The April-June quarter growth is slower than 8.6% expansion recorded in the previous three month period. However, it is substantially higher than 6.9% growth recorded in Q1 of 2025-26. The average growth in the first two quarters of the 2026 calendar year, which faced disruptions due to the US-Iran war, stands at 8.2%. This is well above the average growth of around 7.4% recorded in the previous 10 quarters.
India’s GDP grows at 7.8% in Q1, defies US-Iran war impact – Daily Market Update 1st Sept 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 0.12% to 0.70%.
- European equity market also ended lower in range 0.80% to 1.19%.
- Majority of Asian equity markets are trading in red.
- GIFT Nifty is down by 40 points, Nifty futures likely to open around 24180 levels.
The benchmark Nifty index ended slightly lower at 24080 spot levels after a cut of 95 points from its previous closing values.
The performance on the broader front was mix as Mid cap index ended on a positive note while Small cap index was down 0.74%.
The performance on the sectoral front was no different. Among them, Nifty Media and Metal index were the worst performer, down 2.84% & 2.45% respectively followed by FMCG index that was down 1.69%. On the flip side, Pvt Bank, Healthcare and Pharma index were the top performer, rose around 1% each.
The Nifty index extended its sideways journey (24000–24380 spot zone) for the eleventh consecutive trading session. At the current juncture, the index is trading near the lower band of this congestion range. Going forward, sustained trading below 23980 spot could drag it toward 23900 spot levels, followed by 23750. Conversely, holding above 24200 spot could lead it toward the upper band of the range at 24380 spot.
Derivatives Overview & Outlook
Yesterday, Nifty futures added 3% of open interest as short buildup along with long unwinding in Midcapnifty futures that shed around 5% of open interest. On the other hand, no significant change was seen in Banknifty and Finnifty future on open interest front.
All F&O sectors, barring Automobiles & New-age, settled lower on short buildup.
On options front, put writing along with some call addition was seen at multiple OTM strikes. Maximum positions are at 24500 CE followed by 24300 CE and 24000 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 7986 Cr in the cash segment, sold index futures worth Rs 1037 Cr and bought stocks futures worth Rs 1194 Cr. DIIs were net buyers in the cash segment to the tune of Rs 4589 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24360-24500; Supports 24150-24000
Banknifty – Resistances 58100-58400; Supports 57600-57200
Finnifty – Resistances 26420-26550; Supports 26280- 26050
F&O stocks in ban today: LICHSGFIN & SAIL.
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.
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