International crude oil prices slipped more than $1 per barrel on Monday, Aug. 24 as investors took profits ahead of an expected announcement from Washington about imposing more sanctions on Iran that may further disrupt supplies from the Middle East. Benchmark Brent crude futures fell $1.22, or 1.29%, to $93.17, while US West Texas Intermediate crude was at $85.86 per barrel, down $1.20, or 1.38%.
Brent Crude slides 2% to $93 ahead of US announcement on new Iran sanctions – Daily Market Update 24th Aug 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 0.43% to 0.98%.
- European equity markets ended on a flat to positive note.
- Majority of Asian equity markets are trading in red.
- GIFT Nifty is up by 90 points, Nifty futures likely to open around 24370 levels.
The Nifty index once again ended on a flat note after a lackluster trading sessions where neither bulls nor bear were able to drive the benchmark in their direction.
The Small cap index outperformed the benchmark, rose 0.69%. On the other hand, Mid cap index moved in line with the benchmark, settled on a flat note.
The performance on the sectoral front was largely mix and muted. Among them, Auto, FMCG, Media and Chemicals were the worst performers, down over 0.5% each. On the flip side, Metal and Pvt bank Index were the top performers, rose 0.86% & 0.51% respectively.
The overall technical chart structure is sideways as long as the index is trading in 23600-24700 spot zone. Lack of fresh domestic triggers indicating towards further consolidation in immediate near term. On levels front, cross and sustenance above 24300 could lead it towards 24450 spot levels in near term; conversely, a fall below 24180 spot could drag it back to 24000 spot levels.
Derivatives Overview & Outlook
Last Friday, Finnifty and Midcapnifty futures added around 3% of open interest each without any significant change in price, whereas no significant change was observed in Nifty and Banknifty futures on open interest as well as on price front.
On the sectoral front, long unwinding was seen among Cement and Infrastructure stocks while some long buildup was seen among Metal and Finance stocks along with some short covering in Chemical stocks.
On options front, call writing along with some put addition was seen at multiple OTM strikes. Maximum positions are at 24300 CE followed by 24500 CE and 24000 PE closely followed by 24200 PE.
Institutional Trading Activity
Last week, FIIs bought stocks worth Rs 2267 Cr in the cash segment, sold index futures worth Rs 5306 Cr and bought stocks worth Rs 2942 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 17316 Cr.
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: SAIL
Disclosure
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