The Lebanon ceasefire is meant to pave the way for negotiations on a permanent peace accord between the two countries.
President Donald Trump said Israel and Lebanon will extend their ceasefire by three weeks, a move that creates space to work on a long-term deal and removes a roadblock to ending the US war with Iran. Trump announced the deal in a social-media post after meeting Israeli and Lebanese envoys in the Oval Office on Thursday.
Global Stock Market Today
The benchmark Nifty index ended lower at 24173.05 spot levels, shed 205.05 points from its previous closing values.
The broader markets moved in line with the benchmark as Mid and Small cap indices declined 0.71% & 0.67% respectively.
The majority of sectoral indices, tracked at NSE, ended in red. Amongst them, Nifty Auto and PSU Bank index were at the bottom of the tally, down over 2% each followed by Banking & Finance, IT, Realty and Consumer durables index settled lower in range 1% to 1.97%. On the other hand, Pharma and Healthcare index up over 2% each.
Technically, the Nifty index is heading to fill the gap (gap support of 24000 spot levels). Going ahead, 23800-23700 spot zone will act as a decent support, conversely, 24350-24500 spot zone will act as immediate resistance on the higher side.
Derivatives Overview & Outlook
Yesterday, Banknifty and Finnifty futures moved southward on long unwinding as both shed 3% and 8.5% of open interest respectively along with some long unwinding in Midcapnifty futures with decrease in open interest by 3.5%, whereas no significant change was seen in Nifty futures on the open interest front.
Majority of the F&O sectors settled on a negative note. Amongst them, Banking and Cement stocks witnessed maximum addition of short position along with some long unwinding among Capital Goods, Realty, Technology and Textile stocks.
On option front, call writing along with some put unwinding was seen at multiple OTM strikes. Maximum positions are at 25000 CE followed by 24500 CE and 23000 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 3255 Cr in the cash segment, sold index futures worth Rs 1268 Cr also sold stocks futures worth Rs 3756 Cr. DIIs were net buyers in the cash segment to the tune of Rs 941 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24280-24400; Supports 24100-24000
Banknifty – Resistances 56600-56900; Supports 56100-55900
Finnifty – Resistances 26400-26500; Supports 26100- 26000
F&O stocks in ban today: SAIL
Important Results Today: RELIANCE, ADANIGREEN, CANFINHOME, CHENNPETRO, HINDZINC, INDUSINDBK, LODHA & M&MFIN.
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