Sashidhar Jagdishan, the chief executive officer and managing director of India’s largest private-sector lender HDFC, has decided not to seek reappointment, the bank said in a regulatory filing. He will retire on October 26. HDFC Bank’s board tried to convince him to continue as the financial institution’s chief executive. He, however, conveyed his decision to retire.
HDFC CEO Sashidhar Jagdishan not seeking extension, to retire on October 26 – Daily Market Update 31st Aug 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 0.018% to 0.52%.
- European equity market ended higher.
- Asian equity markets are trading with a negative bias.
- GIFT Nifty is down by 80 points, Nifty futures likely to open around 24220 levels.
The benchmark Nifty index traded sideways and ended with marginal gains to settle at 23176 spot levels after adding 85 points to its previous closing values.
The broader markets performed in line with the benchmark as Mid and and Small cap indices settled on a flat to positive note.
The performance on the sectoral front was largely mix and muted. Among them, Nifty IT was at the top of the tally, gained over 3.5% followed by Metal index that rose 0.75%. On the flip side, Chemicals and Cement index were the worst performer, fell 0.7% & 0.56% respectively.
Technically, Nifty index is hovering in a narrow range (24025-24380 spot zone) for past 10 trading sessions. A break on either side of this range is essential for next short term directional move in that direction. A cross and sustenance above 24380-24400 spot zone could lead the index towards 24700-24800 spot levels in near term; conversely, a sustained trading below 24000 spot could drag the index towards 23800 followed by 23600 spot levels.
Derivatives Overview & Outlook
Last Friday, Nifty futures added around 3% of open interest as long positions; Midcapnifty futures settled 0.4% higher, without any significant change in open interest. On the other hand, no significant changes were observed in Banknifty & Finnifty futures on price front.
Performance on the sectoral front was mix. Long buildup was seen among Auto, Metals and Pharma stocks whereas some short buildup was observed among Capital Goods and Realty stocks.
On option front, put addition along with call unwinding was seen at multiple strikes. Maximum positions are at 24300 CE followed by 24500 CE and 24000 PE closely followed by 24100 PE.
Institutional Trading Activity
Last week, FIIs bought stocks worth Rs 1955 Cr in the cash segment, sold index futures worth Rs 6018 Cr also sold stock futures worth Rs 391 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 19309 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24500-24600; Supports 24200-24100
Banknifty – Resistances 58200-58800; Supports 57300-57000
Finnifty – Resistances 26600-26700; Supports 26400- 26300
F&O stocks in ban today: LICHSGFIN & SAIL.
Disclosure
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