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Nifty ends higher on Friday; reclaims 24100 mark

December 6, 2024 01:32 AM

Overview

Nifty December 2024 futures closed at 24318.25 (LTP) on Friday, at a premium of 187.15 points over spot closing of 24131.10

Detail

Indian equity benchmark -- Nifty -- ended Friday’s trading session in positive terrain led by gains in heavyweight stocks. Index made a slightly positive start, as traders took support with Commerce and Industry Minister Piyush Goyal’s statement that President-elect Donald Trump is a ‘friend of India’ and India-US friendship will only continue to blossom and grow further. The minister also said he does not foresee any problems in the Indo-US partnership, and exuded confidence that it would further strengthen with the new administration taking over in Washington. 

In afternoon session, index extended its gains to trade near day’s high point and remained higher till end of the day, as sentiments remained optimistic, amid a private report stating that revenue collections of states, as percentage of their gross domestic product, are budgeted to beat the pre-Covid level in 2024-25 on the back of projected improvement in their own revenue streams as well as central transfers. Adding more relief, the Ministry of Petroleum & Natural Gas in its latest notification has said that government has been taking various steps to ensure fair and reasonable prices for consumers. 

Most of the sectorial indices ended in green except PSU Bank and Realty stocks. The top gainers from the F&O segment were Adani Green Energy, Adani Energy Solutions and Housing and Urban Development Corporation. On the other hand, the top losers were Poonawalla Fincorp, Colgate-Palmolive (India) and Oil India. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 5.12% and reached 14.43. The 50 share Nifty up by 216.95 point or 0.91% to settle at 24,131.10.

Nifty December 2024 futures closed at 24318.25 (LTP) on Friday, at a premium of 187.15 points over spot closing of 24131.10, while Nifty January 2025 futures ended at 24477.80 (LTP), at a premium of 346.70 points over spot closing. Nifty December futures saw a contraction of 9,290 units, taking the total open interest (Contracts) to 4,62,137 units. The near month derivatives contract will expire on December 26, 2024. (Provisional) 

From the most active contracts, Reliance Industries December 2024 futures traded at a premium of 9.00 points at 1300.50 (LTP) compared with spot closing of 1291.50. The numbers of contracts traded were 47,667. (Provisional) 

Bharti Airtel December 2024 futures traded at a premium of 11.05 points at 1640.05 (LTP) compared with spot closing of 1629.00. The numbers of contracts traded were 31,065. (Provisional) 

HDFC Bank December 2024 futures traded at a premium of 9.20 points at 1804.70 (LTP) compared with spot closing of 1795.50. The numbers of contracts traded were 30,465. (Provisional) 

Adani Ports and Special Economic Zone December 2024 futures traded at a premium of 8.50 points at 1196.00 (LTP) compared with spot closing of 1187.50. The numbers of contracts traded were 27,455. (Provisional) 

Mahindra And Mahindra December 2024 futures traded at a premium of 20.95 points at 2994.55 (LTP) compared with spot closing of 2973.60. The numbers of contracts traded were 26,969. (Provisional)

Among, Nifty calls, 24500 SP from the December month expiry was the most active call with a contraction 12,314 units open interests. Among Nifty puts, 24000 SP from the December month expiry was the most active put with an addition of 13,571 units open interests. The maximum OI outstanding for Calls was at 26000 SP (1,66,079 units) and that for Puts was at 24000 SP (2,28,217 units). The respective Support and Resistance levels of Nifty are: Resistance 24,237.32 -- Pivot Point 24,082.23 -- Support 23,976.02. 

The Nifty Put Call Ratio (PCR) finally stood at (1.28) for December month contract. The top five scrips with highest PCR on Sona Blw Precision Forgings (17.63), Max Healthcare Institute (3.45), Bosch (2.51), Indian Bank (1.87) and KPIT Technologies (1.57).

Among most active underlying, Reliance Industries witnessed a contraction of 393 units of Open Interest in the December month future, HDFC Bank witnessed an additional of 901 units of Open Interest in the December month future, Bharti Airtel witnessed an additional of 3,311 units of Open Interest in the December month futures, Adani Enterprises witnessed an additional of 2,552 units of Open Interest in the December month futures and ICICI Bank witnessed an additional of 440 units of Open Interest in the  December month futures. (Provisional)