Nifty ends sharply lower on Thursday

Indian equity benchmark -- Nifty ended sharply lower with cut of over a percent on Tuesday amid negative global cues. Index made a flat-to-negative start tracking weak cues from other Asian markets and foreign fund outflow. As per NSE data, foreign institutional investors offloaded equities worth Rs 635.91 crore on Monday. But soon index entered into green terrain and continued its narrow range trade near neutral line during late morning session. However, in second half of the session, market wiped out all gains and witnessed sharp selloff across the sectors led by Metal and IT stocks. Concerns came with the Ministry of Commerce & Industry’s data showing that eight key infrastructure sectors’ output growth slowed to a seven-month low of 0.5% in May 2026 due to a fall in output of coal, crude oil and refinery products. Besides, traders avoided risky bids ahead if weekly F&O expiry. Afterwards, Nifty extended its losses and ended deeply in red.Most of the sectorial indices ended in red except Pharma stocks. The top gainers from the F&O segment were Laurus Labs, Aurobindo Pharma and Info Edge (India). On the other hand, the top losers were Vedanta, National Aluminium Company and Hindustan Zinc. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 calls and 23900 - 24100 puts indicating this is the trading range expectation.India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 8.56% and reached 13.94. The 50 share Nifty down by 278.80 point or 1.16% to settle at 23,824.10.Nifty June 2026 futures closed at 23810.00 (LTP) on Tuesday, at a discount of 14.10 points over spot closing of 23824.10, while Nifty July 2026 futures ended at 23916.10 (LTP), at a premium of 92.00 points over spot closing. Nifty June futures saw an addition of 3,073 units, taking the total open interest (Contracts) to 2,50,622 units. The near month derivatives contract will expire on June 30, 2026. (Provisional)From the most active contracts, HDFC Bank June 2026 futures traded at a premium of 0.70 points at 773.30 (LTP) compared with spot closing of 772.60. The numbers of contracts traded were 86,709. (Provisional)Infosys June 2026 futures traded at a discount of 2.00 points at 1027.00 (LTP) compared with spot closing of 1029.00. The numbers of contracts traded were 54,387. (Provisional)Tata Consultancy Services June 2026 futures traded flat with spot closing of 2060.00. The numbers of contracts traded were 46,403. (Provisional)Reliance Industries June 2026 futures traded at a discount of 1.50 points at 1304.50 (LTP) compared with spot closing of 1306.00. The numbers of contracts traded were 38,158. (Provisional)Vedanta June 2026 futures traded at a discount of 1.35 points at 280.85 (LTP) compared with spot closing of 282.20. The numbers of contracts traded were 34,069. (Provisional)Among, Nifty calls, 24000 SP from the June month expiry was the most active call with an addition of 94,944 units open interests. Among Nifty puts, 24000 SP from the June month expiry was the most active put with an addition of 28,369 units open interests. The maximum OI outstanding for Calls was at 25000 SP (2,58,852 units) and that for Puts was at 24000 SP (1,46,744 units). The respective Support and Resistance levels of Nifty are: Resistance 24044.75 -- Pivot Point 23914.85 -- Support 23694.20.The Nifty Put Call Ratio (PCR) finally stood at (0.79) for June month contract. The top five scrips with highest PCR on Cholamandalam Investment and Finance Company (1.29), Bosch (1.25), Polycab India (1.12), Petronet LNG (1.11), and KEI Industries (1.05).Among most active underlying HDFC Bank witnessed an addition of 12,501 units of Open Interest in the June month future, Reliance Industries witnessed an addition of 13,339 units of Open Interest in the June month future, Infosys witnessed an addition of 12,607 units of Open Interest in the June month future, ICICI Bank witnessed an addition of 5,466 units of Open Interest in the June month futures and Tata Consultancy Services witnessed an addition of 2,136 units of Open Interest in the June month futures. (Provisional)