Oil prices are on track for a strong weekly gain as the US prepares fresh economic measures against Iran, raising concerns that further disruption to energy supplies could tighten an already strained global market. Brent crude traded above $93 a barrel on Friday and was heading for a weekly rise of more than 5%. West Texas Intermediate for October delivery eased towards $86 a barrel, but remained on track to extend a five-session winning streak.
Brent Crude above $93 as US prepares new Iran sanctions – Daily Market Update 21st Aug 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 0.87% to 1.32%.
- European equity markets ended on a flat to negative note.
- Majority of Asian equity markets are trading higher.
- GIFT Nifty is little changed, Nifty futures likely to open around 24325 levels.
The benchmark Nifty index opened with a gap on the higher side and settled at 24232 spot levels after adding 154 points to its previous closing values in a lackluster trading session.
The broader markets performed inline with the benchmark as Mid and Small cap index gained 0.41% & 0.68% respectively.
All sectoral indices, barring Nifty Chemicals that fell 0.5%, settled in green. Among them, Nifty Media and Realty were at the top of the tally, gained 2.13% & 1.41% respectively followed by FMCG, IT and Pvt Bank index that rose around 0.85% each.
Nifty index bounced back from the price support of 24000 spot levels after filling the gap left while rallying on July 29, 2026. Going ahead, cross and sustenance above 24250 spot could lead it towards 24400-24450 spot levels in immediate near term that will act as a strong resistance zone on the higher side. Overall chart structure is still sideways as long as we are consolidating in 23600-24700 spot zone on closing basis.
Derivatives Overview & Outlook
Yesterday, Nifty and Finnifty futures added around 2% and 1% of open interest respectively as long buildup along with short covering in Banknifty and Midcapnifty futures that shed 1% and 2.5% of open interest respectively.
All F&O sectors, barring Chemical, settled higher on short covering along with some long buildup in Metals stocks.
On options front, put writing along with call unwinding was seen at multiple OTM strikes. Maximum positions are at 24500 CE followed by 25000 CE and 24000 PE closely followed by 24200 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 583 Cr in the cash segment, sold index futures worth Rs 363 Cr and bought stocks futures worth Rs 3243 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3538 Cr. Lo
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24450-24550; Supports 24200-24100
Banknifty – Resistances 57900-58200; Supports 57300-57000
Finnifty – Resistances 26400-26500; Supports 26150- 26000
F&O stocks in ban today: BANDHANBNK, SAIL & MANAPPURAM
Disclosure
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