Indian benchmark indices Sensex and Nifty are likely to open on a cautious note on Wednesday after six consecutive sessions of losses, with GIFT Nifty indicating only marginal gains. A deepening selloff in Asian semiconductor stocks, elevated global bond yields and Brent crude above $91 a barrel are likely to keep sentiment in check despite renewed institutional buying in Indian equities.
GIFT Nifty signals cautious start for domestic equity markets; Asian chip rout, rising crude and elevated bond yields weigh – Daily Market Update 19th Aug 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 0.22% to 1.33%.
- European equity markets ended on a flat to negative note.
- Majority of Asian equity markets are trading lower.
- GIFT Nifty is up by 40 points, Nifty futures likely to open around 24200 levels.
Nifty index drifted lower towards the gap-support zone of 24,136–24,040, which was left during the rally on July 29, 2026 and settled at 24155 spot levels after a cut of 133 points from its previous closing values.
The performance on the broader front was mix. Small cap index outperformed the benchmark as it settled on a flat note. On the other hand, Mid cap index fell inline with the benchmark, down 0.43%.
The majority of sectoral indices tracked at NSE ended in red. Among them, Nifty IT was the worst performers, down 1.93% followed by Realty and PSU Bank index that fell 1.42% & 1.01% respectively. On the flip side, Media, Auto and Chemical stocks settled higher with marginal gains.
Going ahead, we expect the index to take a halt around the gap support zone of 24136-24040 spot levels. However, a decisive break below the 24,000 spot level could drag the index further towards 23,800. On the upside, immediate resistance is placed around the 24,400–24,450 spot zone. Overall, the near-term bias is likely to remain cautious as long as the index trades below the immediate resistance zone. A sustained recovery above 24,450 could improve the short-term outlook.
Derivatives Overview & Outlook
Yesterday, short buildup was seen in Nifty, Banknifty and Midcapnifty futures with an increase in open interest by 4%, 4.1% and 2.2% respectively, whereas no significant change was observed in Finnifty futures on open interest front.
F&O sectors, barring Pharma, settled lower on short buildup.
On options front, Nifty will start the last weekly series of August contract with maximum positions at 25000 CE followed by 24500 CE and 24000 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 1652 Cr in the cash segment, sold index futures worth Rs 2029 Cr and also sold stocks futures worth Rs 1753 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 2579 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24400-24500; Supports 24100-24000
Banknifty – Resistances 57800-58100; Supports 57000-56500
Finnifty – Resistances 26250-26400; Supports 26000- 25900
F&O stocks in ban today: BANDHANBNK, SAIL, LICI & MANAPPURAM
Disclosure
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