CNX Nifty ended lower for a seventh consecutive session on Thursday as investors’ sentiments turned down by the weak core sectors’ growth data and HSBC Purchasing Managers' Index (PMI). Growth rate of eight core industries slowed down to four-month low of 0.1 percent in June, as against 7.9% in the same month of previous year, showing no sign of economic growth recovery. On the other hand, the HSBC Purchasing Managers' Index (PMI), fell to 47.7 in July from June's 48.2, which was the weakest since August 2012. On global front, most of the Asian markets ended higher, while European markets too made a positive opening in the early deals on Thursday.
Back home, Nifty made a positive start buoyed by firm Asian cues. However, in the late afternoon session market paired its early gains as weak economic data like HSBC manufacturing PMI and core sectors’ growth weighed on the investors’ sentiments. Further, selling was witnessed in Financial Technologies stock after National Spot Exchange halted all contracts, except ‘e-series’ also added to the market losses. However, market losses remained capped as investors piled up position in finance, MNC and service stocks. In the second half, market continued volatile trade near the neutral line. Selling was witnessed in the realty, PSU bank and PSE stocks. Finally, Nifty ended the session with a loss of 14 points.
Meanwhile, sectoral indices on the NSE made a mixed closing. CNX Realty down 4.36%, CNX PSU Bank down 3.56%, CNX PSE down 2.45%, CNX Energy down 2.16% and CNX Metal down 2.04% remained the top losers in the trade. While, CNX Finance up by 1.36%, CNX Service up by 0.50% and CNX MNC up by 0.16% remained the gainers in the trade. The India Volatility Index (VIX), a gauge for market’s short term expectation of volatility, up by 5.54% and reached 19.81.
The India VIX witnessed an addition 5.54% at 19.81 as compared to its previous close of 18.77 on Wednesday.
The 50-share CNX Nifty lost 14.15 points or 0.25% to settle at 5,727.85.
Nifty August 2013 futures closed at 5762.05 on Thursday at a premium of 34.20 points over spot closing of 5,727.85, while Nifty September 2013 futures ended at 5792.70 at a premium of 64.85 points over spot closing. Nifty August futures saw contraction of 0.28 million (mn) units taking the total outstanding open interest (OI) to 16.41 mn units. The near month August 2013 derivatives contract will expire on August 29, 2013.
From the most active contracts, JP Associates August 2013 futures last traded at a premium of 0.25 points at 32.85 compared with spot closing of 32.60. The number of contracts traded was 21,076.
DLF August 2013 futures last traded at a premium of 1.90 points at 138.95 compared with spot closing of 137.05. The number of contracts traded was 19,546.
Yes Bank August 2013 futures were at a premium of 3.25 points at 330.40 compared with spot closing of 327.15. The number of contracts traded was 37,036.
ICICI Bank August 2013 futures last traded at a premium of 4.40 points at 920.70 compared with spot closing of 916.30. The number of contracts traded was 30,719.
Reliance Industries August 2013 futures were at a premium of 9.60 points at 858.05 compared with spot closing of 848.45. The number of contracts traded was 16,231.
Among Nifty calls, 6,000 SP from the Aug month expiry was the most active call with an addition of 0.39 million open interest.Among Nifty puts, 5,700 SP from the Aug month expiry was the most active put with an addition of 0.30 million open interest.
The maximum OI outstanding for Calls was at 6,000 SP (6.30 mn) and that for Puts was at 5,700 SP (6.24 mn).
The respective Support and Resistance levels of Nifty are: Resistance 5798.62 -- Pivot Point 5737.73 - Support -- 5666.97.
The Nifty Put Call Ratio (PCR) OI wise stood at 1.08 for August month contract. The top five scrips with highest PCR on OI were Bharat Forge 3.00, Hind Zinc 3.00, Federal Bank 2.33, Ambuja Cement 1.26 and Infosys 1.26.
Among most active underlying, JP Associates witnessed an addition of 2.58 million of Open Interest in the Aug month futures contract followed by Unitech which witnessed an addition of 0.13 million of Open Interest in the near month contract; HDIL witnessed an addition of 3.46 million in the Aug month futures. Also, Reliance Communications witnessed contraction of 3.12 million in Open Interest in the Aug month contract and Hindalco Industries witnessed an addition of 0.44 million of Open Interest in the near month futures contract.
