Brazil’s Luiz Inacio Lula da Silva is convening a virtual meeting of BRICS leaders next Monday to discuss Donald Trump’s trade policy. The Brazilian president wants to discuss not only the trade tariffs imposed by the US government, but also to rally fellow heads of major emerging market nations in support of multilateralism, according to two Brazilian government officials.
BRICS leaders schedule virtual meeting to discuss Trump tariffs- Daily Market Update 2nd Sept 2025
Overview and Outlook
Global Stock Market Today
- US equity markets were closed on account of Labor Day.
- European equity markets ended on a positive note.
- Majority of Asian equity markets are trading in green.
- GIFT Nifty little changed, Nifty futures likely to open around 24750 levels.
Benchmark Nifty index ended higher at 24625 spot levels, added 198 points to its previous closing values amid strong GDP number.
Broader markets outperformed the benchmark as Mid and Small cap indices gained 1.97% & 1.57% respectively.
Majority of sectoral indices, tracked at NSE, ended in green. Amongst them, Auto and Consumer Durables were the top performers, rose 2.80% & 2.08% respectively followed by IT and Metal index that gained over 1.5% each.
Technically, Nifty index is bouncing back from the price supports of 24335 spot levels and likely to face resistance around 24680-24750 spot levels. Going ahead, we continue to uphold sell on rise trading view on Nifty index till it is trading below 24850 spot levels on closing basis.
Derivatives Overview & Outlook
Yesterday, Finnifty futures added around 2.5% of open interest as long buildup, whereas, no significant activity was seen among Nifty, Banknifty and MidcpNifty futures on open interest front.
On the option front, put writing along with call unwinding was seen at multiple strikes. Maximum positions are at 25000 CE followed by 24800 CE and 24500 PE followed by 24600 PE. Options data turned slightly positive ahead of scheduled monthly expiry.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1703 Cr in the cash segment, bought index futures worth Rs 492 Cr also bought stocks futures worth Rs 3218 Cr. DIIs were net buyers in the cash segment to the tune of Rs 4316 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24850-25000; Supports 24650-24520
Banknifty – Resistances 54700-55000; Supports 54100-53800
Finnifty – Resistances 26000-26100; Supports 25800-25700
F&O Security in Ban Today: NIL
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