In his latest attack on BRICS countries, US President Donald Trump has defended his tariff move by claiming that the organisation is “an attack on the dollar”.
Trump’s comments came during a meeting with Argentine Prime Minister Javier Milei at the White House, where he also heaped praise on Milei for taking initiatives to rebuild the Argentine economy.
Global Stock Market Today
Benchmark Nifty index ended slightly lower at 25146 spot levels after a cut of 82 points from its previous closing values.
Broader markets underperformed the benchmark as Mid and Small cap indices were down 0.75% & 0.89% respectively.
All sectoral indices, tracked at NSE, ended in red. Amongst them, PSU Bank index was the worst hit, down 1.52% followed by Media, Metal, Consumer Durables that were down around 1% each.
Nifty index is trading in a congestion range (25000-25350 spot zone) for past couple of sessions. We continue to uphold our cautiously bullish stance on Nifty index till it is holding above 25000 spot levels in closing basis. On the flip side, cross and sustenance above 25350-25400 spot zone hold the key for further up move towards 25675 spot levels in near term.
Derivatives Overview & Outlook
Yesterday, Nifty, Finnifty and Midcapnifty futures added around 4%, 27% and 2% of open interest respectively as short buildup along with some long unwinding in Banknifty futures with decrease in open interest by 4.5%.
All F&O sectors settled on a negative note. Amongst them, Infrastructure, Pharma, and Technology stocks witnessed maximum addition of short positions along with some long unwinding in Auto stocks.
On option front, Nifty will start the new weekly contract of October series with a maximum position at 26000 CE followed by 26500 CE and 24000 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1509 Cr in the cash segment, sold index futures worth Rs 1652 Cr also sold stocks futures worth Rs 3888 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3661 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25250-25380; Supports 25100-25000
Banknifty – Resistances 56800-57000; Supports 56400-56100
Finnifty – Resistances 27000-27120; Supports 26800-26700
F&O Security in Ban Today: RBLBANK & SAMMAAN CAPITAL
Important Results Today: ANGELONE, AXISBANK, DELTACORP, HDFCAMC, HDFCLIFE, IRFC, LTF, OBEROIRLTY, TATACOMM.
Disclosure
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