India and the European Union chief negotiators have concluded another round of talks on the proposed free trade agreement in New Delhi and agreed to reach a deal in two phases, according to an official. “The 11th round of talks concluded on May 16,” the official said. The talks focused on areas like market access offers in goods, services, and investment.
India and European Union conclude another round of talks on free trade pact- Daily Market Update 19th May 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 0.5% to 0.70%.
- European equity markets ended on a flat to positive note.
- Asian equity markets are trading lower.
- GIFT Nifty is little changed, Nifty futures likely to open around 25050 levels.
Benchmark Nifty index settled marginally lower at 25020 levels after a cut of 42 points from its previous closing values.
Broader markets outperformed the benchmark as Mid and Small cap indices rose 0.94% & 1.86% respectively.
Majority of sectoral indices, tracked at NSE, ended in green. Amongst them, Realty index was at the top of the tally, gained 1.63% followed by Media, FMCG, Consumer Durables, Auto and Oil & Gas index that rose in range 0.5% to 1.11%. On the flip side, IT index dragged the indices lower, fell 0.84%.
Technically, Nifty index is well placed on multiple time frames and poised for further up move in near term. Going ahead, we reiterate our bullish view on Nifty index intact and suggest traders to maintain buy on dips trading approach till it is holding above 24480 spot levels and expect it to test 25500 spot levels in near term.
Derivatives Overview & Outlook
Last Friday, no significant change was seen in Nifty and Midcapnifty futures on open interest front, Finnifty futures added around 1.5% of open interest as long buildup along with some short covering in Banknifty futures that shed around 4% of open interest.
All sectoral indices, barring Pharma and Technology, settled higher. Amongst them, Capital Goods, Chemical and Telecom stocks witnessed maximum addition of long positions while some short covering was seen in Cement and Textile stocks.
On option front, put writing along with some call addition was seen at multiple strikes. Maximum positions are at 25000 PE and 26000 CE followed by 25500 CE.
Institutional Trading Activity
Last week, FIIs bought stocks worth Rs 13285 Cr in the cash segment, sold index futures worth Rs 3034 Cr and bought stocks futures worth Rs 4556 Cr. DIIs were net buyers in the cash segment to the tune of Rs 9557 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25200-25400; Supports 25000-24800
Banknifty – Resistances 55500-55700; Supports 55200-55000
Finnifty – Resistances 26600- 26800; Supports 26200-26000
F&O Security in Ban Today: MANAPPURAM, HINDCOPPER & TITAGARH.
Important Results Today: BEL, DLF, GUJGASLTD, JKPAPER, NLCINDIA, PIIND, PETRONET, POWERGRID, ZYDUSWELL.
Disclosure
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