S&P CNX -- Nifty ended Friday’s session above 17850 mark. Market made optimistic start, as Union Road Transport and Highways Minister Nitin Gadkari said India is becoming a global investment destination and the government is committed to providing a favourable policy framework. Market extended its gains with private report stating that with higher consumer confidence following the rise in vaccination levels and sitting on already-built-up-savings through the pandemic months, the top 20 per cent of upper-income consumers will help recover the near-term consumption demand. These consumers account for the bulk of the rural and urban demand. In late afternoon session, market trimmed most of its gains but manged to trade in green zone, as Reserve Bank of India (RBI's) Deposits with Scheduled Commercial Banks - March 2021 data showed that bank deposits grew 11.9 per cent year-on-year during 2020-21 compared to 8.8 per cent in 2019-20 on the back of high growth in current account and savings account (CASA) deposits. The share of CASA deposits increased to 43.7 per cent in March 2021 compared to 41.7 per cent a year ago.
Traders were seen piling positions in Bankex, Auto and IT sector while selling was witnessed in Metal, FMCG and Media sector stocks. The top gainers from the F&O segment were Indus Tower, Vodafone Idea and Tata Chemicals. On the other hand, the top losers were Dr. Lal PathLabs, Tata Steel and Apollo Hospitals. In the index option segment, maximum OI continues to be seen in the 18300 -18650 calls and 16900 -17150 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 16.92% and reached 1.92. The 50 share Nifty up by 30.25 points or 0.17% to settle at 17,853.20.
Nifty September 2021 futures closed at 17848.80 (LTP) on Friday, at a discount of 4.40 points over spot closing of 17853.20, while Nifty October 2021 futures ended at 17879.20 (LTP), at a premium of 26.00 points over spot closing. Nifty September futures saw an addition of 573 units, taking the total open interest (Contracts) to 2,46,837 units. The near month derivatives contract will expire on September 30, 2021 (Provisional).
From the most active contracts, Bharti Airtel September 2021 futures traded at a discount of 1.15 points at 741.75 (LTP) compared with spot closing of 742.90. The numbers of contracts traded were 39,500 (Provisional).
Reliance Industries September 2021 futures traded at a premium of 3.50 points at 2482.50 (LTP) compared with spot closing of 2479.00. The numbers of contracts traded were 37,814 (Provisional).
HDFC Bank September 2021 futures traded at a premium of 2.55 points at 1602.05 (LTP) compared with spot closing of 1599.50. The numbers of contracts traded were 29,985 (Provisional).
Tata Steel September 2021 futures traded at a premium of 0.75 points at 1267.75 (LTP) compared with spot closing of 1267.00. The numbers of contracts traded were 26,703 (Provisional).
Infosys September 2021 futures traded at a discount of 2.10 points at 1761.70 (LTP) compared with spot closing of 1763.80. The numbers of contracts traded were 24,936 (Provisional).
Among, Nifty calls, 18000 SP from the September month expiry was the most active call with an addition of 35,634 units open interests. Among Nifty puts, 17800 SP from the September month expiry was the most active put with an addition of 17,033 units open interests. The maximum OI outstanding for Calls was at 18500 SP (1,12,984 units) and that for Puts was at 17000 SP (97,130 units). The respective Support and Resistance levels of Nifty are: Resistance 17,927.43 -- Pivot Point 17,873.42 -- Support -- 17,799.18.
The Nifty Put Call Ratio (PCR) finally stood at (1.12) for September month contract. The top five scrips with highest PCR on Bajaj Finserv (1.02), ZEEL (0.96), DLF (0.94), Voltas (0.89) and Escorts (0.89).
Among most active underlying, Bharti Airtel witnessed an addition of 5,103 units of Open Interest in the September month futures contract, Tata Steel witnessed a contraction of 401 units of Open Interest in the September month futures contract, Infosys witnessed an addition of 1,405 units of Open Interest in the September month futures contract, HDFC Bank witnessed an addition of 2,001 units of Open Interest in the September month futures contract, Reliance Industries witnessed an addition of 4,649 units of Open Interest in the September month futures contract (Provisional).
