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Nifty resumes northward journey on Thursday

Nifty June 2021 futures closed at 15753.10 (LTP) on Thursday, at a premium of 15.35 points over spot closing of 15737.75

NSE gauge -- Nifty50 -- resumed its northward journey on Thursday. Market made positive start, as Finance Ministry said it has released third monthly instalment of revenue deficit grant of Rs 9,871 crore to 17 states. With the release of this instalment, total Rs 29,613 crore has been released in the first three months of the current financial year as Post Devolution Revenue Deficit (PDRD) Grant to states. Further, index continued the gaining monument, as traders took support with Finance Ministry report that faster vaccine coverage and frontloading of fiscal measures announced in this year's budget would be the major factors in boosting the investment and consumption cycles and, in turn, reviving the economy, as economic activities have slowed down amid the second wave of Covid-19 and lockdowns across states. Market added more points in late afternoon session, after Department of Economic Affairs (DEA) in its monthly report has said that the economic impact of the second wave COVID-19 is likely to be restricted to the first quarter of 2022. As per the DEA, rapid vaccination of India's population and the frontloading of the fiscal measures are the key to invigorating investment and consumption. Finally, Nifty ended the session with the gains above half a percent.

Most of the sectoral indices ended in green except Auto. The top gainers from the F&O segment were Bajaj Finance, Dr. Lal PathLabs and Indiabulls Housing Finance. On the other hand, the top losers were Bajaj-Auto, ITC and CONCOR. In the index option segment, maximum OI continues to be seen in the 15600 -16500 calls and 13500 -15,300 puts indicating this is the trading range expectation.


India Volatility Index (VIX), a gauge for market’s short term expectation of volatility increased by 1.69% and reached 15.00. The 50 share Nifty up by 102.40 points or 0.65% to settle at 15,737.75.

Nifty June 2021 futures closed at 15753.10 (LTP) on Thursday, at a premium of 15.35 points over spot closing of 15737.75, while Nifty July 2021 futures ended at 15804.00 (LTP), at a premium of 66.25 points over spot closing.  Nifty June futures saw an addition of 12,345 units, taking the total open interest (OI) to 1,54,879 units. The near month derivatives contract will expire on June 24, 2021 (Provisional).

From the most active contracts, Bajaj Finance June 2021 futures traded at a premium of 27.20 points at 6137.00 (LTP) compared with spot closing of 6109.80. The numbers of contracts traded were 46,602 (Provisional).

Reliance Industries June 2021 futures traded at a premium of 2.30 points at 2187.10 (LTP) compared with spot closing of 2184.80. The numbers of contracts traded were 43,200 (Provisional).

Indiabulls Housing Finance June 2021 futures traded at a premium of 0.80 points at 280.40 (LTP) compared with spot closing of 279.60. The numbers of contracts traded were 23,577 (Provisional).

SBIN June 2021 futures traded at a premium of 0.70 points at 433.10 (LTP) compared with spot closing of 432.40. The numbers of contracts traded were 20,072 (Provisional).

Tata power June 2021 futures traded at a discount of 1.35 points at 126.20 (LTP) compared with spot closing of 127.55. The numbers of contracts traded were 16,719 (Provisional).

Among, Nifty calls, 15800 SP from the June month expiry was the most active call with a contraction of 1,752 units open interests. Among Nifty puts, 15700 SP from the June month expiry was the most active put with an addition of 4,682 units open interests. The maximum OI outstanding for Calls was at 16000 SP (31,905 units) and that for Puts was at 15000 SP (40,226 units). The respective Support and Resistance levels of Nifty are: Resistance 15,776.50 -- Pivot Point 15,712.50 -- Support -- 15,673.75.

The Nifty Put Call Ratio (PCR) finally stood at (1.63) for June month contract. The top five scrips with highest PCR on Titan company (0.98), PVR (0.96), Bajaj Finance (0.90), Piramal Enterprises (0.86) and Adani Enterprises (0.80).

Among most active underlying, Bajaj Finance witnessed an addition of 3,936 units of Open Interest in the June month futures contract, Reliance Industries witnessed an addition of 6,325 units of Open Interest in the June month futures contract, Indiabulls Housing Finance witnessed an addition of 3,144  units of Open Interest in the June month futures contract, Tata Power witnessed a contraction of 66 units of Open Interest in the June month futures contract and Tata Steel witnessed an addition of 571 units of Open Interest in the June month futures contract (Provisional).