Oil prices edged lower on Thursday as traders balanced signs of easing tensions around the Strait of Hormuz against growing risks to Russian energy supplies from the Russia-Ukraine conflict. West Texas Intermediate traded below $82 a barrel, extending its weekly decline to around 6%, while Brent settled below $88.
Brent Crude slips below $88 as Hormuz tensions ease, Russia-Ukraine risks mount – Daily Market Update 27th Aug 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to negative note.
- European equity markets ended on a flat to positive note.
- Asian equity markets are trading mix.
- GIFT Nifty is down by 40 points, Nifty futures likely to open around 24360 levels.
The benchmark Nifty index ended slightly lower at 24207 spot levels after a cut of 127 points from its previous closing values.
The performance on the broader front was mix as Mid cap index ended on a flat to negative note while Small cap index gained 0.81%.
The performance on the sectoral front was no different. Among them, Nifty IT was the worst performer, down 1.47% followed by FMCG, Consumer Durables, Realty and Auto which were down in range 0.74% to 0.95%. On the flip side, Cement, Metal, Private Bank and Chemical index gained in range 1% to 1.66%.
The Nifty index has slightly expanded its congestion range with a slightly upward slope. Immediate resistance is around the 24400–24450 spot levels, with support near the 24150–24100 spot zone. A decisive close above the 24450 spot level could lead the index toward 24600–24800 spot levels in the near term; conversely, sustained trading below 24100 spot levels could drag it back to the 23800 spot level.
Derivatives Overview & Outlook
Yesterday, Banknifty and Finnifty futures added around 1.5% and 66.5% of open interest respectively as long buildup, whereas some short buildup was seen in Nifty and Midcapnifty futures as both added around 5% and 4% of open interest respectively.
On the sectoral front, short buildup was seen among Capital Goods, FMCG and Power stocks while some long buildup was seen among Metal, Finance and Pharma stocks.
On options front, call writing along with some put addition was seen at multiple OTM strikes. Maximum positions are at 24500 CE closely followed by 25000 & 24300 CE and 24200 PE closely followed by 24300 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 503 Cr in the cash segment, sold index futures worth Rs 258 Cr and also sold stocks futures worth Rs 2512 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 6425 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24550-24700; Supports 24300-24200
Banknifty – Resistances 58550-58900; Supports 57800-57500
Finnifty – Resistances 26700-26800; Supports 26500- 26400
F&O stocks in ban today: SAIL.
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 and Lakshya Impex Private Limited are the associates of GCML.
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