The Ministry of Finance said on Thursday that the Indian government, in consultation with the Reserve Bank of India, has set its borrowing target for the first half of the fiscal 2025-26 at Rs 8 lakh crore lower than Rs 7.4 lakh crore planned in the same period last year.
India plans Rs 8 Lakh Crore borrowing in first half of FY26- Daily Market Update 28th March 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to negative note.
- European equity markets ended lower in range 0.27% to 0.71%
- Asian equity markets are trading with negative bias.
- GIFT Nifty is little changed, Nifty futures likely to open around 23750 levels.
Nifty Overview & Outlook
Benchmark Nifty index settled higher at 23591 levels after adding 105 points to its previous closing values.
Broader markets performed in line with the benchmark as Mid and Small cap indices ended on a flat to positive note.
Majority of sectoral indices, barring Auto, Pharma and Health care, tracked at NSE settled higher. Amongst them, PSU Bank index was at the top of the tally, rose over 2.5% followed by Media, Realty and Oil & Gas stocks that gained over 1% each. on the flip side, Auto index led the declines, fell over 1%.
Technically, Nifty index is well placed on multiple time frames and we suggest traders to maintain buy on dips trading approach till it is trading above 23100 spot levels on closing basis. immediate supports are placed around 23400-23300 spot levels and resistances are placed around 23800-23900 spot zone.
Derivatives Overview & Outlook
Yesterday, all F&O index futures witnessed short covering on expiry day as Nifty, Banknifty, Finnifty and Midcapnifty futures shed 24%, 19.3%, 29.1% and 22.4% of open interest respectively.
On the sectoral front, Auto and Textile stocks were down on long unwinding while rest of the F&O sectors were up on short covering.
On options front, Nifty will start the new weekly contract with maximum positions at 24500 CE and 22500 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 2458 Cr in the cash segment, bought index futures worth Rs 839 Cr also bought stocks futures worth Rs 2488 Cr. DIIs were net sellers in the cash segment to the tune of Rs 696 Cr
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23920-24050; Supports 23700-23580
Banknifty – Resistances 52200-52400; Supports 51600-51400
Finnifty – Resistances 25300- 25400; Supports 25100-25000
F&O Security in Ban Today: NIL
Disclosure
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