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Nifty ends above 17500 mark on Thursday

Nifty December 2021 futures closed at 17602.00 (LTP) on Thursday, at a premium of 65.75 points over spot closing of 17536.25

S&P CNX – Nifty ended the Thursday’s session above 17500 mark. Reliance Industries pushed the index higher. Among sectors, a strong rally was seen in Nifty IT, media and pharma indices. Market made cautious start and turned volatile, with report indicating that foreign institutional investors (FIIs) have been on a selling spree in India this financial year, with November seeing an outflow of over Rs 17,900 crore in the equity cash market, taking the net outflow in the segment since April to almost Rs 87,000 crore. However, in late morning trade market added point to trade higher, as traders took support with a private report stating that Official data print on the GDP will show a 7.8 per cent expansion on a year-on-year basis for the September 2021 quarter. Also, Moody’s expects India's economic growth to rebound strongly, pegging GDP growth of 9.3% and 7.9% in fiscal year 2022 (ending on 31 March 2022) and fiscal 2023, respectively. Further, index continued the gaining momentum with foreign secretary Harsh Vardhan Shringla’s statement that India has set an ambitious target of $400 billion of exports for the year 2021-22. Finally, nifty ended the session with the gains above half a percent.

Most of the sectoral indices ended in green except Bank, Auto and Financial Services. The top gainers from the F&O segment were Laurus Labs, IBULHSGFIN and Vedanta. On the other hand, the top losers were Metropolis Healthcare, Indigo and Siemens. In the index option segment, maximum OI continues to be seen in the 17450 -17800 calls and 17300 -17650 puts indicating this is the trading range expectation.


India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 2.52% and reached 16.66. The 50 share Nifty up by 121.20 points or 0.70% to settle at 17,536.25.

Nifty December 2021 futures closed at 17602.00 (LTP) on Thursday, at a premium of 65.75 points over spot closing of 17536.25, while Nifty January 2022 futures ended at 17670.55 (LTP) , at a premium of 134.30 points over spot closing. Nifty December futures saw an addition of 65,066 units, taking the total open interest (OI) to 2,15,443 units. The near month derivatives contract will expire on December 30, 2021 (Provisional).

From the most active contracts, Reliance Industries December 2021 futures traded at a premium of 3.70 points at 2504.70 (LTP) compared with spot closing of 2501.00. The numbers of contracts traded were 1,07,830 (Provisional).

Tata Steel December 2021 futures traded at a premium of 6.00 points at 1179.50 (LTP) compared with spot closing of 1173.50. The numbers of contracts traded were 46,947 (Provisional).

Infosys December 2021 futures traded at a premium of 8.00 points at 1730.50 (LTP) compared with spot closing of 1722.50. The numbers of contracts traded were 44,699 (Provisional).

SBIN December 2021 futures traded at a premium of 2.40 points at 494.40 (LTP) compared with spot closing of 492.00. The numbers of contracts traded were 39,916 (Provisional).

ICICI Bank December 2021 futures traded at a premium of 1.80 points at 754.40 (LTP) compared with spot closing of 752.60. The numbers of contracts traded were 33,937 (Provisional).

Among, Nifty calls, 17600 SP from the December month expiry was the most active call with a contraction of 25,597 units open interests. Among Nifty puts, 17500 SP from the December month expiry was the most active put with an addition of 67,449 units open interests. The maximum OI outstanding for Calls was at 17600 SP (1,04,072 units) and that for Puts was at 17500 SP (1,31,932 units). The respective Support and Resistance levels of Nifty are: Resistance 17,616.50 -- Pivot Point 17,484.10 -- Support -- 17,403.85.

The Nifty Put Call Ratio (PCR) finally stood at (1.39) for December month contract. The top five scrips with highest PCR on Crompton Greaves Consumer Electricls (1.32), Shriram Transport Finance Company (1.07), Whirlpool Of India (1.02), Escorts (0.99) and Nestle India (0.95).

Among most active underlying, Reliance Industries witnessed an addition of 27,158 units of Open Interest in the December month futures contract,  ICICI Bank witnessed an addition of 14,764 units of Open Interest in the December month futures contract, SBIN witnessed an addition of 21,396 units of Open Interest in the December month futures contract, Bharti Airtel witnessed an addition of 6,674 units of Open Interest in the December month futures contract and ITC witnessed an addition of 16,580 units of Open Interest in the December month futures contract (Provisional).