The European Union and the US are progressing toward an agreement that would set a 15% tariff for most products, according to diplomats briefed on the negotiations.
Member states could be ready to accept a 15% tariff and EU officials are pushing to have that cover sectors including cars, the diplomats said. Steel and aluminum imports above a certain quota would face the 50% duty, one of the diplomats added.
EU see progress toward US trade deal with 15% tariffs- Daily Market Update 24th July 2025
Overview and Outlook
Global Stock Market Today
- US equity markets ended higher in range 0.60% to 1.14%.
- European equity markets also settled higher in range 0.40% to 1.35%.
- Asian equity markets are trading with positive bias.
- GIFT Nifty is up by 50 points, Nifty futures likely to open around 25280 levels.
Tracking positive cues from the global front, benchmark Nifty index moved higher to settle at 25220 spot levels after adding 159 points to its previous closing values.
Broader markets underperformed the benchmark as Mid cap index gained 0.34% whereas Small cap index was unchanged.
Majority of sectoral indices, tracked at NSE, settled in green with modest gains of 0.25% to 0.87%. On the other hand, Realty, Media and FMCG index ended in red, down 2.6%, 0.94% & 0.52% respectively.
Technically, Nifty index is continuing its pullback rally from the lower band supports of upward sloping channel pattern i.e. 24800-24900 spot levels. Going ahead, for any sustainable up move, it needs to close above 25260-25300 resistance zone that will also act as intraday resistances on the higher side, on the other hand, intraday supports are placed around 25100-25050 spot levels.
Derivatives Overview & Outlook
Yesterday, Finnifty futures added 1.4% of open interest as long buildup along with some short covering in Nifty and Banknifty futures that shed around 1.5% and 5% of open interest respectively, while no meaningful activity was seen in Midcapnifty futures on open interest front.
All F&O sectors, barring Cement and Realty, settled on a positive note. Amongst them, Automobiles, Finance and Textile stocks witnessed maximum addition of long positions.
On the option front, put writing along with call unwinding was seen at multiple strikes. Maximum positions are at 25500 CE followed by 25200 CE and 25100 PE followed by 25200 PE. Options data turned slightly positive ahead of scheduled weekly expiry.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 4209 Cr in the cash segment, bought index futures worth Rs 760 Cr also bought stocks futures worth Rs 1261 Cr. DIIs were net buyers in the cash segment to the tune of Rs 4359 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25300-25400; Supports 25180-25080
Banknifty – Resistances 57400-57750; Supports 57000-56800
Finnifty – Resistances 27320- 27400; Supports 27100-27000
F&O Security in Ban Today: BANDHANBANK, RBLBANK & IEX
IMPORTANT RESULTS TODAY: ACC, BAJFINANCE, CANBK, IEX, MPHASIS, NESTLEIND, SBILIFE.
Disclosure
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