional)
Among, Nifty calls, 17800 SP from the November month expiry was the most active call with an addition of 7,937 units open interests. Among Nifty puts, 17500 SP from the November month expiry was the most active put with an addition of 11,790 units open interests. The maximum OI outstanding for Calls was at 18500 SP (37,958 units) and that for Puts was at 17000 SP (57,271 units). The respective Support and Resistance levels of Nifty are: Resistance 17,795.73 -- Pivot Point 17,725.12 -- Support -- 17,666.33.
The Nifty Put Call Ratio (PCR) finally stood at (1.35) for November month contract. The top five scrips with highest PCR on Intellect Design Arena (2.04), Icici Prudential Life Insurance (1.62), J K Cement (1.44), Axis Bank (1.38) and Marico (1.28).
Among most active underlying, Reliance Industries witnessed an addition of 31,547 units of Open Interest in the November month futures, ICICI Bank witnessed an addition of 8,317 units of Open Interest in the November month futures, HDFC Bank witnessed an addition of 12,553 units of Open Interest in the November month futures, Axis Bank witnessed an addition of 4,638 units of Open Interest in the November month futures and Adani Enterprises witnessed an addition of 5,030 units of Open Interest in the November month futures. (Provisional)
