The local benchmark -- Nifty – ended flat on Friday. Market made positive start after Commerce Ministry showed that the country's exports rose by 48.34 per cent to $32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods. Further, market turned volatile even after Finance Ministry released Rs 75,000 crore to the States and Union Territories (UTs) with legislature under the back-to-back loan facility in lieu of Goods and Services Tax (GST) compensation. The release is in addition to normal GST compensation being released every 2 months out of actual cess collection. Traders also overlooked that Reserve Bank of India’s (RBI) report that the tapering of the second wave, coupled with an aggressive vaccination push, has brightened near-term prospects for the Indian economy, and the Indian economy may have grown 22.1 per cent in the April-June quarter.
Most of the sectoral indices ended in green except Auto, Media and Pharma. The top gainers from the F&O segment were Vodafone Idea, IRCTC and Nippon Life India Asset. On the other hand, the top losers were LTI, Bandhan Bank and HCL Tech. 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 4.60% and reached 11.71. The 50 share Nifty down by 0.80 points or 0.005% to settle at 15,923.40.
Nifty July 2021 futures closed at 15938.75 (LTP) on Friday, at a premium of 15.35 points over spot closing of 15923.40, while Nifty August 2021 futures ended at 15978.80 (LTP), at a premium of 55.40 points over spot closing. Nifty July futures saw a contraction of 2,591 units, taking the total open interest (OI) to 1,92,729 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 6.00 points at 2116.00 (LTP) compared with spot closing of 2110.00. The numbers of contracts traded were 31,749 (Provisional).
Wipro July 2021 futures traded at a premium of 0.10 points at 576.95 (LTP) compared with spot closing of 576.85. The numbers of contracts traded were 28,710 (Provisional).
HCL Tech July 2021 futures traded at a discount of 6.15 points at 999.85 (LTP) compared with spot closing of 1006.00. The numbers of contracts traded were 23,714 (Provisional).
Bharti Airtel July 2021 futures traded at a premium of 1.80 points at 542.75 (LTP) compared with spot closing of 540.95. The numbers of contracts traded were 18,817 (Provisional).
IRCTC July 2021 futures traded at a premium of 8.95 points at 2423.95 (LTP) compared with spot closing of 2415.00. The numbers of contracts traded were 17,665 (Provisional).
Among, Nifty calls, 16000 SP from the July month expiry was the most active call with an addition of 5,204 units open interests. Among Nifty puts, 15900 SP from the July month expiry was the most active put with an addition of 3,287 units open interests. The maximum OI outstanding for Calls was at 16000 SP (59,397 units) and that for Puts was at 15000 SP (76,295 units). The respective Support and Resistance levels of Nifty are: Resistance 15,962.90 -- Pivot Point 15,922.75 -- Support -- 15,883.25.
The Nifty Put Call Ratio (PCR) finally stood at (1.31) for July month contract. The top five scrips with highest PCR on Apollo Hospitals Enterprise (0.97), IRCTC (0.94), AU Small Finance Bank (0.90), Mindtree (0.90) and Divi's Laboratories (0.89).
Among most active underlying, Wipro witnessed an addition of 792 units of Open Interest in the July month futures contract, Bharti Airtel witnessed a contraction of 620 units of Open Interest in the July month futures contract, Tata Steel witnessed an addition of 1,154 units of Open Interest in the July month futures contract, Reliance Industries witnessed a contraction of 1,645 units of Open Interest in the July month futures contract and HCL Tech witnessed a addition of 2,578 units of Open Interest in the July month futures contract (Provisional).