Nifty ends in fine fettle on Wednesday

Nifty witnessed a sharp recovery after yesterday's weak session and ended higher on Wednesday. After making a flat-to-negative start, soon Index gained traction and continued its firm trade till the end of the session, driven by a drop in crude oil prices, strong buying in IT stocks. Besides, investors’ sentiment bolstered after Reserve Bank of India’s (RBI) Governor Sanjay Malhotra said it was premature to discuss interest rate hikes, noting that the central bank was monitoring the impact of higher crude oil prices on inflation before taking a view on the policy path. Further, some optimism came as India and the United States have held high-level trade talks aimed at salvaging and recalibrating a proposed bilateral trade agreement after changes in US tariff policy upended a framework negotiated earlier this year. Also, rupee appreciation against US dollar and foreign fund inflow supported market sentiments. Finally, Nifty ended above 24,000 mark.Most of the sectorial indices ended in green except Auto and Metal stocks. The top gainers from the F&O segment were Oracle Financial Services Software, Exide Industries and InterGlobe Aviation. On the other hand, the top losers were Indian Railway Finance Corporation, GE Vernova T&D India and Hitachi Energy India. 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 decreased by 3.99% and reached 13.39. The 50 share Nifty up by 197.55 point or 0.83% to settle at 24,021.65.Nifty June 2026 futures closed at 24053.60 (LTP) on Wednesday, at a premium of 31.95 points over spot closing of 24021.65, while Nifty July 2026 futures ended at 24138.00 (LTP), at a premium of 116.35 points over spot closing. Nifty June futures saw a contraction of 7,265 units, taking the total open interest (Contracts) to 2,36,990 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 discount of 0.35 points at 792.45 (LTP) compared with spot closing of 792.80. The numbers of contracts traded were 1,87,686. (Provisional)Tata Consultancy Services June 2026 futures traded at a premium of 8.20 points at 2115.30 (LTP) compared with spot closing of 2107.10. The numbers of contracts traded were 1,46,657. (Provisional)Infosys June 2026 futures traded at a discount of 0.40 points at 1055.60 (LTP) compared with spot closing of 1056.00. The numbers of contracts traded were 99,426. (Provisional)ICICI Bank June 2026 futures traded at a premium of 0.60 points at 1373.60 (LTP) compared with spot closing of 1373.00. The numbers of contracts traded were 62,051. (Provisional)Reliance Industries June 2026 futures traded at a premium of 1.30 points at 1314.70 (LTP) compared with spot closing of 1313.40. The numbers of contracts traded were 54,796. (Provisional)Among, Nifty calls, 24000 SP from the June month expiry was the most active call with a contraction of 45,107 units open interests. Among Nifty puts, 24000 SP from the June month expiry was the most active put with an addition of 48,498 units open interests. The maximum OI outstanding for Calls was at 25000 SP (1,99,606 units) and that for Puts was at 24000 SP (1,92,519 units). The respective Support and Resistance levels of Nifty are: Resistance 24144.72 -- Pivot Point 23966.98 -- Support 23843.92.The Nifty Put Call Ratio (PCR) finally stood at (1.20) for June month contract. The top five scrips with highest PCR on Cholamandalam Investment and Finance Company (1.39), Bosch (1.19), Bharat Forge (1.08), Radico Khaitan (1.06), and Petronet LNG (1.04).Among most active underlying HDFC Bank witnessed an addition of 31,853 units of Open Interest in the June month future, ICICI Bank witnessed an addition of 23,805 units of Open Interest in the June month future, Tata Consultancy Services witnessed a contraction of 23,650 units of Open Interest in the June month future, Infosys witnessed a contraction of 28,067 units of Open Interest in the June month futures and Reliance Industries witnessed an addition of 13,485 units of Open Interest in the June month futures. (Provisional)