The local benchmark -- Nifty -- ended the session on flat note on Monday. Market made positive start, as Central Board of Direct Taxes (CBDT) said the net personal income and corporate taxes collection grew 74 per cent to Rs 5.70 lakh crore so far this fiscal, driven mainly by advance tax and TDS payments. Further, market turned volatile, as RBI data showed the country's foreign exchange reserves declined by $1.47 billion to $639.642 billion in the week ended September 17. Besides, Union Finance Minister Nirmala Sitharaman said despite the huge thrust on financial inclusion and high economic activity, there are districts in the country not having any banking presence at all. Traders overlooked Union Finance Minister Nirmala Sitharaman statement that the Indian economy is on a sustained path of revival and cited rise in GST collections and direct taxes to support her assertion.
Most of the sectoral indices ended in green except IT, FMCG and Pharma. The top gainers from the F&O segment were Maruti Suzuki, Indian Hotels Company and Adani Enterprises. On the other hand, the top losers were LTI, HCL Tech and Mindtree. 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 18.05% and reached 6.67. The 50 share Nifty up by 1.90 points or 0.01% to settle at 17,855.10.
Nifty September 2021 futures closed at 17862.00 (LTP) on Monday, at a premium of 6.90 points over spot closing of 17855.10, while Nifty October 2021 futures ended at 17901.50 (LTP), at a premium of 46.40 points over spot closing. Nifty September futures saw a contraction of 4,153 units, taking the total open interest (OI) to 2,37,044 units. The near month derivatives contract will expire on September 30, 2021(Provisional).
From the most active contracts, Reliance Industries September 2021 futures traded at a discount of 2.55 points at 2524.45 (LTP) compared with spot closing of 2527.00. The numbers of contracts traded were 59,546 (Provisional).
Maruti Suzuki September 2021 futures traded at a discount of 1.00 points at 7399.00 (LTP) compared with spot closing of 7400.00. The numbers of contracts traded were 33,195 (Provisional).
HDFC Bank September 2021 futures traded at a discount of 3.00 points at 1622.00 (LTP) compared with spot closing of 1625.00. The numbers of contracts traded were 26,267 (Provisional).
Tata Motors September 2021 futures traded at a premium of 0.00 points at 331.00 (LTP) compared with spot closing of 331.00. The numbers of contracts traded were 22,494 (Provisional).
SBIN September 2021 futures traded at a premium of 1.05 points at 447.05 (LTP) compared with spot closing of 446.00. The numbers of contracts traded were 20,768 (Provisional).
Among, Nifty calls, 17900 SP from the September month expiry was the most active call with an addition of 34,208 units open interests. Among Nifty puts, 17700 SP from the September month expiry was the most active put with an addition of 4,548 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 17,933.73 -- Pivot Point 17,868.32 -- Support -- 17,793.13.
The Nifty Put Call Ratio (PCR) finally stood at (0.96) for September month contract. The top five scrips with highest PCR on DLF (0.96), ZEEL (0.93), Escorts (0.87), IRCTC (0.87) and Voltas (0.84)
Among most active underlying, Reliance Industries witnessed an addition of 5,958 units of Open Interest in the September month futures contract, Maruti Suzuki witnessed an addition of 1,899 units of Open Interest in the September month futures contract, HDFC Bank witnessed a contraction of 18 units of Open Interest in the September month futures contract, Tata Steel witnessed a contraction of 1,988 units of Open Interest in the September month futures contract and Adani Enterprises witnessed an addition of 353 units of Open Interest in the September month futures contract (Provisional).
