Indian equity benchmark -- Nifty -- snapped three-day losing streak on Tuesday. Index made a negative start following broadly negative cues from other Asian markets. Soon, index started wavering in red and green terrain. Traders remained cautious as the government data showed that India's industrial production growth slowed to a 10-month low of 1.5 per cent in June 2025 due to poor performance of mining and power sectors, which were impacted by excess rains especially in second half of the month. Continued outflows by Foreign Institutional Investors (FIIs), also dampened investors sentiments. FIIs sold equities worth Rs 6,082.47 crore on Monday, as per exchange data. 

However, in second half of the session, index erased all its losses and gained traction. Market participants took note of finance ministry’s monthly review report suggesting that there is room for further easing of interest rate by the Reserve Bank of India (RBI). The report noted that the retail inflation, based on Consumer Price Index (CPI), remained below 4 per cent since February and it further declined to more than six-year-low of 2.82 per cent in the month of May. In last leg of the trade, index extended its gains and closed above 24,800 mark.

All sectorial indices ended in green. The top gainers from the F&O segment were Tata Chemicals, Birlasoft, and Granules India. On the other hand, the top losers were Indian Energy Exchange, Petronet LNG and Mazagon Dock Shipbuilders. 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 4.45% and reached 11.53. The 50 share Nifty up by 140.20 point or 0.57% to settle at 24,821.10.

Nifty July 2025 futures closed at 24843.40 (LTP) on Tuesday, at a premium of 22.30 points over spot closing of 24821.10, while Nifty August 2025 futures ended at 24951.60 (LTP), at a premium of 130.50 points over spot closing. Nifty July futures saw an additional of 3,878 units, taking the total open interest (Contracts) to 1,53,343 units. The near month derivatives contract will expire on July 31, 2025. (Provisional)

From the most active contracts, HDFC Bank July 2025 futures traded at a discount of 1.60 points at 2021.40 (LTP) compared with spot closing of 2023.00. The numbers of contracts traded were 50,306. (Provisional)

Infosys July 2025 futures traded at a discount of 1.60 points at 1511.90 (LTP) compared with spot closing of 1513.50. The numbers of contracts traded were 48,670. (Provisional)

Reliance Industries July 2025 futures traded at a discount of 0.60 points at 1416.00 (LTP) compared with spot closing of 1416.60. The numbers of contracts traded were 47,672. (Provisional)

Axis Bank July 2025 futures traded at a premium of 1.50 points at 1066.50 (LTP) compared with spot closing of 1065.00. The numbers of contracts traded were 45,745. (Provisional)

State Bank of India July 2025 futures traded at a premium of 2.10 points at 800.95 (LTP) compared with spot closing of 798.85. The numbers of contracts traded were 43,049. (Provisional)

Among, Nifty calls, 24700 SP from the July month expiry was the most active call with a contraction of 5,318 units open interests. Among Nifty puts, 24700 SP from the July month expiry was the most active put with an additional of 51,044 units open interests. The maximum OI outstanding for Calls was at 25000 SP (1,98,985 units) and that for Puts was at 24000 SP (1,62,979 units). The respective Support and Resistance levels of Nifty are: Resistance 24912.63 -- Pivot Point 24755.62 -- Support 24664.08.

The Nifty Put Call Ratio (PCR) finally stood at (0.71) for July month contract. The top five scrips with highest PCR on Indian Energy Exchange (1.41), Laurus Labs (1.29), Supreme Industries (1.11), Vedanta (1.10) and Jindal Steel & Power (1.10).

Among most active underlying HDFC Bank witnessed an additional of 23,255 units of Open Interest in the July month future, Reliance Industries witnessed an additional of 6,839 units of Open Interest in the July month future, Axis Bank witnessed an additional of 20,944 units of Open Interest in the July month futures, Infosys witnessed a contraction of 2,960 units of Open Interest in the July month futures and ICICI Bank witnessed a contraction of 3,905 units of Open Interest in the July month futures. (Provisional).