Nifty closed at 5,896.75, after edging above the key 5,900 levels, on heavy FII buying in bluechips on the back of positive factors like strong rupee, solid trade data and receding concerns about US military's strike on Syria. Upbeat Chinese economic data and lower oil prices also boosted global markets, help index to extend gains.
Extending northward journey to fourth day in a row, index made a gap-up opening above its crucial 5,800 bastion, supported by firm global cues. In late morning trade, index extended gains and hit six-week high as the rupee rose to a two-week high on receding geopolitical risks from Syria. Early afternoon trade, Index hit fresh intraday high on the back of buying witnessed in Telcom stock on report of TRAI recommendations of a 40-60 per cent cut in spectrum reserve prices, flat spectrum charges and spectrum trading. In last leg off trade, Index continued upward march and hit 5900 level on the back of better than expected trade deficit numbers for the month of August. The trade deficit fell to $10.91 billion in August from $12.27 billion in the previous month.
All sectoral indices on the NSE traded in green. CNX Auto was up by 5.98%, CNX FMCG was up by 5.38%, CNX Infra was up by 4.91%, CNX MNC was up by 4.55% and CNX Finance was up by 3.55% were remained gainers in the trade. While, there was no loser in the trade.
The India VIX witnessed an addition of 2.75% at 29.44 as compared to its previous close of 28.65 on Friday. The 50-share CNX Nifty gain 216.35 points or 3.81% to settle at 5,896.75.
Nifty September 2013 futures closed at 5907.15 on Tuesday at a premium of 10.40 points over spot closing of 5,896.75, while Nifty October 2013 futures ended at 5936.35 at a premium of 39.60 points over spot closing. Nifty September futures saw an addition of 2.04 million (mn) units taking the total outstanding open interest (OI) to 20.12 mn units. The near month September 2013 derivatives contract will expire on September 26, 2013.
From the most active contracts, Tata Motors September 2013 futures last traded at a premium of 0.50 points at 349.50 compared with spot closing of 349.00. The number of contracts traded was 26,677.
HDFC Bank September 2013 futures last traded at a premium of 5.70 points at 641.00 compared with spot closing of 635.30. The number of contracts traded was 14,865.
Yes Bank September 2013 futures last traded at a premium of 2.15 points at 308.15 compared with spot closing of 306.00. The number of contracts traded was 26,297.
ICICI Bank September 2013 futures last traded at a premium of 1.15 points at 971.15 compared with spot closing of 970.00. The number of contracts traded was 29,810.
Larsen & Toubro September 2013 futures were at a discount of 5.80 points at 801.05 compared with spot closing of 806.85. The number of contracts traded was 16,999. Among Nifty calls, 6,000 SP from the Sep month expiry was the most active call with an addition of 0.79 million open interest.
Among Nifty puts, 5,300 SP from the Sep month expiry was the most active put with contraction of 0.38 million open interest.
The maximum OI outstanding for Calls was at 6,000 SP (3.98mn) and that for Puts was at 5,300 SP (6.45 mn).
The respective Support and Resistance levels of Nifty are: Resistance 5955 -- Pivot Point 5846.6 -- Support - 5788.35.
The Nifty Put Call Ratio (PCR) OI wise stood at 1.64 for September month contract.
The top five scrips with highest PCR on OI were, Mcleodruss 44.43, CESC 10.00, Finan Tech 2.30, Ind Hotel 2.25 and Coal India 1.99.
Among most active underlying, SBI witnessed an addition of 0.14 million of Open Interest in the Sep month futures contract followed by United Spirits contraction of 0.02 million Open Interest in the near month contract; ICICI Bank witnessed contraction of 0.43 million of Open Interest in the Sep month futures. Also, Reliance Industries witnessed contraction of 0.36 million in Open Interest in the Sep month contract and Axis Bank witnessed contraction of 1.22 million in Open Interest in the near month futures contract.
