Japan’s economy expanded 1.1% in the second quarter on an annualized basis, missing expectations for 2% growth as softer domestic demand offset strong exports. The figure was compared to the 2.1% in the previous quarter. This is the first full quarter to include the impact of the Iran war, which has brought energy prices higher for business and households.
Japan second-quarter GDP grows 1.1% on an annualized basis, missing expectations – Daily Market Update 17th Aug 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to negative note.
- European equity markets, barring DAX, ended slightly lower.
- Majority of Asian equity markets are trading in green.
- GIFT Nifty is little changed, Nifty futures likely to open around 24400 levels.
The Nifty index once again traded sideways and settled on a flat note after a lackluster session, with neither bulls nor bears able to gain control.
The broader markets underperformed the benchmark as Mid and Small cap indices fell 0.74% & 0.69% respectively.
The majority of sectoral indices, barring Media and Consumer Durables, ended in red. Among them, Nifty Pharma, Metal and cement pack were down in range 0.50% to just below 1%. On the flip side, Media and Consumer Durables gained 0.96% & 0.76% respectively.
Technically, Nifty is hovering around the confluence zone of its 100-day and 200-day Exponential Moving Averages (EMA). Immediate price support lies around the 24,130–24,000 spot levels, while resistance is capped at 24,620–24,700 spot levels. Given the current chart structure and a lack of fresh triggers, we expect Nifty to remain range-bound within the 24,000–24,700 zone short term. Consequently, we advise traders to maintain a stock- and sector-specific trading approach.
Derivatives Overview & Outlook
Last Friday, Nifty and Finnifty futures added 1.4% and 1.9% of open interest respectively as short buildup, whereas no significant change was observed in Banknifty and Midcapnifty futures on open interest front.
Majority of sectoral indices settled lower. Among them, Finance and Realty stocks witnessed maximum addition of short positions along with some long unwinding in Oil & Gas stocks, whereas some long buildup was seen in Textile stocks.
On options front, put writing along with some call unwinding was seen at multiple OTM strikes. Maximum positions are at 25000 CE followed by 24500 CE and 24000 PE followed by 24300 PE.
Institutional Trading Activity
Last week, FIIs bought stocks worth Rs 3186 Cr in the cash segment, sold index futures worth Rs 4269 Cr and also sold stock futures worth Rs 283 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 9286 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24550-24620; Supports 24350-24240
Banknifty – Resistances 58100-58350; Supports 57400-57000
Finnifty – Resistances 26550-26675; Supports 26200- 26100
F&O stocks in ban today: BANDHANBNK, SAIL, LICI & MANAPPURAM
Disclosure
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