After falling in previous five sessions, domestic index -- Nifty -- ended the Friday’s trade with the gains of above a percent. Market begun day on a somber note, as India reported 39,643 fresh Covid-19 cases on Thursday pushing the overall tally to 11,513,945, according to Worldometer. The death toll from the deadly infection jumped to 159,249. Maharashtra has recorded 25,833 new coronavirus cases, the highest one-day spike since last March when the first coronavirus infection was detected. Further, market turned volatile for some time, as Minister of State for Finance Anurag Singh Thakur said steps taken by the government to deal with COVID-19 pandemic are resulting in 'V-shaped' economic recovery and the country is likely to witness double digit growth in 2021-22.
In late afternoon session, index erased all its losses to turn positive and extended gains till the end of the session, after Moody's said India's economy is likely to grow by 12 percent in 2021 following a 7.1 percent contraction last year, as near-term prospects have turned more favourable. Domestic and external demand has been on the mend since the easing of restrictions, which has led to improved manufacturing output in recent months. Moody's expect private consumption and nonresidential investment to materially pick up over the next few quarters and strengthen the domestic demand revival in 2021.
Most of the sectoral indices ended in red except Realty. The top gainers from the F&O segment were M&MFIN, P I Industries and Tata Chemicals. On the other hand, the top losers were Trent, Indigo and PFC. In the index option segment, maximum OI continues to be seen in the 14700 - 16700 calls and 14,000 - 14,600 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 0.46% and reached 19.99. The 50 share Nifty up by 186.15 points or 1.28% to settle at 14,744.00.
Nifty March 2021 futures closed at 14753.70 (LTP) on Friday, at a premium of 9.70 points over spot closing of 14744.00, while Nifty April 2021 futures ended at 14829.50 (LTP), at a premium of 85.50 points over spot closing. Nifty March futures saw an addition of 3,543 units, taking the total open interest (Contracts) to 1,29,694 units. The near month derivatives contract will expire on March 25, 2021 (Provisional).
From the most active contracts, Reliance Industries March 2021 futures traded at a premium of 0.80 points at 2078.90 (LTP) compared with spot closing of 2078.10. The numbers of contracts traded were 68,742 (Provisional).
ITC March 2021 futures traded at a premium of 0.40 points at 223.20 (LTP) compared with spot closing of 222.80. The numbers of contracts traded were 32,129 (Provisional).
ICICI Bank March 2021 futures traded at a premium of 0.45 points at 587.45 (LTP) compared with spot closing of 587.00. The numbers of contracts traded were 27,400 (Provisional).
SBIN March 2021 futures traded at a premium of 0.35 points at 372.75 (LTP) compared with spot closing of 372.40. The numbers of contracts traded were 26,477 (Provisional).
Infosys March 2021 futures traded at a premium of 6.20 points at 1353.35 (LTP) compared with spot closing of 1347.15. The numbers of contracts traded were 24,342 (Provisional).
Among, Nifty calls, 15000 SP from the March month expiry was the most active call with a contraction of 4,265 units open interests. Among Nifty puts, 14500 SP from the March month expiry was the most active put with an addition of 17,039 units open interests. The maximum OI outstanding for Calls was at 16000 SP (55,292units) and that for Puts was at 14500 SP (57,555 units). The respective Support and Resistance levels of Nifty are: Resistance 14,795.83 -- Pivot Point 14,637.22 -- Support -- 14,399.23.
The Nifty Put Call Ratio (PCR) finally stood at (0.99) for March month contract. The top five scrips with highest PCR on PVR (1.17), Indus Tower (0.95), Hindalco (0.88), Infosys (0.85) and Vedanta (0.84).
Among most active underlying, Reliance Industries witnessed an addition of 7,972 units of Open Interest in the March month futures contract followed Tata Motors witnessed an addition of 103 units of Open Interest in the March month futures contract, SBIN witnessed an addition of 688 units of Open Interest in the March month futures contract, Tata Steel witnessed a contraction of 42 units of Open Interest in the March month futures contract and ITC witnessed an addition of 996 units of Open Interest in the March month futures contract (Provisional).