OPEC is prepared to raise production further by rolling back its oil output cuts if necessary to address any market shortfall after the US imposed new sanctions on major Russian oil firms, Kuwait’s oil minister said on Thursday.
Oil prices stabilise as key OPEC member Kuwait signals increased supply post US sanctions on Russia- Daily Market Update 24th Oct 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 0.31% to 0.89%.
- European equity markets ended on a flat to positive note.
- Asian equity markets are trading in green.
- GIFT Nifty is up by 50 points, Nifty futures likely to open around 26000 levels.
Benchmark Nifty index crossed 26100 spot levels in day trade after a year but failed to hold at higher levels and settled on a flat to positive note at 25891 spot levels.
Broader markets once again underperformed the benchmark as Mid and Small cap indices ended on a slightly negative note.
Performance on the sectoral front was mix. Amongst them, Nifty IT was the only sectoral index with some meaningful gains, rose over 2%. On the flip side, MIDSMALL Healthcare and Oil & Gas index fell just over 0.5% each.
Technically, Nifty index is trading in higher highs and higher lows formation and well placed above its long term as well as short term moving averages on multiple chart frames. Going ahead, we continue to maintain our buy on dips trading approach till it is holding above 25600 spot levels on closing basis and expect it to test 26300 spot levels in near term.
Derivatives Overview & Outlook
Yesterday, Banknifty futures added around 9.5% of open interest as long buildup along with some short covering in Nifty futures with decrease in open interest by 2.5%, some long unwinding was seen in Midcapnifty futures that shed 4.5% of open interest. On the other hand, Finnifty futures remain unchanged on open interest front.
On sectoral front, long buildup was seen among Banking and Telecom stocks along with short covering in Technology stocks.
On the option front, call writers dominated the session with writing at multiple strikes along with some put writing across different OTM strikes. The maximum call positions at 27000 CE followed by 26500 CE and maximum put positions are at 25000 PE followed by 25500 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1166 Cr in the cash segment, bought stocks futures worth Rs 8140 Cr also bought index futures worth Rs 4652 Cr. DIIs were too net buyers in the cash segment to the tune of Rs 3894 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 26100-26220; Supports 25880-25720
Banknifty – Resistances 58400-58600; Supports 57800-57500
Finnifty – Resistances 27650-27800; Supports 27400-27300
F&O Security in Ban Today: NIL
Important Results Today: COFORGE, DRREDDY, ITCHOTELS, LATENTVIEW, SBICARD, SBILIFE.
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates.
AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited, Lakshya Impex Private Limited and Launchpad Fintech Private Limited are associates of GCML.
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