Nifty ended Monday’s session on higher note with gains of over half a percent. Market made positive start and soon slipped into red zone amid reports that even though the retail inflation rate fell to a five-month low of 4.35 per cent in September, there was concern on the part of reputed agencies, from the International Monetary Fund (IMF) to Nomura, and companies over inflationary pressure. The wholesale price inflation (WPI) rate came down in September to the level seen in April, but remained elevated at 10.7 per cent. Further, in afternoon trade, index wiped out all its losses to trade into positive territory, as traders took support with State Bank of India (SBI) Chairman Dinesh Kumar Khara’s statement that India is ready to move into the next orbit of growth with the hugely successful implementation of the COVID-19 vaccination program. Market extended its gains till the end, as Reserve Bank of India (RBI) in its latest report showed that India's forex reserves have increased by $1.919 billion to $642.019 billion for the week ended October 29 on a healthy increase in the currency assets and value of gold. Finally, Nifty ended above its crucial 18000 mark.
Most of the sectoral indices ended in green except Bank, Pharma and Healthcare Index. The top gainers from the F&O segment were Whirlpool of India, Muthoot Finance and JK Cement. On the other hand, the top losers were Divi's Laboratories, SUNTV and IndusInd Bank. In the index option segment, maximum OI continues to be seen in the 18900 -19200 calls and 17200 -17700 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 3.76% and reached 16.34. The 50 share Nifty up by 151.75 points or 0.85% to settle at 18,068.55.
Nifty November 2021 futures closed at 18138.00 (LTP) on Monday, at a premium of 69.45 points over spot closing of 18068.55, while Nifty December 2021 futures ended at 18193.00 (LTP), at a premium of 124.45 points over spot closing. Nifty November futures saw an addition of 12,412 units, taking the total open interest (Contracts) to 2,19,010 units. The near month derivatives contract will expire on November 25, 2021 (Provisional).
From the most active contracts, SBIN November 2021 futures traded at a premium of 2.90 points at 526.50 (LTP) compared with spot closing of 523.60. The numbers of contracts traded were 39,322 (Provisional).
Reliance Industries November 2021 futures traded at a premium of 14.00 points at 2516.90 (LTP) compared with spot closing of 2502.90. The numbers of contracts traded were 37,017 (Provisional).
IndusInd Bank November 2021 futures traded at a premium of 7.05 points at 1071.00 (LTP) compared with spot closing of 1063.95. The numbers of contracts traded were 34,967 (Provisional).
ICICI Bank November 2021 futures traded at a premium of 3.00 points at 784.95 (LTP) compared with spot closing of 781.95. The numbers of contracts traded were 22,186 (Provisional).
Infosys November 2021 futures traded at a premium of 0.25 points at 1740.25 (LTP) compared with spot closing of 1740.00. The numbers of contracts traded were 21,777 (Provisional).
Among, Nifty calls, 18200 SP from the October month expiry was the most active call with an addition of 1,896 units open interests. Among Nifty puts, 18000 SP from the October month expiry was the most active put with an addition of 11,252 units open interests. The maximum OI outstanding for Calls was at 19000 SP (43,278 units) and that for Puts was at 17500 SP (49,633 units). The respective Support and Resistance levels of Nifty are: Resistance 18,158.87 -- Pivot Point 17,997.48 -- Support -- 17,907.17.
The Nifty Put Call Ratio (PCR) finally stood at (1.17) for October month contract. The top five scrips with highest PCR on Dalmia Bharat (1.54), Balkrishna Industries (1.32), Canara Bank (0.88), Bandhan Bank (0.86) and Abbott India (0.82).
Among most active underlying, IndusInd Bank witnessed an addition of 5,048 units of Open Interest in the October month futures contract, SBIN witnessed an addition of 2,555 units of Open Interest in the October month futures contract, ICICI Bank witnessed an addition of 8,001 units of Open Interest in the October month futures contract, Reliance Industries witnessed an addition of 7,163 units of Open Interest in the October month futures contract and Tata Motors witnessed an addition of 1,787 units of Open Interest in the October month futures contract (Provisional).