Coforge Chairman O P Bhatt has resigned from the company’s board with immediate effect, following concerns raised by an internal audit over the process used for the company’s recent board evaluation, according to an exchange filing.
Coforge has designated Vivek Sharma, a Non-Executive Independent Director, as interim Chairperson until January 31, 2027.
Coforge chairman OP Bhatt resigns after audit flags board evaluation concerns- Daily Market Update 9th Sept 2026
Overview and Outlook
Global Stock Market Today
- US markets were settled lower in range 0.32% to 1.18%.
- European equity markets ended on a flat note.
- Asian equity markets are trading mix.
- GIFT Nifty is down by 60 points, Nifty futures likely to open around 23650 levels.
The benchmark Nifty index ended lower at 23635 spot levels after a cut of 144 points from its previous closing values.
The broader markets outperformed the benchmark as Mid and Small cap indices settled on a slightly positive note.
The performance on the sectoral front was largely mixed and muted. Among them, Nifty Media was at the top of the tally, gaining 1.31% followed by Pharma, Healthcare and Chemical stocks that rose around 0.5% each. On the flip side, Pvt Bank, Cement and Oil and Gas index fell in range 0.6% to around 1%.
The Nifty index has reached its immediate price support placed around the 23,600 spot level. The possibility of a bounce-back rally up to 24,000 spot levels cannot be ruled out at this juncture. A decisive close above 24,000 spot could lead it higher toward 24,200–24,380 spot levels. Conversely, a decisive close below 23,600 will have a negative impact that could trigger selling pressure and drag it toward 23,350 spot levels.
Derivatives Overview & Outlook
Yesterday, Nifty, Banknifty and Finnifty futures added around 3.5%, 5% and 5% of open interest respectively as short buildup, whereas some long buildup was seen in Midcapnifty futures that added around 1.5% of open interest.
On the sectoral front, long buildup was seen among Capital Goods stocks along with some short covering among New-age and Textile stocks while some short buildup was seen among Technology stocks.
On options front, Nifty will start the new weekly series of Sept contract with maximum positions at 24000 CE and 23000 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 123 Cr in the cash segment, sold index futures worth Rs 1823 Cr and also sold stocks futures worth Rs 428 Cr. DIIs were net buyers in the cash segment to the tune of Rs 1350 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 238500-24000; Supports 23600-23500
Banknifty – Resistances 57300-58000; Supports 56800-56500
Finnifty – Resistances 26000-26100; Supports 25700- 25600
F&O stocks in ban today: KAYNES, INOXWIND, LICHSGFIN, MANAPPURAM FIN & SAIL.
Disclosure
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