Asian stocks got off to a rocky start on Friday as the drag from chipmakers weighed on global equity indexes. Chip stocks pulled the Nasdaq and the S&P 500 lower on Thursday as they continued to lead broader market moves despite generally upbeat U.S. economic data and a strong start to second-quarter earnings season.
GIFT Nifty indicates a flat start for domestic markets amid weak Asian equity markets – Daily Market Update 17th July 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 0.20% to 1.47%.
- European equity markets, barring FTSE, ended on a negative note.
- Majority of asian equity markets are trading in red.
- GIFT Nifty is little changed, Nifty futures is likely to open around 24080 levels.
The benchmark Nifty index again traded in a narrow range and settled on a flat note at 24073 spot levels.
The performance was no different on the broader front as both Mid and Small cap indices ended on a flat to negative note.
Performance on the sectoral front was mix. Among them, Nifty Consumer Durables, Chemicals and Media index were the top performers, rose 1% to 1.48%. On the flip side, Fin Services Ex-banks and Realty were the worst performers, down around 1% each.
Technically, the benchmark Nifty index once again settled within the confluence zone of its 50-day and 100-day EMAs. Going ahead, we reiterate our sideways view on Nifty index as long as the index remains in 23960-24260 spot zone on closing basis. A decisive close above 24260 could lead it towards 24550 spot levels, conversely, fall below 23960 spot could drag it back to 23800 spot levels in near term.
Derivatives Overview & Outlook
Yesterday, short buildup was seen in Banknifty & Finnifty futures with an increase in open interest by around 3% & 14% respectively whereas some short covering was seen in Nifty futures that shed around 4.5% of open interest. On the other hand, no significant change was seen in Midcapnifty futures on price as well as on open interest front.
On the sectoral front, Banking, Finance, Pharma, Power and Realty stocks witnessed maximum addition of short positions along with some long unwinding in New-age stocks. Chemicals and Textile stocks rose on short covering.
On options front, call writing along with some put addition was seen at multiple OTM strikes. Maximum positions are at 24200 CE and 23000 PE closely followed by 23300 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 4206 Cr in the cash segment, bought index futures worth Rs 1994 Cr and also bought stocks futures worth Rs 1308 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2986 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24200-24300; Supports 23900-23700
Banknifty – Resistances 58400-58800; Supports 57400-57000
Finnifty – Resistances 26900-27000; Supports 26550- 26400
F&O stocks in ban today: Kaynes
Important Results Today: FEDERALBNK, HAVELLS, JSWSTEEL, OBEROIRLTY, RELIANCE, TATATECH & RBLBANK
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates. AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited are the associates of GCML.
This report has been prepared by GCML and published in accordance with the provisions of Regulation 19 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, for use by the recipient as information only and is not for general circulation or public distribution. This report is not to be altered, transmitted, reproduced, copied, redistributed, uploaded, published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from GCML. The projections and the forecasts described in this report are based on estimates and assumptions and are inherently subject to significant uncertainties and contingencies. Projections and forecasts are necessarily speculative in nature, and it can be expected that one or more of the estimates on which the projections are forecasts were based may not materialize or may vary significantly from actual results and such variations will likely increase over the period of time. This report should not be construed as an offer to sell or the solicitation of an offer to buy, purchase or subscribe to any securities, and neither this report nor anything contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. It does not constitute a personal recommendation or take into account the particular investment objective, financial situation or needs of any individual in particular. The research analysts of GCML have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. The recipients of this report must make their own investment decisions, based on their own investment objectives, financial situation or needs and other factors. The recipients should consider and independently evaluate whether it is suitable for its/ his/ her/their particular circumstances and if necessary, seek professional / financial advice as there is substantial risk of loss. GCML does not take any responsibility thereof.
Any such recipient shall be responsible for conducting his/her/its/their own investigation and analysis of the information contained or referred to in this report and of evaluating the merits and risks involved in securities forming the subject matter of this report. The price and value of the investment referred to in this report and income from them may go up as well as down, and investors may realize profit/loss on their investments. Past performance is not a guide for future performance. Actual results may differ materially from those set forth in the projection GC does not take any responsibility thereof. This report has been prepared by GCML based on the information available in the public domain and other public sources believed to be reliable. Though utmost care has been taken to ensure its accuracy and completeness, no representation or warranty, express or implied is made by GCML that such information is accurate or complete and/or is independently verified. The contents of this report represent the assumptions and projections of GCML and GCML does not guarantee the accuracy or reliability of any projection, assurances or advice made herein. Nothing in this report constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients’ specific circumstances.
Since GCML or its associates are engaged in various financial activities, they might have financial interest or beneficial ownership in various companies including subject company/companies mentioned in the report. GCML or its associates have not received any compensation for investment banking or merchant banking from the subject company in the past 12 months. GCML or its associates might have received any compensation including brokerage services and for products or services other than investment banking or merchant banking from the subject company in the past 12 months. It is confirmed that GCML or research analyst or its associates have not managed or co-managed public offering of securities for the subject company in the past 12 months. Research analyst or GCML or its relatives’/associates’ have no material conflict of interest at the time of publication of this report. Neither research analyst nor GCML are engaged in market making activity for the subject company. It is confirmed that research analysts do not serve as an officer, director or employee of the subject company. It is also confirmed that research analyst have not received any compensation from the subject company in the past 12 months.
The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. This information is subject to change, as per applicable law, without any prior notice. GCML reserves the right to make modifications and alternations to this statement, as may be required, from time to time.
Research analyst or GCML or its relatives’/associates’ do not have actual/beneficial ownership of 1% or more in securities of the subject company, at the end of the month immediately preceding the date of publication of the document. Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Our research analysts may use AI tools to collect, summarize, and present data in order to increase productivity and enhance the clarity and readability of our reports. However, all reports are subject to human review prior to finalization and distribution to end users.
Our published research reports are the property of GCML and its associate and subsidiary companies. These reports may not be copied, reproduced, distributed or otherwise used by any other brokerage or individual firm without the prior written permission of GCML or its associate/subsidiary companies.