Nifty extends gains in late trade led by auto, oil & gas stocks

Nifty extended its winning streak for the fourth consecutive session and closed at intermediate resistance level of 5,750, even as the WPI inflation rose to 5-month high. The July WPI inflation rose to 5.79 per cent in July as compared to 4.86 per cent in June. Investor sentiments got boosted by data showing that foreign funds remained net buyers of Indian stocks on Tuesday, 13 August 2013. Foreign institutional investors (FIIs) bought shares worth a net Rs 227.08 crore on Tuesday, 13 August 2013, as per provisional data from the stock exchanges. The upswing in market was supported by quarterly earnings by Tata Steel whose shares jumped 3.59 per cent. The company reported better-than-expected first quarter results with consolidated net profit surging 90.51 per cent. Oil & gas shares saw heavy buying on buzz that the government may give a go-ahead to a one-time hike of Rs 2-3 per litre in diesel prices to offset the impact of fall in rupee value. A mixed trend in the Asian region and better opening in European markets amid reports that France has emerged from recession further positively influenced investor sentiment.

The Index opened higher and hit its highest level in almost two weeks amid initial volatility in morning trade on hopes that the government may soon unveil fresh measures to curb rupee’s slide. Volatility ruled the roost in late morning trade as index remained positive zone after hitting intraday low as investors remained cautious on continuous decline in Indian rupee, which fell to 61.36 against the dollar in early trade against the previous close of 61.28 at the Interbank Foreign Exchange. Market sentiments were subdued as global financial services firm Credit Suisse, which revised lower the India’s economic growth forecast for the FY14 to 6 percent from 6.5 percent projected earlier. In early afternoon trade, the index gave up most of the intraday gains after the latest data showed acceleration in inflation based on the wholesale price index in July 2013. In last leg of trade, Despite ugly WPI numbers, index bounced back as buying was witnessed in oil gas sector with stocks like BPCL, HPCL and IOC edged higher after Oil Minister Veerappa Moily said that Government will consider a request from oil marketing companies to be allowed to raise diesel prices by more than the approved 50 paise a month. Some support also came in after international crude started showing some decline after surging in last three sessions.

Sectoral indices on the NSE made a green close. CNX MNC was down by 0.28%, CNX IT was down by 0.25% and CNX Pharma was down by 0.24% remained the top loser in the trade. While, CNX Auto was up by 3.17%, CNX Realty added 2.89%, CNX Metal surged by 2.70%, CNX PSE spurted 2.53% and CNX Media spiked up by 2.50% remained the gainers in the trade.

The India VIX witnessed contraction of 9.49 % at 18.70 as compared to its previous close of 19.26 on Tuesday. The 50-share CNX Nifty gain 43.00 points or 0.75% to settle at 5,742.30.

Nifty August 2013 futures closed at 5748.30 on Wednesday at a premium of 6.00 points over spot closing of 5,742.30, while Nifty September 2013 futures ended at 5781.45 at a premium of 39.15 points over spot closing. Nifty August futures saw an addition of 1.11 million (mn) units taking the total outstanding open interest (OI) to 14.90 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 0.10 points at 33.50 compared with spot closing of 33.40. The number of contracts traded was 15,834.

DLF August 2013 futures were at a premium of 0.65 points at 158.65 compared with spot closing of 158.00. The number of contracts traded was 16,683. 

Tata Motors August 2013 futures last traded at a premium of 0.25 points at 319.65 compared with spot closing of 319.40. The number of contracts traded was 37,733.

Tata Steel August 2013 futures last traded at a premium of 1.65 points at 250.90 compared with spot closing of 249.25. The number of contracts traded was 39,763.

Yes Bank August 2013 futures were at a premium of 1.05 points at 293.05 compared with spot closing of 292.00. The number of contracts traded was 31,499. 

Among Nifty calls, 6,000 SP from the Aug month expiry was the most active call with contraction of 0.24 million open interest.

Among Nifty puts, 5,700 SP from the Aug month expiry was the most active put with an addition of 1.45 million open interest.

The maximum OI outstanding for Calls was at 6,000 SP (5.95 mn) and that for Puts was at 5,700 SP (6.02 mn).

The respective Support and Resistance levels of Nifty are: Resistance 5767.83 -- Pivot Point 5729.02 -- Support - 5703.48.

The Nifty Put Call Ratio (PCR) OI wise stood at 1.09 for August month contract.

The top five scrips with highest PCR on OI were Bharat Forg 3.00, Infosys 1.56, Wipro 1.42, Ranbaxy 1.41 and Tata Motors 1.38.

Among most active underlying, JP Associates witnessed contraction of 3.34 million of Open Interest in the Aug month futures contract followed by Reliance Communications which witnessed contraction of 0.09 million of Open Interest in the near month contract; DLF witnessed an addition of 1.16 million in the Aug month futures. Also, BHEL witnessed contraction of 0.11 million in Open Interest in the Aug month contract and Hindalco Industries witnessed contraction of 2.30 million of Open Interest in the near month futures contract.   Oil & gas shares saw heavy buying on buzz that the government may give a go-ahead to a one-time hike of Rs 2-3 per litre in diesel prices to offset the impact of fall in rupee value

Nifty extended its winning streak for the fourth consecutive session and closed at intermediate resistance level of 5,750, even as the WPI inflation rose to 5-month high. The July WPI inflation rose to 5.79 per cent in July as compared to 4.86 per cent in June. The market sentiment was boosted by data showing that foreign funds remained net buyers of Indian stocks on Tuesday, 13 August 2013. Foreign institutional investors (FIIs) bought shares worth a net Rs 227.08 crore on Tuesday, 13 August 2013, as per provisional data from the stock exchanges. The upswing in market was supported by quarterly earnings by Tata Steel whose shares jumped 3.59 per cent. The company reported better-than-expected first quarter results with consolidated net profit surging 90.51 per cent. Oil & gas shares saw heavy buying on buzz that the government may give a go-ahead to a one-time hike of Rs 2-3 per litre in diesel prices to offset the impact of fall in rupee value. A mixed trend in the Asian region and better opening in European markets amid reports that France has emerged from recession further positively influenced investor sentiment.

Index edged higher and hit their highest level in almost two weeks amid initial volatility in morning trade on hopes that the government may soon unveil fresh measures to curb rupee’s slide. Volatility ruled the roost in late morning trade as index remained positive zone after hitting intraday low as investors remained cautious on continuous decline in Indian rupee, which fell to 61.36 against the dollar in early trade against the previous close of 61.28 at the Interbank Foreign Exchange. Market sentiments were also dented by global financial services firm Credit Suisse, which revised lower the India’s economic growth forecast for the FY14 to 6 percent from 6.5 percent projected earlier. In early afternoon trade, the index gave up most of the intraday gains after the latest data showed acceleration in inflation based on the wholesale price index in July 2013. In last leg of trade, Despite ugly WPI numbers, index bounced back as buying was visible in oil gas sector with stocks like BPCL, HPCL and IOC edging higher after Oil Minister Veerappa Moily said that Government will consider a request from oil marketing companies to be allowed to raise diesel prices by more than the approved 50 paise a month. Some support also came in after international crude started showing some decline after surging in last three sessions.

 Sectoral indices on the NSE made a green close. CNX MNC was down by 0.28%, CNX IT was down by 0.25% and CNX Pharma was down by 0.24% remained the top loser in the trade. While, CNX Auto was up by 3.17%, CNX Realty added 2.89%, CNX Metal surged by 2.70%, CNX PSE spurted 2.53% and CNX Media spiked up by 2.50% remained the gainers in the trade. The India VIX witnessed contraction of 9.49 % at 18.70 as compared to its previous close of 19.26 on Tuesday. The 50-share CNX Nifty gain 43.00 points or 0.75% to settle at 5,742.30.Nifty August 2013 futures closed at 5748.30 on Wednesday at a premium of 6.00 points over spot closing of 5,742.30, while Nifty September 2013 futures ended at 5781.45 at a premium of 39.15 points over spot closing. Nifty August futures saw an addition of 1.11 million (mn) units taking the total outstanding open interest (OI) to 14.90 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 0.10 points at 33.50 compared with spot closing of 33.40. The number of contracts traded was 15,834.

DLF August 2013 futures were at a premium of 0.65 points at 158.65 compared with spot closing of 158.00. The number of contracts traded was 16,683. 

Tata Motors August 2013 futures last traded at a premium of 0.25 points at 319.65 compared with spot closing of 319.40. The number of contracts traded was 37,733.

Tata Steel August 2013 futures last traded at a premium of 1.65 points at 250.90 compared with spot closing of 249.25. The number of contracts traded was 39,763.

Yes Bank August 2013 futures were at a premium of 1.05 points at 293.05 compared with spot closing of 292.00. The number of contracts traded was 31,499. 

Among Nifty calls, 6,000 SP from the Aug month expiry was the most active call with contraction of 0.24 million open interest.

Among Nifty puts, 5,700 SP from the Aug month expiry was the most active put with an addition of 1.45 million open interest.

The maximum OI outstanding for Calls was at 6,000 SP (5.95 mn) and that for Puts was at 5,700 SP (6.02 mn).

The respective Support and Resistance levels of Nifty are: Resistance 5767.83 -- Pivot Point 5729.02 -- Support - 5703.48.

The Nifty Put Call Ratio (PCR) OI wise stood at 1.09 for August month contract.

The top five scrips with highest PCR on OI were Bharat Forg 3.00, Infosys 1.56, Wipro 1.42, Ranbaxy 1.41 and Tata Motors 1.38.

Among most active underlying, JP Associates witnessed contraction of 3.34 million of Open Interest in the Aug month futures contract followed by Reliance Communications which witnessed contraction of 0.09 million of Open Interest in the near month contract; DLF witnessed an addition of 1.16 million in the Aug month futures. Also, BHEL witnessed contraction of 0.11 million in Open Interest in the Aug month contract and Hindalco Industries witnessed contraction of 2.30 million of Open Interest in the near month futures contract.