S&P CNX Nifty finished last trading day of week on a higher note for second consecutive day amid falling crude oil prices. India VIX was down by 15.92%. Market made positive start, as some support came with a private report that Indian economy’s recovery from the coronavirus pandemic, as well as the pace of the economy is better as compared to global peers despite headwinds such as high inflation, monetary policy tightening, rising interest rate, and the Russia-Ukraine war. Some optimism also came after foreign institutional investors (FIIs) have net bought shares worth Rs 2,818.40 crore on October 27, as per provisional data available on the NSE.
Index remained in green for the most part of the session however, in afternoon deals cut gains and turned negative for a little time, as traders were worried with International Monetary Fund (IMF) stating that the strong recovery in South Asia is expected to take a breather with India's economy expanding at 6.8% in FY23, revised down by 1.4 percentage points since the April 2022 World Economic Outlook, due to a weaker-than-expected recovery in the second quarter and subdued external demand. Index staged recovery from its day’s low point to end Friday’s trade in green above 17750 mark. Some optimism came after Prime Minister Narendra Modi said he and his British counterpart agreed on “the importance of early conclusion of a comprehensive and balanced” free trade agreement (FTA).
Most of the sectoral indices ended in green except Auto and Oil&Gas. The top gainers from the F&O segment were Maruti Suzuki, REC and Power Finance Corporation. On the other hand, the top losers were Tata Chemicals, SBI Cards and Payment Services and Balrampur Chini Mills. 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 4.06% and reached 15.92. The 50 share Nifty up by 49.85 points or 0.28% to settle at 17,786.80.
Nifty November 2022 futures closed at 17837.00 (LTP) on Friday, at a premium of 50.20 points over spot closing of 17786.80, while Nifty December 2022 futures ended at 17900.00 (LTP), at a premium of 113.20 points over spot closing. Nifty November futures saw an addition of 9,962 units, taking the total open interest (Contracts) to 2,28,668 units. The near month derivatives contract will expire on November 24, 2022. (Provisional)
From the most active contracts, Reliance Industries November 2022 futures traded at a premium of 14.75 points at 2541.75 (LTP) compared with spot closing of 2527.00. The numbers of contracts traded were 49,646. (Provisional)
Maruti Suzuki India November 2022 futures traded at a premium of 32.10 points at 9580.10 (LTP) compared with spot closing of 9548.00. The numbers of contracts traded were 41,424. (Provisional)
Tata Chemicals November 2022 futures traded at a premium of 6.25 points at 1138.25 (LTP) compared with spot closing of 1132.00. The numbers of contracts traded were 25,735. (Provisional)
Adani Ports and Special Economic Zone November 2022 futures traded at a premium of 4.60 points at 823.00 (LTP) compared with spot closing of 818.40. The numbers of contracts traded were 19,616. (Provisional)
HDFC Bank November 2022 futures traded at a premium of 4.35 points at 1464.30 (LTP) compared with spot closing of 1459.95. The numbers of contracts traded were 18,892. (Provisional)
Among, Nifty calls, 18000 SP from the November month expiry was the most active call with an addition of 2,472 units open interests. Among Nifty puts, 17800 SP from the November month expiry was the most active put with an addition of 3,973 units open interests. The maximum OI outstanding for Calls was at 18500 SP (41,392 units) and that for Puts was at 17000 SP (62,905 units). The respective Support and Resistance levels of Nifty are: Resistance 17,842.57 -- Pivot Point 17,783.13 -- Support -- 17,727.37.
The Nifty Put Call Ratio (PCR) finally stood at (1.34) for November month contract. The top five scrips with highest PCR on Intellect Design Arena (1.26), Icici Prudential Life Insurance (1.25), Axis Bank (1.24), Marico (1.09) and Whirlpool Of India (1.07).
Among most active underlying, Maruti Suzuki witnessed an addition of 4,310 units of Open Interest in the November month futures, Reliance Industries witnessed a contraction of 202 units of Open Interest in the November month futures, ICICI Bank witnessed an addition of 1,896 units of Open Interest in the November month futures, HDFC Bank witnessed an addition of 1,180 units of Open Interest in the November month futures and Tata Chemicals witnessed an addition of 3,299 units of Open Interest in the November month futures. (Provisional)
