The Indian Government has launched an Offer for Sale in Coal India Limited to divest up to a 2% equity stake, aiming to raise nearly ₹5,000 crore. The floor price for the OFS has been fixed at ₹412 per share, representing a ~10% discount to the prevailing market price.
Government of India to sell up to 2% stake in Coal India via offer for sale- Daily Market Update 27th May 2026
Overview and Outlook
Global Stock Market Today
- US equity markets, barring Dow Jones, settled in green.
- European equity markets, barring FTSE, ended lower.
- Asian equity markets are trading mix.
- GIFT Nifty is little changed, Nifty futures is likely to open around 23900 levels.
The benchmark Nifty index ended slightly lower at 23914 spot levels after a cut of over 100 points from its previous closing values.
Broader markets outperformed the benchmark as Mid and Small cap indices settled on a positive note.
Performance on the sectoral front was mix and muted. Among them, Nifty Metal index was at the top of the tally, gained over 1%. On the other hand, Consumer Durables index was at the bottom of the tally, down over 1%.
Technically, Nifty index retraced back to fill the gap created while rising on May 25, 2026. Immediate supports for Nifty index are placed around 23850-23800 spot levels. We reiterate our bullish view on Nifty index as long as it remains above 23800 spot levels on closing basis. Conversely, sustained trading below 23800 spot levels might push it back in the consolidation phase.
Derivatives Overview & Outlook
Yesterday, Midcapnifty futures saw a decline in open interest by around 15% as short covering, while Nifty, Finnifty and Banknifty futures witnessed some long unwinding with decrease in open interest by around 26%, 20% and 58% respectively on the scheduled monthly expiry.
Nifty futures rolled 70% into next contract which is almost in line with previous month rollovers of 71%, Banknifty futures rolled 75% of open interest into next contracts which is lower than previous month rollovers of 79%.
On options front, Nifty will start the first weekly series of June contract with maximum positions at 23000 PE and 24000 CE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 2408 Cr in the cash segment, sold index futures worth Rs 3264 Cr and bought stock futures worth Rs 1380 Cr. DIIs were net buyers in the cash segment to the tune of Rs 1361 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24050-24200; Supports 23800-23700
Banknifty – Resistances 55800-56000; Supports 55300-55000
Finnifty – Resistances 26200-26400; Supports 26000- 25800
F&O stocks in ban today: SAIL
Important Results Today: ASAHIINDIA, BECTORFOOD, GABRIEL, GMRAIRPORT, NFL, PCJEWELLER & TIMETECHNO
Disclosure
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