GST panel backs Two-Slab rate structure, recommends 40% tax on luxury cars – Daily Market Update 22nd Aug 2025

Benchmark Nifty index traded in a tight range of 100 odd points on scheduled weekly expiry day, ended on a flat to positive note at 25084 spot levels after adding 33 points to its previous closing values.

Broader markets underperformed the benchmark as Mid and Small cap indices ended on a slightly negative note.

Performance on the sectoral front was mix. Pharma and Health care index provided the needed support to the bulls, gained nearly 1% each. On the other hand, FMCG index was down 0.64%.

Nifty index is likely to witness a gradual rise till it is trading above 24850 spot levels. 25200-25250 spot levels will act as immediate resistances on the higher side.

Derivatives Overview & Outlook

Yesterday, Nifty and Finnifty futures shed around 1.5% and 4.5% of open interest respectively as short covering, Midcpnifty futures added 3% of open interest as short buildup whereas no significant activity was seen in Banknifty futures on price as well as on open interest front.

Majority of sectoral indices settled on a negative note. Amongst them, Automobiles, Finance, Infrastructure and Realty stocks witnessed maximum addition of short positions whereas some long buildup was seen among Pharma stocks.

On options front, Nifty will start the new weekly contract with maximum positions at 25000 PE and 26000 CE followed by 25500 CE.

Institutional Trading Activity

Yesterday, FIIs bought stocks worth Rs 1247 Cr in the cash segment, bought index futures worth Rs 970 Cr and sold stocks futures worth Rs 984 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2546 Cr.

Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels

Nifty – Resistances 25180-25300; Supports 25000-24900

Banknifty – Resistances 56000-56300; Supports 55600-55400

Finnifty – Resistances 26720-26850; Supports 26500-26400

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