CNX Nifty ended the volatile session on a flat note on Thursday amid selling in energy and pharma stocks and after index heavyweight Reliance Industries, failed to surprise the market with its AGM announcements. The fall in rupee value against the dollar also turned down the investors’ sentiments. On the global front, Asian markets ended in red after US jobs and factory data missed estimates and investors speculated whether the Federal Reserve will scale back bond purchases. Meanwhile, European markets made a positive opening on Thursday.
Back home, Indian equity benchmark made a negative start pressurized by feeble global cues as the US markets suffered sharp selling in previous session and slipped to their lowest levels in a month on getting mixed economic data. In the first half, market pared early losses but traded in negative territory. The government’s statement that it has raised the import duty on gold to 8% from 6% to contain the record current account deficit improved the sentiments. In the second half, market entered the positive territory on account of buying in front line blue chip counters and taking cues from European counterparts. However, the buying witnessed in banking, finance and realty stocks were offset by selling in energy and pharma stocks, which led the market to end near the neutral line.
Meanwhile, sectoral indices on the NSE made a mixed closing. CNX PSU Bank up by 1.26%, CNX Finance up by 0.53%, CNX Realty up by 0.46% and CNX Media up by 0.18% remained the top gainers of the trade. While, CNX Pharma down 1.22%, CNX Energy down 0.97%, CNX Infra down 0.46% and CNX Metal down 0.38% remained the losers in the trade. India Volatility Index (VIX), a gauge for market’s short term expectation of volatility, up by 3.40% and reached 17.35.
The India VIX witnessed an addition of 3.40% at 17.35 as compared to its previous close of at 16.78 on Wednesday. The 50-share CNX Nifty lost 2.45 points or 0.04 % to settle at 5,921.40.
Nifty June 2013 futures closed at 5936.85 on Thursday at a premium of 15.45 points over spot closing of 5921.40, while Nifty July 2013 futures ended at 5952.00, at a premium of 30.60 points over spot closing. Nifty June futures saw contraction of 0.70 million (mn) units taking the total outstanding open interest (OI) to 12.45 mn units. The near month June 2013 derivatives contract will expire on June 27, 2013.
From the most active contracts, Reliance Communications June 2013 futures were trading at a premium of 0.50 points at 118.50 compared with spot closing of 118.00. The number of contracts traded was 25,676.
Tata Motors June 2013 futures were trading at a premium of 2.15 points at 308.70 compared with spot closing of 306.55. The number of contracts traded was 11,520.
DLF June 2013 futures were at a premium of 0.70 points at 203.20 compared with spot closing of 202.50. The number of contracts traded was 16,258.
Reliance Industries June 2013 futures were at a premium of 6.25 points at 797.20 compared with spot closing of 790.95. The number of contracts traded was 23,937.
Reliance Capital June 2013 futures were trading at a premium of 1.50 points at 345.05 compared with spot closing of 343.55. The number of contracts traded was 11,453.
Among Nifty calls, 6,200 SP from the June month expiry was the most active call with an addition of 0.26 million open interest.
Among Nifty puts, 5,900 SP from the June month expiry was the most active put with an addition of 0.62 million open interest.
The maximum OI outstanding for Calls was at 6,200 SP (6.15 mn) and that for Puts was at 5,900 SP (6.72 mn).
The respective Support and Resistance levels are: Resistance 5962.13 -- Pivot Point 5915.82 -- Support 5875.08.
The Nifty Put Call Ratio (PCR) OI wise stood at 1.06 for June -month contract.
The top five scrips with highest PCR on OI were Adani Ports 1.16, DR Reddy 1.07, HUL 1.00, CESC1.00, and Uniphos 0.99.
Among most active underlying, Unitech witnessed an addition of 1.06 million of Open Interest in the June month futures contract followed by JP Associates which witnessed an addition of 2.24 million of Open Interest in the near month contract. Meanwhile, Reliance Communications witnessed contraction of 0.39 million in the June month futures. Also, Reliance Power witnessed an addition of 0.18 million in Open Interest in the June month contract. Finally, BHEL witnessed anaddition of 0.21 million of Open Interest in the near month futures contract.
