India on Wednesday banned sugar exports with immediate effect until September 30, 2026, or until further orders, the government said in a notification, as the world’s second-largest sugar producer tries to rein in local prices. The move is likely to support global white and raw sugar prices, while allowing rival producers Brazil and Thailand to boost shipments to Asian and African buyers.
India bans sugar exports until September 2026 to cool local prices- Daily Market Update 14th May 2026
Overview and Outlook
Global Stock Market Today
- US equity markets, barring Dow Jones, settled higher.
- European equity markets ended on a flat to positive note.
- Majority of asian equity markets are trading in green.
- GIFT Nifty is up by 120 points, Nifty futures is likely to open around 23550 levels.
The benchmark Nifty index ended slightly higher at 23413 spot levels after adding just 33 points to its previous closing values.
The broader markets marginally outperformed the benchmark as Mid and Small cap indices gained 0.77% & 0.31% respectively.
Majority of sectoral indices, tracked at NSE, ended in green. Amongst them, Nifty Metal was at the top of the tally, rose over 3% followed by Consumer Durables and Oil & Gas index that rose 1.67% & 1.28% respectively. On the flip side, Nifty IT and Auto were at the bottom of the tally, down nearly 1% each.
Technically, Nifty index is trading in the gap zone created while rising on April 8, 2026. Moving forward, we reiterate our sell on rise trading approach as long as Nifty index remains below 23650 spot levels on closing basis. On the lower side, 23150-23000 spot levels will act as an immediate support.
Derivatives Overview & Outlook
Yesterday, Midcapnifty futures added 1.2% of open interest as long buildup, whereas no significant changes were observed among Nifty, Banknifty and Finnifty futures on open interest as well as price front.
Majority of F&O sectors settled on a positive note. Amongst them, long buildup was seen among Capital Goods, FMCG, Power and Finance stocks whereas some short buildup was seen among Auto and Technology stocks.
On option front, both put writing along with some call writing was seen at multiple OTM strikes. Maximum positions are at 24000 CE followed by 24500 CE and 23000 PE followed by 22500 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 4703 Cr in the cash segment, sold index futures worth Rs 128 Cr and bought stocks future worth Rs 2079 Cr. DIIs were net buyers to the tune of Rs 5869 Cr in the cash segment.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23620-23800; Supports 23400-23300
Banknifty – Resistances 54000-54400; Supports 53200-52800
Finnifty – Resistances 25400-25500; Supports 25100- 25000
F&O stocks in ban today: SAIL
Important Results Today: APOLLOTYRE, CHALET, CHAMBLFERT, DATAPATTNS, GESHIP, HAL, HUDCO, IRFC, UNITDSPR & VOLTAS.
Disclosure
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