Nifty ends at fresh record closing high on Wednesday

S&P CNX Nifty ended at fresh record closing high on Wednesday. India VIX was up by 1.41%. Market made slightly positive start, as some support came after foreign institutional investors (FIIs) have net-bought shares worth Rs 1,241.57 crore on November 29, as per provisional data available on the NSE. Further, index traded with minor gains, as investors maintained cautiousness approach after capital markets regulator Sebi barred five brokerage houses for up to six months from making fresh applications seeking registration as commodity brokers as they failed to meet 'fit and proper' criteria in the NSEL case. The affected brokerage houses include India Infoline Commodities, Anand Rathi Commodities and Geofin Comtrade (banned for 6 months each), and Phillip Commodities and Motilal Oswal Commodities Broker (for 3 months each). Market maintained its head above neutral line in afternoon session, and soon gained traction to hit fresh record high. Finally, Nifty closed day’s trade above 18750 mark.

Most of the sectorial indices ended in green except PSU Bank. The top gainers from the F&O segment were Shriram Transport Finance Company, GMR Airports Infrastructure and Jindal Steel & Power. On the other hand, the top losers were Glenmark Pharmaceuticals, Canara Bank and Punjab National Bank. 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 increased by 1.41% and reached 13.81. The 50 share Nifty up by 140.30 points or 0.75% to settle at 18,758.35.

Nifty December 2022 futures closed at 18890.00 on Wednesday (LTP), at a premium of 131.65 points over spot closing of 18758.35, while Nifty January 2023 futures ended at 18982.05 (LTP), at a premium of 223.70 points over spot closing. Nifty December futures saw an addition of 12,705 units, taking the total open interest (Contracts) to 2,52,944 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 14.95 points at 2748.00 (LTP) compared with spot closing of 2733.05. The numbers of contracts traded were 28,137. (Provisional) 

TVS Motor Company December 2022 futures traded at a discount of 3.00 points at 1046.00 (LTP) compared with spot closing of 1049.00. The numbers of contracts traded were 20,757. (Provisional) 

Infosys December 2022 futures traded at a premium of 8.85 points at 1647.85 (LTP) compared with spot closing of 1639.00. The numbers of contracts traded were 18,888. (Provisional) 

HDFC Bank December 2022 futures traded at a premium of 12.40 points at 1624.30 (LTP) compared with spot closing of 1611.90. The numbers of contracts traded were 16,982. (Provisional)

Indian Hotels Company December 2022 futures traded at a premium of 1.40 points at 323.05 (LTP) compared with spot closing of 321.65. The numbers of contracts traded were 15,007. (Provisional)

Among, Nifty calls, 19000 SP from the December month expiry was the most active call with a contraction of 1,614 units open interests. Among Nifty puts, 18600 SP from the December month expiry was the most active put with an addition of 3,794 units open interests. The maximum OI outstanding for Calls was at 19000 SP (71,337 units) and that for Puts was at 18000 SP (78,568 units). The respective Support and Resistance levels of Nifty are: Resistance 18844.08 -- Pivot Point 18730.31 -- Support -- 18644.58.

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 (1.14), Hindustan Unilever (1.14), Alkem Laboratories (1.00), Bharat Petroleum Corporation (0.98) and HDFC Life Insurance Company (0.98).

Among most active underlying, The Indian Hotels Company witnessed an addition of 4,294 units of Open Interest in the December month futures, Reliance Industries witnessed an addition of 3,584 units of Open Interest in the December month futures, ICICI Bank witnessed an addition of 1,744 units of Open Interest in the December month futures, TVS Motor Company witnessed an addition of 6,322 units of Open Interest in the December month futures and HDFC Bank witnessed an addition of 5,587 units of Open Interest in the December month futures. (Provisional)