Oil prices extended their decline on Thursday, with Brent crude falling to its pre-war levels as improving supply conditions and optimism over a potential US-Iran peace agreement continued to weigh on the market. Brent crude dropped more than 1.52% to around $72.4 a barrel, while US benchmark West Texas Intermediate (WTI) fell 1.43% to about $69.3 a barrel.
Brent Crude slips to $72, erasing all gains from US-Iran war – Daily Market Update 25th June 2026
Overview and Outlook
Global Stock Market Today
- The US Stock markets, barring Dow Jones, settled on a negative note.
- European equity markets, barring DAX, settled on a positive note.
- Asian equity markets are trading in green.
- GIFT Nifty is up by 100 points, Nifty futures is likely to open around 24130 levels.
The benchmark Nifty index ended higher at 24022 spot levels after adding nearly 200 points to its previous closing values.
The broader markets underperformed the benchmark as Mid and Small-cap indices settled on a flat to positive note.
All sectoral indices, barring Auto and Metals, ended on a positive note. Among them, IT and Realty were at the top of the tally, gained over 2% each closely followed by Private Banks and Cement index that rose 1.85% & 1.68% respectively.
The Nifty index rebounded with a strong bullish candlestick on the daily chart, implying strength around the lower band of its recent 8-day congestion zone at the 23,800 spot level. The short-term trend remains sideways as long as the index trades within the 23,800–24,200 range. Moving forward, a decisive break on either side of this zone could trigger a 300–400 point directional move.
Derivatives Overview & Outlook
Yesterday, Banknifty and Midcapnifty futures added around 5.5% and 3.5% of open interest as long buildup along with short covering in Finnifty futures that shed 10.6% of open interest, whereas no significant change was observed in Nifty futures on open interest front.
Majority of F&O sectors settled higher. Amongst them, Banking, Finance, Oil & Gas, Technology and Textile witnessed decent amount of short covering whereas some long buildup was seen among Realty stocks. On the other hand, short buildup was seen among Chemical, Metal and Telecom stocks along with some long unwinding among Capital Goods and Power stocks.
On option front, call unwinding along with some put writing were seen at multiple OTM strikes. Maximum positions are at 25000 CE followed by 24500 CE and 24000 PE followed by 23500 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1843 Cr in the cash segment, sold index futures worth Rs 46 Cr and bought stock futures worth Rs 1093 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3637 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24200-24300; Supports 23900-23800
Banknifty – Resistances 58600-58800; Supports 57800-57200
Finnifty – Resistances 26850-27000; Supports 26600- 26400
F&O stocks in ban today: Nil
Disclosure
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