S&P CNX Nifty ended the Friday’s session in red. After a cautious start, index traded in green in morning deals, as traders found support with union Minister Anurag Singh Thakur’s statement that financial inclusion is a top priority for the government and that promoting financial education would help in realising the collective potential. However, Market failed to hold gains and entered into negative territory, as the Reserve Bank lowered the country's growth projection for the current financial year to 9.5 percent from 10.5 percent estimated earlier, amid uncertainties created by the second wave of the coronavirus pandemic. Index continued its weak trade till the end of the session, as Reserve Bank of India’s (RBI's) Monetary Policy Committee has kept policy rates unchanged once again at its bi-monthly review. The Repo rate has been maintained at 4% while the reverse repo rate is at 3.35%. Policy stance has been maintained at accommodative by the central bank in an effort to maintain liquidity in the system as the country continues to recover from the covid-19 pandemic and its economic implications. Finally, Nifty ended the session below 15700 mark.
Traders were seen piling positions in Auto, IT and Media sector while selling was witnessed in Bank, Pharma and PSU Bank sector stocks. The top gainers from the F&O segment were Indiabulls Housing Finance, Adani Enterprises and Bharat Forge. On the other hand, the top losers were RBL Bank, Marico and Nestle India. In the index option segment, maximum OI continues to be seen in the 15600 -16500 calls and 13500 -15,300 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility increased by 1.23% and reached 15.94. The 50 share Nifty down by 20.10 points or 0.13% to settle at 15,670.25.
Nifty June 2021 futures closed at 15699.00 (LTP) on Friday, at a premium of 28.75 points over spot closing of 15670.25, while Nifty July 2021 futures ended at 15759.00 (LTP), at a premium of 88.75 points over spot closing. Nifty June futures saw an addition of 2,036 units, taking the total open interest (OI) to 1,41,590 units. The near month derivatives contract will expire on June 24, 2021 (Provisional).
From the most active contracts, Reliance Industries June 2021 futures traded at a premium of 4.80 points at 2191.70 (LTP) compared with spot closing of 2186.90. The numbers of contracts traded were 31,702 (Provisional).
Adani Enterprises June 2021 futures traded at a premium of 2.50 points at 1708.50 (LTP) compared with spot closing of 1706.00. The numbers of contracts traded were 29,246 (Provisional).
SBIN June 2021 futures traded at a premium of 2.00 points at 436.30 (LTP) compared with spot closing of 434.30. The numbers of contracts traded were 26,347 (Provisional).
Bharat Forge June 2021 futures traded at a premium of 3.65 points at 753.50 (LTP) compared with spot closing of 749.85. The numbers of contracts traded were 25,789 (Provisional).
Indiabulls Housing Finance June 2021 futures traded at a premium of 1.35 points at 264.50 (LTP) compared with spot closing of 263.15. The numbers of contracts traded were 23,784 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with an addition of 2,522 units open interests. Among Nifty puts, 15500 SP from the June month expiry was the most active put with an addition of 4,221 units open interests. The maximum OI outstanding for Calls was at 16000 SP (34,665 units) and that for Puts was at 15000 SP (44,695 units). The respective Support and Resistance levels of Nifty are: Resistance 15,728.45 -- Pivot Point 15,675.40 -- Support -- 15,617.20.
The Nifty Put Call Ratio (PCR) finally stood at (1.61) for June month contract. The top five scrips with highest PCR on Adani Enterprises (1.70), PVR (1.08), Hindustan Petroleum Corporation (0.97), Muthoot Finance (0.91) and Titan Company (0.82).
Among most active underlying, Adani Enterprises witnessed an addition of 416 units of Open Interest in the June month futures contract, Bharat Forge witnessed an addition of 1,464 units of Open Interest in the June month futures contract, Tata Motors witnessed an addition of 2,392 units of Open Interest in the June month futures contract, Indiabulls Housing Finance witnessed an addition of 3,588 units of Open Interest in the June month futures contract and Adani Ports witnessed an addition of 897 units of Open Interest in the June month futures contract (Provisional).