S&P CNX Nifty ended near day’s low point amid weekly F&O expiry. India VIX was down by 1.47%. It was a negative start to the market, as traders were concerned with rising geopolitical tensions. Besides, foreign institutional investors have net sold shares worth Rs 386.06 crore on November 16, 2022 as per provisional data available on the NSE. Further, market continued its weak run after credit rating agency Crisil in its latest report has said that as much as 43% of India’s micro, small and medium enterprises (MSME) universe by value is expected to remain below the pre-pandemic (fiscal 2020) level in terms of earnings before interest, tax, depreciation and amortisation (EBITDA) margin this fiscal (FY23) because of inability to completely pass on the high prices in some commodities as well as an unfavourable exchange rate.
Traders failed to draw any sense of relief with Reserve Bank of India (RBI) Governor Shaktikanta Das’ statement that despite challenges, the Indian banking sector has been resilient and improved in various performance parameters. At the same time though, he asked public as well as private sector banks to remain watchful of the evolving macroeconomic situation and take necessary mitigating measures to minimise their impact on balance sheets and contain financial stability risks. In last leg of trade, market widened its losses to end session near low point amid profit booking. Traders took a note of reports that India and the Gulf Cooperation Council (GCC) are expected to launch negotiations for a free trade agreement on November 24 with an aim to boost economic ties between the two regions.
Most of the sectorial indices ended in red except PSU Bank and Realty. The top gainers from the F&O segment were Shriram Transport Finance Company, ABB and Exide Industries. On the other hand, the top losers were Hindustan Copper, India Cements and Info Edge (India). In the index option segment, maximum OI continues to be seen in the 18900 -19100 calls and 17950 -18050 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 1.47% and reached 14.88. The 50 share Nifty down by 65.75 points or 0.36% to settle at 18,343.90.
Nifty November 2022 futures closed at 18357.10 (LTP) on Thursday, at a premium of 13.20 points over spot closing of 18343.90, while Nifty December 2022 futures ended at 18449.05 (LTP), at a premium of 105.15 points over spot closing. Nifty November futures saw an addition of 4,170 units, taking the total open interest (Contracts) to 2,34,984 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 1.05 points at 2600.00 (LTP) compared with spot closing of 2598.95. The numbers of contracts traded were 20,795. (Provisional)
Adani Enterprises November 2022 futures traded at a premium of 8.00 points at 4025.00 (LTP) compared with spot closing of 4017.00. The numbers of contracts traded were 20,329. (Provisional)
L&T November 2022 futures traded at a premium of 7.00 points at 2036.00 (LTP) compared with spot closing of 2029.00. The numbers of contracts traded were 17,536. (Provisional)
Infosys November 2022 futures traded at a premium of 6.45 points at 1592.05 (LTP) compared with spot closing of 1585.60. The numbers of contracts traded were 16,676. (Provisional)
HDFC Bank November 2022 futures traded at a premium of 5.10 points at 1622.10 (LTP) compared with spot closing of 1617.00. The numbers of contracts traded were 16,148. (Provisional)
Among, Nifty calls, 18400 SP from the November month expiry was the most active call with an addition of 51,464 units open interests. Among Nifty puts, 18200 SP from the November month expiry was the most active put with an addition of 13,447 units open interests. The maximum OI outstanding for Calls was at 19000 SP (1,95,758 units) and that for Puts was at 18000 SP (1,00,284 units). The respective Support and Resistance levels of Nifty are: Resistance 18,403.35 -- Pivot Point 18,358.15 -- Support -- 18,298.70.
The Nifty Put Call Ratio (PCR) finally stood at (0.90) for November month contract. The top five scrips with highest PCR on Canara Bank (1.23), Jindal Steel & Power (1.21), Balkrishna Industries (1.01), Amara Raja Batteries (1.00) and Adani Enterprises (0.99).
Among most active underlying, Adani Enterprises Zone witnessed an addition of 761 units of Open Interest in the November month futures, ICICI Bank witnessed an addition of 795 units of Open Interest in the November month futures, HDFC Bank witnessed a contraction of 622 units of Open Interest in the November month futures, Reliance Industries witnessed an addition of 83 units of Open Interest in the November month futures and L&T witnessed an addition of 1,099 units of Open Interest in the November month futures and (Provisional)
