Iran’s foreign minister, Abbas Araghchi, has stated that Tehran is fully prepared for the possibility of a U.S. ground offensive and has no plans to pursue a ceasefire or enter negotiations with Washington.
Iran’s FM sees no reason to negotiate with the US, denies Tehran seeking ceasefire – Daily Market Update 6th March 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 0.26% to 1.61%.
- European equity markets also settled lower around 1.5% each.
- Asian equity markets are trading mix.
- GIFT Nifty is down by 150 points, Nifty futures likely to open around 24650 levels.
The benchmark Nifty index added 285 points to settle at 24766 spot levels after a highly volatile trading session.
Broader markets outperformed the benchmark as Mid and Small cap indices gained over 1.5% each.
All sectoral indices, barring IT, ended on a positive note. Amongst them, Metal, Consumer Durables, Auto, Realty and Oil & Gas index rose in range 1.5% to 2.29%.
Nifty index is trading volatile amid state of war in Middle East. News driven volatility is likely to dictate the short term price movement among various asset class. On levels front, 24300 spot levels will continue to act as a strong support on the down side; 24850-25000 spot levels will act as immediate resistance on the higher side.
Derivatives Overview & Outlook
Yesterday, Banknifty and Finnifty futures added around 3% & 12% of open interest respectively as long buildup, whereas Nifty and Midcap Nifty futures were up on short covering.
Majority of F&O sectors settled higher. Amongst them, Banking and Realty stocks witnessed addition of long positions whereas rest were up on short covering.
On options front, put writing was seen at multiple strikes along with some call addition at OTM strikes. Put call ratio has improved a bit; however, it is still trading in slightly negative territory.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 3753 Cr in the cash segment, sold stocks futures worth Rs 868 Cr and bought index futures worth Rs 300 Cr. DIIs were net buyers to the tune of Rs 5153 Cr in the cash segment.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24975-25100; Supports 24700-24580
Banknifty – Resistances 59650-60250; Supports 58840-58600
Finnifty – Resistances 27500-27700; Supports 27050- 26890
F&O stocks in ban today – SAIL, SAMMAANCAP
Disclosure
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