Nifty ended Thursday’s session with gains of above half a percent. Market made a positive start with data released by the Department for Promotion of Industry and Internal Trade (DPIIT) showing that India had attracted a total foreign direct investments (FDI) inflow of $6.24 billion in April, up by 38 per cent year-on-year. Market continued its fine fettle trade, as Finance Minister Nirmala Sitharaman said the government will actively pursue cases against economic offenders to bring back defrauded money of banks. Traders ignored report that S&P Global Ratings has slashed India's Gross domestic product (GDP) growth forecast to 9.5 percent for the current fiscal (FY21), from 11 percent earlier, and warned of risk to the outlook from further waves of COVID pandemic. It lowered the growth outlook saying that a severe second COVID-19 outbreak in April and May led to lockdowns imposed by states and sharp contraction in economic activity.
In late afternoon session, market added more points to touch intraday high point as traders remained optimistic after the government has notified the accounting standards for small and medium companies that revise the turnover and borrowing limits as well as help in making disclosure requirements less onerous. Finally, Nifty ended the session above 15750 mark.
Most of the sectoral indices ended in green except Media, Pharma and PSU Bank. The top gainers from the F&O segment were COFORGE, Infosys and TCS. On the other hand, the top losers were Reliance Industries, Torrent Power and Vodafone Idea. In the index option segment, maximum OI continues to be seen in the 15900 -17000 calls and 14500 -15,800 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 1.74% and reached 15.10. The 50 share Nifty up by 103.50 points or 0.66% to settle at 15,790.45.
Nifty July 2021 futures closed at 15839.10 (LTP) on Thursday, at a premium of 48.65 points over spot closing of 15790.45, while Nifty August 2021 futures ended at 15880.35 (LTP), at a premium of 89.90 points over spot closing. Nifty July futures saw an addition of 70,486 units, taking the total open interest (OI) to 1,88,858 units. The near month derivatives contract will expire on July 29, 2021 (Provisional).
From the most active contracts, Reliance Industries July 2021 futures traded at a premium of 15.15 points at 2162.95 (LTP) compared with spot closing of 2147.80. The numbers of contracts traded were 1,63,332 (Provisional).
Infosys July 2021 futures traded at a premium of 5.25 points at 1561.35 (LTP) compared with spot closing of 1556.10. The numbers of contracts traded were 32,832 (Provisional).
SBIN July 2021 futures traded at a premium of 2.45 points at 420.70 (LTP) compared with spot closing of 418.25. The numbers of contracts traded were 25,806 (Provisional).
ITC July 2021 futures traded at a premium of 1.05 points at 205.00 (LTP) compared with spot closing of 203.95. The numbers of contracts traded were 24,121 (Provisional).
HDFC Bank July 2021 futures traded at a premium of 3.45 points at 1509.50 (LTP) compared with spot closing of 1506.05. The numbers of contracts traded were 23,305 (Provisional).
Among, Nifty calls, 16000 SP from the July month expiry was the most active call with an addition of 3,066 units open interests. Among Nifty puts, 15000 SP from the July month expiry was the most active put with an addition of 7,615units open interests. The maximum OI outstanding for Calls was at 16000 SP (31,212 units) and that for Puts was at 15500 SP (49,839 units). The respective Support and Resistance levels of Nifty are: Resistance 15,840.33 -- Pivot Point 15,771.52 -- Support -- 15,721.63.
The Nifty Put Call Ratio (PCR) finally stood at (1.39) for July month contract. The top five scrips with highest PCR on Trent (2.96), Alembic Pharmaceuticals (1.45), Manappuram Finance (1.15), Indus Towers (1.11) and BPCL (1.11)
Among most active underlying, Reliance Industries witnessed an addition of 63,466 units of Open Interest in the July month futures contract, Infosys witnessed an addition of 14,131 units of Open Interest in the July month futures contract, Tata Steel witnessed an addition of 8,782 units of Open Interest in the July month futures contract, TCS witnessed an addition of 5,010 units of Open Interest in the July month futures contract and HDFC Bank witnessed an addition of 5,093 units of Open Interest in the July month futures contract (Provisional).