Oil steadied near the lowest close this year, with tariff threats from US President Donald Trump and a range of supply issues in focus. West Texas Intermediate traded below $69 a barrel after losing almost 3% over the prior two sessions, with Brent settling above $72. Trump said planned tariffs against Mexico and Canada were “not stopping,” but the timing wasn’t clear. Levies against the European Union were also on the cards, he said.
Oil prices hold near yearly low amid US tariffs and supplies in focus- Daily Market Update 27th Feb 2025
Overview and Outlook
Global Stock Market Today
- US equity markets, barring DOW, settled in green.
- European equity markets ended higher in range 0.7% to 1.68%.
- Asian equity markets are trading mix.
- GIFT Nifty is little changed, Nifty futures likely to open around 22600 levels.
Nifty Overview & Outlook
Benchmark Nifty index traded sideways for most part of the session and settled on a flat note at 22548 levels.
Broader markets underperformed the benchmark as Mid and Small cap index ended lower by 0.57% & 0.44% respectively.
Majority of sectoral indices settled in red. Amongst them, Metal, PSU Banks, Realty and Oil & Gas index fell over 1% each. On the other hand, Consumer Durables, Media and Auto index led the advances, gained over 0.5% each.
Technically, Nifty index is trading below its long term as well as short term moving averages in lower highs and lower lows formation around an important support of 22500 spot levels. Cross and sustenance below 22500 spot levels might take it towards 22000 spot levels in near term.
Derivatives Overview & Outlook
On Tuesday, no significant change was seen in Nifty and Finnifty futures on price as well as on open interest front. Midcap Nifty futures added around 1% of open interest as short buildup.
Majority of F&O sectors, barring Media and FMCG, fell on long unwinding. Maximum unwinding was seen among Banking, Chemicals and Pharma stocks.
On options front, further call writing was seen at multiple strike. Maximum positions are at 22700 CE and 22600 PE closely followed by 22500 PE. Quantum of call positions is significantly higher than the quantum of put positions that is a negative sign indicating continuation of sell on rise approach in near term.
Institutional Trading Activity
On Tuesday, FIIs sold stocks worth Rs 3529 Cr in the cash segment, bought stocks futures worth Rs 2931 Cr also bought index futures worth Rs 108 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3031 Cr.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 22700-22800; Supports 22500-22400
Banknifty – Resistances 48900-49100; Supports 48300-48200
Finnifty – Resistances 23200- 23300; Supports 22950-22850
F&O Security in Ban Today: MANAPPURAM
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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