India and Canada are working to finalize a trade agreement this year. Both nations aim to significantly boost economic cooperation. Bilateral trade is targeted to reach fifty billion dollars by twenty thirty. This renewed engagement follows recent high-level visits. Discussions also cover energy, agriculture, and technology partnerships. A large Indian business delegation is participating in the ongoing talks.
Piyush Goyal hopeful of Comprehensive Economic Partnership Agreement (CEPA) with Canada by year-end; target $50 billion trade by 2030- Daily Market Update 26th May 2026
Overview and Outlook
Global Stock Market Today
- US stock market was closed yesterday.
- European equity markets ended higher in range 0.20% to 3.08%.
- Asian equity markets are trading mix.
- GIFT Nifty is little changed, Nifty futures is likely to open around 24030 levels.
The benchmark Nifty index ended higher above 24000 spot level after adding over 300 points to its previous closing values.
Performance on the broader front was mix as Small cap index move in line with the benchmark while Mid cap index slightly underperformed the benchmark.
All sectoral indices, barring FMCG, ended in green. Among them, Banking and Finance pack was at the top of the tally, gained over 2% followed by Auto, Realty, Chemicals, Oil & Gas and Consumer Durables that rose in range 1.25% to 1.75%.
The Nifty index settled above 24000 spot level following a bullish breakout from the price resistance of 23850 spot with a breakaway gap. Moving forward, we expect Nifty index to extend the ongoing upward move toward 24200 spot levels. A final peace deal (if concluded) between Iran and the US will further strengthen the market sentiment, potentially leading the Nifty index toward a sustainable rally up to the 24500–24600 spot levels. Conversely, a break below 23800 spot level might push it back in a consolidation phase.
Derivatives Overview & Outlook
Yesterday, Banknifty futures added 4.6% of open interest as long buildup along with some short covering among Nifty and Finnifty futures as both shed 6.4% and 1.5% of open interest respectively. On the other hand, Midcpnifty futures were up around 1% without any significant change in the open interest.
All F&O sectors, barring FMCG and New-age, settled on a positive note. Amongst them, short covering was seen among Finance, Infrastructure, Metal, Oil & Gas, Pharma and Textile stocks along with some long buildup among Realty and Telecom Gas stocks.
On options front, put writing along with some call addition was seen at multiple strikes. Maximum positions are at 25000 CE followed by 24500 CE and 24000 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 822 Cr in the cash segment, bought stock futures worth Rs 2484 Cr also bought index futures worth Rs 1595 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3857 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24200-24400; Supports 23900-23800
Banknifty – Resistances 56000-56500; Supports 55000-54600
Finnifty – Resistances 26400-26500; Supports 26000- 25700
F&O stocks in ban today: SAIL
Important Results Today: AIAENG, ASTRAZEN, EIHOTEL, FINPIPE, FLUOROCHEM, GICRE, IRCTC, JKTYRE, & ONGC
Disclosure
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