S&P CNX Nifty exhibited smart gains in Thursday’s trade and ended above 18450 mark amid monthly F&O expiry. India VIX was down by 4.02%. Market made a positive start, as investors got cheered after Federal Reserve's November meeting minutes showed interest rate hikes may slow soon. Besides, Revenue Secretary Tarun Bajaj said India's tax collection will exceed the budget estimate by nearly Rs 4 lakh crore in the current fiscal on the back of buoyant income tax, customs duty and GST mop-up. Further, index added more points, as traders took support with Union Home Minister Amit Shah’s statement that ‘we are moving at a fast pace towards achieving target of USD 5 trillion economy by 2025’. Market continued to trade with healthy gains in afternoon session, as sentiments were upbeat after S&P Global Market Intelligence projected India’s real gross domestic product (GDP) growth to average 6.3 per cent annually between financial years 2021 and 2030, enabling it to overtake Japan and Germany to become the world’s third-largest economy in nominal US dollar terms. Traders overlooked the data of the Department for Promotion of Industry and Internal Trade (DPIIT) showing that Foreign Direct Investment (FDI) equity inflows into India contracted by 14 per cent to USD 26.9 billion during the April-September this fiscal. The inflows had stood at USD 31.15 billion during the corresponding period of the previous year. Buying got intensified during final hours of trade to touch 52- week high point, as rupee gained against dollar.
Most of the sectorial indices ended in green except Consumer Durables. The top gainers from the F&O segment were Gujarat State Petronet, Birlasoft and LTIMindtree. On the other hand, the top losers were Biocon, Vodafone Idea and Gujarat Narmada Valley Fertilizers & Chemicals. In the index option segment, maximum OI continues to be seen in the 18900 -19100 calls and 17900 -18100 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 4.02% and reached 13.48. The 50 share Nifty up by 216.85 points or 1.19% to settle at 18,484.10.
Nifty December 2022 futures closed at 18651.25 (LTP) on Thursday, at a premium of 167.15 points over spot closing of 18484.10, while Nifty January 2023 futures ended at 18741.00 (LTP), at a premium of 256.90 points over spot closing. Nifty December futures saw an addition of 75,492 units, taking the total open interest (Contracts) to 2,28,187 units. The near month derivatives contract will expire on December 29, 2022. (Provisional)
From the most active contracts, Reliance Industries December 2022 futures traded at a premium of 20.85 points at 2608.85 (LTP) compared with spot closing of 2588.00. The numbers of contracts traded were 66,712. (Provisional)
Infosys December 2022 futures traded at a premium of 13.20 points at 1648.20 (LTP) compared with spot closing of 1635.00. The numbers of contracts traded were 51,533. (Provisional)
HDFC Bank December 2022 futures traded at a premium of 13.40 points at 1641.00 (LTP) compared with spot closing of 1627.60. The numbers of contracts traded were 38,589. (Provisional)
Adani Ports and Special Economic Zone December 2022 futures traded at a premium of 7.85 points at 883.65 (LTP) compared with spot closing of 875.80. The numbers of contracts traded were 34,129. (Provisional)
Adani Enterprises December 2022 futures traded at a premium of 22.10 points at 3952.10 (LTP) compared with spot closing of 3930.00. The numbers of contracts traded were 29,190. (Provisional)
Among, Nifty calls, 19000 SP from the December month expiry was the most active call with an addition of 8,502 units open interests. Among Nifty puts, 18000 SP from the December month expiry was the most active put with a contraction of 12,487 units open interests. The maximum OI outstanding for Calls was at 19000 SP (61,408 units) and that for Puts was at 18000 SP (70,134 units). The respective Support and Resistance levels of Nifty are: Resistance 18577.78 -- Pivot Point 18436.01 -- Support -- 18342.33.
The Nifty Put Call Ratio (PCR) finally stood at (1.46) for December month contract. The top five scrips with highest PCR on IPCA Laboratories (2.01), Whirlpool Of India (1.38), Siemens (1.10), Axis Bank (1.07), and Navin Fluorine International (1.04).
Among most active underlying, Reliance Industries witnessed an addition of 40,416 units of Open Interest in the December month futures, HDFC Bank witnessed an addition of 17,233 units of Open Interest in the December month futures, ICICI Bank witnessed an addition of 11,643 units of Open Interest in the December month futures, Adani Enterprises witnessed an addition of 9,901 units of Open Interest in the December month futures and Infosys witnessed an addition of 22,194 units of Open Interest in the December month futures. (Provisional)
