The chief negotiators of the US and India will begin four-day talks here on Monday on finalising the details of the interim trade pact, whose framework was agreed upon in February. The US team will be led by its chief negotiator Brendan Lynch. India’s chief negotiator is Darpan Jain, who is an additional secretary in the Department of Commerce.
India, US chief negotiators to hold four-day trade talks from June 1 in New Delhi – Daily Market Update 1st June 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to positive note.
- European equity markets ended on a flat to negative note.
- Majority of Asian equity markets are trading in green.
- GIFT Nifty is up by 50 points, Nifty futures is likely to open around 23750 levels.
The benchmark Nifty index ended sharply lower at the 23,548 spot level on Friday, down 360 points from its previous close amid MSCI rebalancing.
Performance on the broader front was mix. Mid cap index fell in line with the benchmark while small cap index outperformed the benchmark, down 0.85% against 1.5% decline in the frontline index.
All sectoral indices, barring IT, ended in red. Amongst them, Nifty Oil & Gas, Metal index were the worst performer, down 2.47% & 2.02% respectively followed by Auto, Healthcare, Consumer Durables, Pharma, FMCG and Chemicals index that were down over 1.5% each.
Technically, the Nifty index is going through a downward-sloping consolidation phase, facing immediate resistance in the 24,000–24,200 spot zone and support in the 23,250–23,000 spot zone. A decisive break on either side of this range will spark the next short-term directional move, with the upcoming RBI policy potentially acting as the main trigger point.
Derivatives Overview & Outlook
Last Friday, Nifty, Banknifty and Finnifty futures added around 17%, 3% and 24.5% of open interest respectively as short buildup, whereas Midcapnifty futures was up around 1.5% without any change in open interest.
All F&O sectors, barring Technology, settled on a negative note. Amongst them, Auto, Banking, Capital Goods, Finance and Oil & Gas stocks witnessed maximum addition of short positions along with some long unwinding among Chemical and Textile stocks.
On option front, both call writing along with some put addition was seen at multiple OTM strikes. Maximum positions are at 24000 CE followed by 25000 CE and 23000 PE followed by 23200 PE.
Institutional Trading Activity
Last week, FIIs sold stocks worth Rs 18436 Cr in the cash segment, bought stocks futures worth Rs 2030 Cr and sold index futures worth Rs 9260 Cr. DIIs were net buyers in the cash segment to the tune of Rs 25803 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23900-24050; Supports 23600-23500
Banknifty – Resistances 55000-55200; Supports 54400-54100
Finnifty – Resistances 25750-25900; Supports 25500- 25480
F&O stocks in ban today: SAIL
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