The local benchmark -- Nifty -- ended the session in green zone for straight second day. Market made cautious start and turned volatile for little time after US has said India remains a challenging place to do business, and urged it to foster an attractive and reliable investment climate by reducing barriers to investment and minimising the bureaucratic hurdles. However, in afternoon session market added gains to trade higher, as traders found support after Information and Broadcasting Minister Anurag Thakur said the Union Cabinet has approved Rs 6,322-crore production linked incentive scheme for specialty steel, a move aimed at boosting domestic manufacturing and exports from the sector. Index continued the gaining monument with report that India has significantly improved its ranking in terms of trade facilitation due to various reforms undertaken by various departments especially customs under the Central Board of Indirect Taxes (CBIC). India has scored 90.32 per cent in United Nation's Economic and Social Commission for Asia Pacific's (UNESCAP) latest Global Survey on Digital and Sustainable Trade Facilitation. Finally, Nifty ended the session above 15850 mark.
All the sectoral indices ended in green except Media and Auto. The top gainers from the F&O segment were Jubilant FoodWorks, Mphasis and Indiabulls Housing Finance. On the other hand, the top losers were ICICI Lombard General Insurance, Indus Towers and Vodafone Idea. In the index option segment, maximum OI continues to be seen in the 15900 -16100 calls and 14900 -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 1.03% and reached 11.76. The 50 share Nifty up by 32.00 points or 0.20% to settle at 15,856.05.
Nifty July 2021 futures closed at 15845.00 (LTP) on Friday, at a discount of 11.05 points over spot closing of 15856.05, while Nifty August 2021 futures ended at 15888.00 (LTP), at a premium of 31.95 points over spot closing. Nifty July futures saw an addition of 3,865 units, taking the total open interest (Contracts) to 1,71,271 units. The near month derivatives contract will expire on July 29, 2021 (Provisional).
From the most active contracts, Bharti Airtel July 2021 futures traded at a discount of 0.20 points at 546.60 (LTP) compared with spot closing of 546.80. The numbers of contracts traded were 38,336 (Provisional).
ICICI Bank July 2021 futures traded at a discount of 3.30 points at 673.10 (LTP) compared with spot closing of 676.40. The numbers of contracts traded were 34,210 (Provisional).
Reliance Industries July 2021 futures traded at a discount of 2.00 points at 2102.00 (LTP) compared with spot closing of 2104.00. The numbers of contracts traded were 32,100 (Provisional).
SBIN July 2021 futures traded at a premium of 1.30 points at 429.80 (LTP) compared with spot closing of 428.50. The numbers of contracts traded were 26,188 (Provisional).
ITC July 2021 futures traded at a discount of 0.05 points at 212.40 (LTP) compared with spot closing of 212.45. The numbers of contracts traded were 26,104 (Provisional).
Among, Nifty calls, 16000 SP from the July month expiry was the most active call with an addition of 36,307 units open interests. Among Nifty puts, 15800 SP from the July month expiry was the most active put with an addition of 44,109 units open interests. The maximum OI outstanding for Calls was at 16000 SP (1,23,513 units) and that for Puts was at 1500 SP (1,17,040 units). The respective Support and Resistance levels of Nifty are: Resistance 15,914.43 -- Pivot Point 15,841.42 -- Support -- 15,783.03.
The Nifty Put Call Ratio (PCR) finally stood at (1.01) for July month contract. The top five scrips with highest PCR on Jubilant FoodWorks (1.24), Bajaj Finserv (1.09), Apollo Hospitals Enterprise (1.06), ACC (9.93) and Wipro (0.89).
Among most active underlying, Bharti Airtel witnessed an addition of 914 units of Open Interest in the July month futures contract, ICICI Bank witnessed an addition of 1,955 units of Open Interest in the July month futures contract, Tata Steel witnessed an addition of 1,955 units of Open Interest in the July month futures contract, JSW Steel witnessed an addition of 1,955 units of Open Interest in the July month futures contract and ITC witnessed an addition of 723 units of Open Interest in the July month futures contract (Provisional).