President Donald Trump said he would extend the deadline for the European Union to face 50% tariffs until July 9 after a phone call with Commission President Ursula von der Leyen. Von der Leyen, who heads the EU’s executive arm, said earlier Sunday in a post on X that “Europe is ready to advance talks swiftly and decisively,” but “a good deal” will need “time until July 9.” That’s the date that Trump’s 90-day pause of his so-called reciprocal tariffs had originally been set to end.
Trump extends deadline for 50% tariffs on EU goods to July 9- Daily Market Update 26th May 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 0.60% to 1%.
- European equity markets also ended lower in range 0.24% to 1.56%.
- Asian equity markets are trading mix.
- GIFT Nifty is up by 70 points, Nifty futures likely to open around 24950 levels.
Benchmark Nifty index ended higher at 24853 levels after adding 243 points to its previous closing values.
Broader markets settled higher in line with the benchmark as Mid and Small cap indices gained 0.64% & 0.80% respectively.
All sectoral indices, barring Pharma, tracked at NSE ended in green , Amongst them, Nifty FMCG index gained maximum, added 1.63% followed by Private Bank and Fin Services that rose over 1% each.
Nifty index bounced back sharply from the supports of 24480 spot levels. Going ahead, we continue to uphold our bullish view on Nifty index till it is trading above 24480 spot levels. Cross and sustenance above 25120 spot levels hold the key for further up move up to 25500 spot levels.
Derivatives Overview & Outlook
Last Friday, Nifty added 3.1% of open interest as long buildup along with some short covering in Banknifty and Midcapnifty futures with decrease in open interest by 1.5% and 2.8% respectively while no significant change was seen in Finnifty futures on open interest front.
Majority of F&O sectors settled higher. Amongst them, Chemical, Oil & Gas and Power stocks witnessed maximum addition of long positions while some short buildup was seen in Infrastructure and Textile stocks.
On option front, call writing along with some put writing was seen at multiple strikes. Maximum put positions are at 24000 PE followed by 24500 PE and maximum call positions are at 26000 CE followed by 25000 CE.
Institutional Trading Activity
Last week, FIIs sold stock worth Rs 10472 Cr in the cash segment, sold stocks futures worth Rs 6089 Cr also sold index futures worth Rs 5687 Cr. DIIs were net buyers in the cash segment to the tune of Rs 11199 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25000-25100; Supports 24800-24700
Banknifty – Resistances 55700-56000; Supports 55300-55000
Finnifty – Resistances 26650- 26780; Supports 26400-26300
F&O Security in Ban Today: CHAMBALFIRT, DIXON, HINDCOPPER, RBLBANK, MANAPPURAM & TITAGARH
Important Results Today: ACE, GICRE, KEC & OLECTRA
Disclosure
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