State-run Bharat Petroleum Corporation Limited (BPCL) is planning to commission the company’s first sustainable aviation fuel (SAF) facility by 2027, in line with the government’s blending mandate.
The state-owned oil marketing company currently operates three refineries, in Mumbai, Kochi and Bina in Madhya Pradesh, and is also working on setting up a new refinery to meet the country’s rising energy needs.
Global Stock Market Today
Nifty Overview & Outlook
On Wednesday, benchmark index, Nifty, experienced a second consecutive day of consolidation, although it ended in the green with modest gains. Mixed global factors, including a ceasefire between Israel and Hezbollah on one side, and ongoing tariff threats from Trump on the other, kept global markets uncertain. However, a sharp rebound in Adani Group stocks, along with strong performance from HDFC Bank, the country’s largest bank, helped keep the markets in positive territory. The Nifty closed 0.3% higher, while the Bank Nifty rose 0.2%.
In the broader market, the Midcap index closed flat to positive, while the Smallcap index emerged as the top gainer among non-benchmark indices, gaining 1.6%. Sector-wise, Nifty Energy led with a 1.5% gain, while Nifty Pharma was the biggest loser, dropping 0.6%. The market breadth remained strongly positive, with 334 advances and 164 declines on the NSE.
From a technical standpoint, the Nifty is moving sideways near the resistance level of 24337. We will consider any further upside rally only if the 24340-24350 range is breached on a closing basis. The next resistance is pegged at 24500. On the downside, if the Nifty drops below the 24125-24145 range on a closing basis, we could see a reversal, with support likely to emerge near the gap-filling level of 23955.
Derivatives Overview & Outlook
Yesterday, Nifty, Finnifty and Midcapnifty futures added 7.7%, 2.7% and 3.9% of open interest respectively as long buildup whereas Banknifty futures shed around 22% of open interest as short covering.
Majority of sectoral indices settled higher. Amongst them, Media and Technology stocks witnessed maximum addition of long positions whereas some short covering was seen among Capital Goods, Chemical and FMCG stocks.
On options front, put writing was seen at multiple strikes. Maximum call positions are at 25000 CE followed by 24500 CE , on the other hand, maximum put positions are at 24000 PE followed by 23500 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 8 Cr in the cash segment, bought stocks futures worth Rs 1599 Cr and sold index futures worth Rs 120 Cr. DIIs were net buyers to the tune of Rs 1308 Cr in the cash segment.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 24400-24600; Supports 24200-24100
Banknifty – Resistances 52800-53000; Supports 52200-52000
Finnifty – Resistances 24400- 24500; Supports 24200-24100
F&O Security in Ban Today: NIL.
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