India’s wholesale price inflation reached an 11-month high of 2.13% in February, driven by increased costs of primary goods like food and non-food articles. Economists anticipate further acceleration due to rising input costs and ongoing geopolitical tensions, with manufacturing products also showing a slight increase.
India’s wholesale inflation rises to 11-month high of 2.13% in February- Daily Market Update 17th March 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 0.83% to 1.22%.
- European equity markets ended on a flat to positive note.
- Asian equity markets are trading higher.
- GIFT Nifty is up by 115 points, Nifty futures likely to open around 23500 levels.
The benchmark Nifty index ended higher at 23409 spot levels after adding 258 points to its previous closing values.
Broader markets underperformed the benchmark as Mid and Small cap indices ended on a flat to negative note.
Performance on the sectoral front was mix. Amongst them, Auto, Financial Services, FMCG and Private Banks were the top gainers, rose over 1% each. On the other hand, Pharma, Realty, Oil & Gas and Healthcare index were the top losers, down over 1% each.
Nifty index witnessed a technical bounce back from the gap support zone of 23200-22800 spot levels. Going ahead, the ongoing bounce back move is likely to face resistance in 23500-23800 spot zone. Volatility is still on the higher side. Any de-escalation will boost investors sentiments that will lead towards a sustainable up move.
Derivatives Overview & Outlook
Yesterday, Finnifty and Midcapnifty futures rose on long buildup, added 3.8% & 1.3% of open interest respectively along with some short covering in Nifty futures as it shed 6.5% of open interest. On the other hand, Banknifty futures rose 1.2% without any significant change in the open interest.
Performance on the sectoral front was mix. Amongst them, long buildup was seen among Automobile, Cement and Textile stocks whereas some short buildup were observed among Oil & Gas, Realty and Technology Stocks along with some long unwinding among Chemical stocks.
On option front, both put and call addition were seen at multiple strikes. Maximum positions are at 24000 CE followed by 24500 CE and 22000 PE followed by 23000 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 9366 Cr in the cash segment, bought index futures worth Rs 1784 Cr also bought stocks futures worth Rs 556 Cr. DIIs were net buyers in the cash segment to the tune of Rs 12593 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23600-23800; Supports 23200-23050
Banknifty – Resistances 54800-55200; Supports 54000-53600
Finnifty – Resistances 25600-25800; Supports 25350- 25200
F&O stocks in ban today – SAIL, SAMMAANCAP
Disclosure
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