Indian equity benchmark -- Nifty – ended flat with positive bias on Wednesday. Index made a slightly positive start followed by positive cues from other Asian markets. Soon, index slipped below neutral line amid rising concerns over US President Donald Trump’s tariffs as US president announced 19 per cent tariff on Indonesian exports under new bilateral trade agreement. However, down side remined capped as traders took note of Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev’s statement that the Indian economy is likely to grow at 6.5 per cent in the current financial year (FY26), despite geo-political tensions and trade policy uncertainties.

In afternoon session, index erased all initial losses and entered in green terrain. However, in last leg of the trade, index trimmed most of its gains but managed to end the session in green terrain. Finally, index closed above 25,200 mark.

Most of the sectorial indices ended in green except Metal and Pharma stocks. The top gainers from the F&O segment were Patanjali Foods, LIC Housing Finance, and Hindustan Petroleum Corporation. On the other hand, the top losers were Ashok Leyland, Page Industries and Amber Enterprises India. In the index option segment, maximum OI continues to be seen in the 25400 - 25600 calls and 24900 - 25100 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 2.09% and reached 11.24. The 50 share Nifty up by 16.25 point or 0.06% to settle at 25,212.05.

Nifty July 2025 futures closed at 25236.60 (LTP) on Wednesday, at a premium of 24.55 points over spot closing of 25212.05, while Nifty August 2025 futures ended at 25348.30 (LTP), at a premium of 136.25 points over spot closing. Nifty July futures saw an additional of 3,334 units, taking the total open interest (Contracts) to 1,85,456 units. The near month derivatives contract will expire on July 31, 2025. (Provisional)

From the most active contracts, State Bank of India July 2025 futures traded at a premium of 3.00 points at 833.50 (LTP) compared with spot closing of 830.50. The numbers of contracts traded were 59,943. (Provisional)

Infosys July 2025 futures traded at a premium of 6.00 points at 1615.00 (LTP) compared with spot closing of 1609.00. The numbers of contracts traded were 33,664. (Provisional)

Patanjali Foods July 2025 futures traded at a premium of 7.90 points at 1857.90 (LTP) compared with spot closing of 1850.00. The numbers of contracts traded were 26,581. (Provisional)

HDFC Bank July 2025 futures traded at a discount of 5.10 points at 1990.90 (LTP) compared with spot closing of 1996.00. The numbers of contracts traded were 25,105. (Provisional)

Mahindra & Mahindra July 2025 futures traded at a premium of 7.90 points at 3210.90 (LTP) compared with spot closing of 3203.00. The numbers of contracts traded were 20,487. (Provisional)

Among, Nifty calls, 25500 SP from the July month expiry was the most active call with an additional of 1,830 units open interests. Among Nifty puts, 25000 SP from the July month expiry was the most active put with a contraction of 1,515 units open interests. The maximum OI outstanding for Calls was at 25500 SP (69,192 units) and that for Puts was at 25000 SP (78,375 units). The respective Support and Resistance levels of Nifty are: Resistance 25271.22 -- Pivot Point 25196.13 -- Support 25136.97.

The Nifty Put Call Ratio (PCR) finally stood at (1.03) for July month contract. The top five scrips with highest PCR on Blue Star (1.39), One97 Communications (1.25), Tata Elxsi (1.17), Laurus Labs (1.13) and Vedanta (1.01).

Among most active underlying State Bank of India witnessed an additional of 11,200 units of Open Interest in the July month future, HDFC Bank witnessed an additional of 4,454 units of Open Interest in the July month future, Infosys witnessed an additional of 11,853 units of Open Interest in the July month futures, Dixon Technologies (India) witnessed an additional of 612 units of Open Interest in the July month futures and Patanjali Foods witnessed an additional of 2,657 units of Open Interest in the July month futures. (Provisional).