Iran denied on Monday that it had engaged in negotiations with the United States, after President Donald Trump postponed a threat to bomb Iran’s power grid because of what he described as productive talks with unidentified Iranian officials.
A European official said that while there had been no direct negotiations between the two nations, Egypt, Pakistan and Gulf states were relaying messages.
Iran denies talks with US after Trump postpones strikes on power grid- Daily Market Update 24th March 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 1.15% to 1.38%.
- European equity markets, barring FTSE, ended higher.
- Asian equity markets are trading with a positive bias.
- GIFT Nifty is up by 400 points, Nifty futures likely to open around 22850 levels.
The benchmark Nifty index ended sharply lower at 22513 spot levels, down over 600 points from its previous closing values.
Broader markets underperformed the benchmark as Mid and Small cap indices were down around 4% each.
All sectroal indices, tracked at NSE, were in deep red. Amongst them, Consumer Durables, Metals, Realty, PSU Banks were the hardest hit, down 4% to over 5%.
Gift Nifty is indicating a significant gap up opening for the domestic markets amid signs of de-escalation in Middle East conflict. Nifty index is approaching towards crucial support zone placed at 22000-21750 spot levels; the price supports of 21750 also coincide with its 4 years exponential moving average. On short term charts, Nifty index has reached the oversold territory; hence, possibility of some bounce back can not be ruled out at this juncture that might lead it towards 22800-23000 spot levels.
Derivatives Overview & Outlook
Yesterday, Nifty, BankNifty and MidcpNifty futures added around 3.5%, 3% and 1% of open interest respectively as short buildup along with some long unwinding in Finnifty as it shed 2% of open interest.
Majority of the F&O sectors were down on short buildup while rest were down on long unwinding.
On option front, call writing along with some put addition was seen at multiple OTM strikes. Maximum positions are at 24000 CE followed by 23500 CE and 21000 PE followed by 22000 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 10414 Cr in the cash segment, sold index futures worth Rs 1420 Cr and bought stocks futures worth Rs 103 Cr. DIIs were net buyers in the cash segment to the tune of Rs 12034 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23350-23600; Supports 22800-23000
Banknifty – Resistances 52000-52500; Supports 51000-50800
Finnifty – Resistances 24000-24200; Supports 23700- 23600
F&O stocks in ban today – SAIL, SAMMAANCAP
Disclosure
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