Indian equity benchmark -- Nifty -- ended sharply higher amid ease in Israel-Iran tension and following Federal Reserve Chair Jerome Powell’s testimony hinting at two policy interest rate cuts by the end of 2025. Index extended previous session gains with a gap-up start followed by firm cues from other Asian markets. Index continued its firm trade in green terrain. Some optimism came from Finance Minister Nirmala Sitharaman said that negotiations for the proposed free trade agreements with the US and European Union (EU) progressing at a fast pace and would be concluded soon. Traders also took support with Union Commerce and Industry Minister Piyush Goyal’s statement that India is firmly on track to become a $5 trillion economy by 2027 despite global turbulence, driven by a collective national effort and strong leadership under Prime Minister Narendra Modi. In afternoon session, index intensified its jubilant trade to touch intraday high and closed above 25,200 mark.

Most of the sectorial indices ended in green except Private Bank stocks. The top gainers from the F&O segment were Multi Commodity Exchange of India, Birlasoft, and HFCL. On the other hand, the top losers were Angel One, Mazagon Dock Shipbuilders and Bharat Electronics. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 25100 - 25300 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 4.98% and reached 12.96. The 50 share Nifty up by 200.40 point or 0.80% to settle at 25,244.75.

Nifty June 2025 futures closed at 25250.00 (LTP) on Wednesday, at a premium of 5.25 points over spot closing of 25244.75, while Nifty July 2025 futures ended at 25353.60 (LTP), at a premium of 108.85 points over spot closing. Nifty June futures saw an additional of 10,831 units, taking the total open interest (Contracts) to 1,08,235 units. The near month derivatives contract will expire on June 26, 2025. (Provisional) 

From the most active contracts, HDFC Bank June 2025 futures traded at a discount of 1.40 points at 1978.60 (LTP) compared with spot closing of 1980.00. The numbers of contracts traded were 46,594. (Provisional) 

ICICI Bank June 2025 futures traded at a premium of 1.40 points at 1425.90 (LTP) compared with spot closing of 1424.50. The numbers of contracts traded were 44,817. (Provisional) 

Reliance Industries June 2025 futures traded at a discount of 1.60 points at 1466.00 (LTP) compared with spot closing of 1467.60. The numbers of contracts traded were 44,032. (Provisional) 

RBL Bank June 2025 futures traded at a premium of 0.50 points at 237.99 (LTP) compared with spot closing of 237.49. The numbers of contracts traded were 38,873. (Provisional) 

Infosys June 2025 futures traded at a discount of 2.00 points at 1610.50 (LTP) compared with spot closing of 1612.50. The numbers of contracts traded were 37,037. (Provisional)

Among, Nifty calls, 25200 SP from the June month expiry was the most active call with a contraction of 16,452 units open interests. Among Nifty puts, 25200 SP from the June month expiry was the most active put with an additional of 1,43,449 units open interests. The maximum OI outstanding for Calls was at 26000 SP (1,78,658 units) and that for Puts was at 25200 SP (2,11,105 units). The respective Support and Resistance levels of Nifty are: Resistance 25299.35 -- Pivot Point 25212.20 -- Support 25157.60.

The Nifty Put Call Ratio (PCR) finally stood at (1.10) for June month contract. The top five scrips with highest PCR on Max Financial Services (1.72), AU Small Finance (1.29), RBL Bank (1.26), Polycab India (1.17) and Fortis Healthcare (1.17).

Among most active underlying HDFC Bank witnessed an additional of 12,864 units of Open Interest in the June month future, ICICI Bank witnessed an additional of 12,088 units of Open Interest in the June month future, Reliance Industries witnessed an additional 15,477 units of Open Interest in the June month futures, Bajaj Finance witnessed an additional of 3,893 units of Open Interest in the June month futures and Infosys witnessed an additional of 8,621 units of Open Interest in the June month futures. (Provisional).