Nifty -- ended Tuesday’s session in red zone. Market made cautious start, as rating agency Crisil’s latest report stated that higher diesel prices will shave off the overall profitability of transporters despite an improvement in freight rates since last month following the withdrawal of the monsoons, consumption recovery and higher infrastructure activity. Sentiments remained downbeat, as India, speaking on behalf of the BASIC group, warned that lack of a serious approach to climate finance will jeopardise the enhanced mitigation and adaptation ambition as well as net zero pledges of parties.
However, market trimmed most it losses in last leg of the trade as traders took some support as domestic rating agency Brickwork Ratings revised its growth estimate for the country's gross domestic product (GDP) to 10-10.5 per cent in the current financial year from an earlier expectation of a 9 per cent growth. It said many economic growth indicators are suggesting a faster-than-expected revival in economic activities.
Traders were seen piling positions in Auto, IT and Media sector while selling was witnessed in Metal, Bank and FMCG sector stocks. The top gainers from the F&O segment were RBL Bank, Vodafone Idea and Aditya Birla Fashion and Retail. On the other hand, the top losers were Britannia Industries, Shriram Transport Finance and JK Cement. 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 decreased by 2.06% and reached 16.00. The 50 share Nifty down by 24.30 points or 0.13% to settle at 18,044.25.
Nifty November 2021 futures closed at 18075.25 (LTP) on Tuesday, at a premium of 31.00 points over spot closing of 18044.25, while Nifty December 2021 futures ended at 18135.00 (LTP), at a premium of 90.75 points over spot closing. Nifty November futures saw a contraction of 6,636 units, taking the total open interest (OI) to 2,04,800 units. The near month derivatives contract will expire on November 25, 2021 (Provisional).
From the most active contracts, Reliance Industries November 2021 futures traded at a premium of 4.40 points at 2533.00 (LTP) compared with spot closing of 2528.60. The numbers of contracts traded were 34,211 (Provisional).
M&M November 2021 futures traded at a premium of 2.40 points at 906.90 (LTP) compared with spot closing of 904.50. The numbers of contracts traded were 29,915 (Provisional).
TVS Motors November 2021 futures traded at a discount of 1.00 points at 729.00 (LTP) compared with spot closing of 730.00. The numbers of contracts traded were 24,477 (Provisional).
SBIN November 2021 futures traded at a premium of 1.70 points at 530.70 (LTP) compared with spot closing of 529.00. The numbers of contracts traded were 22,143 (Provisional).
Tata Motors November 2021 futures traded at a premium of 2.00 points at 513.00 (LTP) compared with spot closing of 511.00. The numbers of contracts traded were 20,244 (Provisional).
Among, Nifty calls, 18100 SP from the October month expiry was the most active call with an addition of 3,077 units open interests. Among Nifty puts, 18000 SP from the October month expiry was the most active put with a contraction of 3,128 units open interests. The maximum OI outstanding for Calls was at 19000 SP (44,833 units) and that for Puts was at 17500 SP (46,540 units). The respective Support and Resistance levels of Nifty are: Resistance 18,110.22 -- Pivot Point 18,046.63 -- Support -- 17,980.67.
The Nifty Put Call Ratio (PCR) finally stood at (1.08) for October month contract. The top five scrips with highest PCR on Dalmia Bharat (1.36), Balkrishna Industries (1.14), Canara Bank (0.91), Bandhan Bank (0.83) and ACC (0.80).
Among most active underlying, Tata Power witnessed an addition of 284 units of Open Interest in the October month futures contract, Tata Motors witnessed an addition of 390 units of Open Interest in the October month futures contract, TVS Motors witnessed an addition of 1,283 units of Open Interest in the October month futures contract, Reliance Industries witnessed an addition of 5,585 units of Open Interest in the October month futures contract and M&M witnessed an addition of 3,857 units of Open Interest in the October month futures contract (Provisional).