Oil fell a second day, tracking a plunge in equity markets and other risk assets on concerns tariffs and other measures will stunt growth in the world’s largest economy.
Brent crude dropped to near $69 a barrel after sliding 1.5% on Monday while West Texas Intermediate declined below $66. Investors retreated from every type of risk on Monday with economic fear racing across markets as US President Donald Trump presses on with tariff measures and geopolitical shakeups.
Global Stock Market Today
Nifty Overview & Outlook
Benchmark Nifty index failed to hold the higher levels and settled at 22460 levels after a cut of 92 points from its previous closing values.
Broader markets underperformed the benchmark as Mid and Small cap index fell 1.53% & 1.97% respectively.
All sectoral indices, barring FMCG, settled lower. Nifty Realty, Oil & Gas, PSU bank and Auto index were the worst performers, fell in range 1% to over 2%.
Technically, Nifty index entered to gap zone left by it while falling on Feb 24, 2025 thereafter selling pressure caused by Asian and European pears pushed it lower. On levels front, 22400-22300 zone will act as immediate supports on the down side while positional supports are still placed around 21800-21680 levels.
Derivatives Overview & Outlook
Yesterday, Nifty and Finnifty future fell on long unwinding as open interest shed by 1.3% and 4.9% respectively, on the other hand, Banknifty futures fell on short buildup as it added around 8% of open interest while no significant change was seen in Midcapnifty futures on open interest front.
All of F&O sectors settled lower. Amongst them, IT, Realty, Power and Oil & Gas stocks witnessed maximum addition of short positions along with some long unwinding among Cement and Metal stocks.
On option front, call writing along with some put addition was seen at multiple strikes. Maximum positions are at 22000 PE and 23000 CE closely followed by 22700 CE. Put Call ratio once again fell below 1 during previous trading session which is a negative sign.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 485 Cr in the cash segment, sold index futures worth Rs 502 Cr and also sold stocks futures worth Rs 1304 Cr. DIIs were net buyers in the cash segment to the tune of Rs 264 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 22600-22700; Supports 22420-22350
Banknifty – Resistances 48600-48800; Supports 48000-47800
Finnifty – Resistances 23180- 23220; Supports 22980-22900
F&O Security in Ban Today: BSE, HINDCOPPER & MANAPPURAM.
Disclosure
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