The local benchmark -- Nifty -- ended the session at record closing high on Thursday. Market made positive start, as traders took support with private report stating IT spending in the country is expected to grow at 8 per cent to $92.7 billion in 2021. The growth at 8 percent is a shade less than the world average of 8.6 per cent and global spends on information technology are estimated to come at $4.2 trillion. Further, market added more gains with ICRA Ratings’ survey stated that around 42 percent of non-banking financial companies (NBFCs) expect a growth of more than 15 per cent in their asset under management (AUM) in fiscal 2021-22. It said NBFCs growth expectations have moderated vis-a-vis the expectations six months earlier. Index maintained its gains with rating agency Crisil’s latest report stated that the Reserve Bank of India's (RBI) insistence on companies opening current accounts with banks is among the factors that has helped large lenders such as HDFC Bank, ICICI Bank and SBI raise their shares of the competitive corporate banking market in 2020. It stated apart from the RBI rules, the government's mega merger to reduce the number of state-owned banks has also helped in the trend. Finally, Nifty ended the session above 15900 level.
Most of the sectoral indices ended in green except Auto, Media and Pharma. The top gainers from the F&O segment were LTTS, HCL Tech and AU Small Finance Bank. On the other hand, the top losers were GAIL, ONGC and Apollo Tyres. In the index option segment, maximum OI continues to be seen in the 15900 -16100 calls and 14900 -15,100 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 2.54% and reached 12.27. The 50 share Nifty up by 70.25 points or 0.44% to settle at 15,924.20.
Nifty July 2021 futures closed at 15940.00 (LTP) on Thursday, at a premium of 15.80 points over spot closing of 15924.20, while Nifty August 2021 futures ended at 15975.00 (LTP), at a premium of 50.80 points over spot closing. Nifty July futures saw an addition of 11,107 units, taking the total open interest (Contracts) to 2,01,552 units. The near month derivatives contract will expire on July 29, 2021(Provisional).
From the most active contracts, HCL Tech July 2021 futures traded at a discount of 1.55 points at 1037.50 (LTP) compared with spot closing of 1039.05. The numbers of contracts traded were 24,824 (Provisional).
Wipro July 2021 futures traded at a premium of 2.65 points at 581.00 (LTP) compared with spot closing of 578.35. The numbers of contracts traded were 23,833 (Provisional).
Infosys July 2021 futures traded at a premium of 2.10 points at 1581.95 (LTP) compared with spot closing of 1579.85. The numbers of contracts traded were 23,025 (Provisional).
L&T July 2021 futures traded at a discount of 11.25 points at 1590.00 (LTP) compared with spot closing of 1601.25. The numbers of contracts traded were 21,589 (Provisional).
LTTS July 2021 futures traded at a premium of 11.00 points at 3466.00 (LTP) compared with spot closing of 3455.00. The numbers of contracts traded were 20,041 (Provisional).
Among, Nifty calls, 16000 SP from the July month expiry was the most active call with an addition of 1,535 units open interests. Among Nifty puts, 15900 SP from the July month expiry was the most active put with an addition of 12,279 units open interests. The maximum OI outstanding for Calls was at 16000 SP (53,956 units) and that for Puts was at 15000 SP (64,091 units). The respective Support and Resistance levels of Nifty are: Resistance 15,966.03 -- Pivot Point 15,910.52 -- Support -- 15,868.68.
The Nifty Put Call Ratio (PCR) finally stood at (1.45) for July month contract. The top five scrips with highest PCR on LTTS (1.06), AU Small Finance Bank (0.97), Apollo Hospitals Enterprise (0.95), Mindtree (0.92) and Indus Tower (0.84).
Among most active underlying, Infosys witnessed an addition of 740 units of Open Interest in the July month futures contract, Wipro witnessed an addition of 1,027 units of Open Interest in the July month futures contract, L&T witnessed an addition of 1,697 units of Open Interest in the July month futures contract, HCL Tech witnessed a addition of 2,823 units of Open Interest in the July month futures contract and Tata Steel witnessed an addition of 378 units of Open Interest in the July month futures contract (Provisional).