Nifty ended last day of trading week above 15780 mark. Market made gap up opening, as traders took support with Commerce Secretary Anup Wadhawan’s statement that India's export of agricultural and allied products in 2020-21 grew by 17.34 per cent to $41.25 billion, and this growth momentum is expected to be sustained in the current fiscal as well. Market extended its gains, as traders remained optimistic with credit rating agency Icra Ratings’ report that the country's gross domestic product (GDP) will grow at 8.5 per cent in FY2021-22, with decline in number of fresh COVID-19 cases and easing of restrictions. It expects the gross value added (GVA) at basic prices (at constant 2011-12 prices) to grow at 7.3 per cent in FY2022. Traders overlooked that US think-tank has observed that India's domestic challenges due to COVID-19 crisis have become a threat to its regional and global ambitions. It warned that unless it recovers with the help of allies like the United States, the pandemic could impact the geopolitical balance in the Indo-Pacific. In late afternoon session, market maintain its gains above 15780 mark, as Centre for Monitoring Indian Economy (CMIE) in its report stated that the gradual unlocking process across India is likely to restore about two-thirds of the 25 million non-farm jobs lost following the lockdown in May. That would be 17 million out of the 25 million non-farm jobs lost during the month.
Most of the sectoral indices ended in red except IT, Metal and Pharma. The top gainers from the F&O segment were AU Small Finance Bank, Aurobindo Pharma and SAIL. On the other hand, the top losers were Bharat Forge, Tata Power and CONCOR. In the index option segment, maximum OI continues to be seen in the 15900 -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 decreased by 5.99% and reached 14.10. The 50 share Nifty up by 61.60 points or 0.39% to settle at 15,799.35.
Nifty June 2021 futures closed at 15821.15 (LTP) on Friday, at a premium of 21.80 points over spot closing of 15799.35, while Nifty July 2021 futures ended at 15870.00 (LTP), at a premium of 70.65 points over spot closing. Nifty June futures saw an addition of 9,606 units, taking the total open interest (OI) to 1,60,252 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 6.25 points at 2222.05 (LTP) compared with spot closing of 2215.80. The numbers of contracts traded were 48,080 (Provisional).
Tata Steel June 2021 futures traded at a discount of 18.90 points at 1144.20 (LTP) compared with spot closing of 1163.10. The numbers of contracts traded were 39,752 (Provisional).
Bajaj Finance June 2021 futures traded at a premium of 12.00 points at 6127.00 (LTP) compared with spot closing of 6115.00. The numbers of contracts traded were 29,447 (Provisional).
Aurobindo Pharma June 2021 futures traded at a premium of 4.95 points at 1016.95 (LTP) compared with spot closing of 1012.00. The numbers of contracts traded were 21,041 (Provisional).
Coal India June 2021 futures traded at a premium of 0.75 points at 163.00 (LTP) compared with spot closing of 162.25. The numbers of contracts traded were 19,487 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with a contraction of 1,587 units open interests. Among Nifty puts, 15700 SP from the June month expiry was the most active put with an addition of 2,970 units open interests. The maximum OI outstanding for Calls was at 16000 SP (33,128 units) and that for Puts was at 15000 SP (40,384 units). The respective Support and Resistance levels of Nifty are: Resistance 15,840.00 -- Pivot Point 15,794.90 -- Support -- 15,754.25.
The Nifty Put Call Ratio (PCR) finally stood at (1.61) for June month contract. The top five scrips with highest PCR on Titan company (1.01), PVR (0.92), Bajaj Finance (0.85), Adani Enterprises (0.80) and Wipro (0.76).
Among most active underlying, Tata Steel witnessed an addition of 3,936 units of Open Interest in the June month futures contract, Reliance Industries witnessed an addition of 6,325 units of Open Interest in the June month futures contract, Bajaj Finance witnessed an addition of 3,936 units of Open Interest in the June month futures contract, SAIL witnessed an addition of 3,144 units of Open Interest in the June month futures contract and Adani Ports witnessed an addition of 571 units of Open Interest in the June month futures contract (Provisional).