India’s Index of Industrial Production (IIP) grew by 7.3 per cent YoY growth in June 2026, accelerating from a revised 5.0 per cent in May, supported by strong growth in manufacturing and electricity and gas supply sector.
India’s industrial production growth accelerates to 7.3% in June – Daily Market Update 29th July 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to positive note.
- European equity markets ended higher in range 0.40% to 0.82%.
- Majority of Asian equity markets are trading in red.
- GIFT Nifty is down by 140 points, Nifty futures is likely to open around 23230 levels.
The benchmark Nifty index traded sideways in a narrow range to settle on a flat note at 23985 spot levels on scheduled monthly derivatives expiry day.
The broader markets performed in line with the benchmark as Mid and Small cap indices too ended on a flat note.
Performance on the sectoral front was mix. Among them, Nifty IT was at the top of the tally, gained 3.32% followed by Realty and Consumer Durables index that rose 2.17% & 1.08% respectively. On the flip side, FMCG, Chemicals and PSU Bank index were the worst performers, down around 1% each.
The overall chart structure for Nifty index is sideways having immediate supports around 23880 spot levels and resistance around 24100 spot levels. A sustained trading below 23880 spot could drag it toward 23800 followed by 23600 spot levels; conversely, break above 24100 could lead it up to 24260-24300 spot levels in immediate near term.
Derivatives Overview & Outlook
Yesterday, long unwinding was observed in Banknifty and Finnifty futures as both shed around 20% and 37.5% of open interest respectively. On the other hand, Nifty and Midcpnifty futures shed 22.7% and 14.5% of open interest without any significant change in prices.
Nifty and Banknifty futures rolled 72% and 76% of open interest into next contracts which is lower than previous month rollovers of 80% and 77% respectively.
On options front, Nifty will start the first weekly series of August contracts with maximum positions at 24000 CE and 24000 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 755 Cr in the cash segment, sold index futures worth Rs 2601 Cr and bought stocks futures worth Rs 2774 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 1664 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24180-24260; Supports 24000-23900
Banknifty – Resistances 57450-57750; Supports 56800-56400
Finnifty – Resistances 26400-26520; Supports 26150- 26000
F&O stocks in ban today: None
Important Results Today: ADANIENT, ADANIPORTS, ASIANPAINT, BAJAJHFL, BALKRISIND, CARTRADE, CHALET, COLPAL, DABUR, DEVYANI, DHANBANK, EICHERMOT, FORCEMOT, GRSE, HEIDELBERG, J&KBANK, KPITTECH, KTKBANK, LXCHEM, PCBL, PGHH, PPLPHARMA, PRESTIGE, QUESS, REDINGTON, WAAREEENER, ZENSARTECH
Disclosure
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