Indian equity benchmark -- Nifty -- witnessed fall on Friday, dragged down by investor unease over steep U.S. tariffs on Indian exports rolled out earlier this week. After a negative start, index remained volatile during the whole session, as RBI Bulletin indicated downside risk to the overall demand in the Indian economy owed to persisting uncertainties related to the US trade policies. It added that the near-term inflation outlook has become more benign than anticipated earlier driven by muted food price pressures supported by favourable base effects. Despite volatility, market traded in green for most part of the session, as India’s industrial output growth, measured in terms of the Index of Industrial Production (IIP), accelerated to a 4-month high of 3.5 per cent in July 2025 due to good performance of manufacturing sector. But, index failed to hold the head in green and finally ended lower with losses of 0.30%.

Most of the sectorial indices ended in red except FMCG, Media and Consumer Durables stocks. The top gainers from the F&O segment were Sammaan Capital, CG Power and Industrial Solutions and RBL Bank. On the other hand, the top losers were BSE, Mahindra and Mahindra and Nuvama Wealth Management. 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 3.49% and reached 11.75. The 50 share Nifty down by 74.05 point or 0.30% to settle at 24,426.85.

Nifty September 2025 futures closed at 24577.30 (LTP) on Friday, at a premium of 150.45 points over spot closing of 24426.85, while Nifty October 2025 futures ended at 24699.00 (LTP), at a premium of 272.15 points over spot closing. Nifty September futures saw an addition of 8,945 units, taking the total outstanding open interest (Contracts) to 2,22,639 units. The near month derivatives contract will expire on September 30, 2025. (Provisional) 

From the most active contracts, Reliance Industries September 2025 futures traded at a premium of 8.00 points at 1364.00 (LTP) compared with spot closing of 1356.00. The numbers of contracts traded were 66,710. (Provisional) 

Infosys September 2025 futures traded at a premium of 6.80 points at 1475.80 (LTP) compared with spot closing of 1469.00. The numbers of contracts traded were 23,704. (Provisional) 

RBL Bank September 2025 futures traded at a premium of 1.80 points at 263.80 (LTP) compared with spot closing of 262.00. The numbers of contracts traded were 23,168. (Provisional) 

Eternal September 2025 futures traded at a premium of 2.40 points at 318.00 (LTP) compared with spot closing of 315.60. The numbers of contracts traded were 21,043. (Provisional) 

Mahindra and Mahindra September 2025 futures traded at a premium of 17.60 points at 3217.60 (LTP) compared with spot closing of 3200.00. The numbers of contracts traded were 18,942. (Provisional)

Among, Nifty calls, 25000 SP from the September month expiry was the most active call with an addition of 7,731 units open interests. Among Nifty puts, 24000 SP from the September month expiry was the most active put with an addition of 4,025 units open interests. The maximum OI outstanding for Calls was at 25000 SP (76,924 units) and that for Puts was at 24000 SP (65,178 units). The respective Support and Resistance levels of Nifty are: Resistance 24,531.30 -- Pivot Point 24,468.00 -- Support 24,363.55.

The Nifty Put Call Ratio (PCR) finally stood at (1.17) for September month contract. The top five scrips with highest PCR on Petronet LNG (1.40), Apl Apollo Tubes (1.35), Torrent Power (1.26), Nuvama Wealth Management (1.12), and ICICI Lombard General Insurance Company (1.12).

Among most active underlying, Reliance Industries witnessed an addition of 9,495 units of Open Interest in the September month future, RBL Bank witnessed an addition of 9,132  units of Open Interest in the September month future, Eternal witnessed a contraction of 210 units of Open Interest in the September month futures, BSE witnessed an addition of 2,604 units of Open Interest in the September month futures and Infosys witnessed an addition of 6,517 units of Open Interest in the September month futures. (Provisional).