GIFT Nifty pointed to a sharp gap-down opening for Indian equities on Thursday, trading at 23,260 and indicating a decline of 189.80 points. The signal came as investors assessed a sharp rise in US Treasury yields, higher crude prices and expectations of further Federal Reserve rate increases.
GIFT Nifty indicates to gap-down open for the domestic equity markets; Brent Crude holds above $103 a barrel – Daily Market Update 24th Sept 2026
Overview and Outlook
Global Stock Market Today
- US equity markets ended lower in range 0.68% to 1.13%.
- European equity markets ended on a flat to negative note.
- Asian equity markets are trading mix.
- GIFT Nifty is down by 160 points, Nifty futures likely to open around 23280 levels.
The benchmark Nifty index settled slightly higher at 23447 spot levels after adding 118 points to its previous closing values in an otherwise lackluster trading session where neither bulls nor bears were able to drive the market in their direction.
The Small cap indices slightly outperformed the benchmark as it gained 0.89%, on the other hand, Mid cap index moved inline with the benchmark.
The majority of sectoral indices, tracked at NSE, ended in green. Among them, Nifty Metal was at the top of the tally, gained 2.40% followed by FMCG, PSU Bank and Cement index that gained over 1% each. On the flip side, IT and Media index were the worst performers, down 0.87% & 0.5% respectively.
Technically, the upside seems capped as long as the index trades below the 23,500–23,600 spot zone on a closing basis. A decisive fall below the 23,300 spot level could drag it back to the 23,000–23,100 support zone in the near term.
Derivatives Overview & Outlook
Yesterday, Banknifty and Finnifty futures rose on short covering as both shed around 2% of open interest. No significant change was observed in Nifty and Midcap Nifty futures on price as well as on open interest front.
The majority of sectoral indices ended in green. Among them, Banking, Capital Goods, Finance and New-Age stocks witnessed maximum addition of long positions. On the other hand, short buildup was seen among IT stocks.
On options front, put writing was seen at multiple strikes along with call addition at OTM strikes. Maximum positions are at 23000 PE followed by 23400 PE and 24000 CE followed by 23500 CE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 1617 Cr in the cash segment, bought index futures worth Rs 679 Cr and also bought stocks futures worth Rs 349 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 2341 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23500-23600; Supports 23350-23200
Banknifty – Resistances 56800-57160; Supports 56300-56000
Finnifty – Resistances 25700-25760; Supports 25450- 25300
F&O stocks in ban today:Kaynes Tech, LIC Housing Finance, Manappuram Finance, SAIL
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