Indian equity benchmark -- Nifty -- extended its losing streak for the seventh consecutive session as traders remained cautious ahead of the Reserve Bank of India’s policy outcome on Wednesday. Index made a positive start following broadly positive cues from other Asian markets. Further, index gained traction and continued its trade in green terrain. Some support came with the Finance Ministry’s statement that recent GST rate cuts will help lower inflation over the next year and also bring a further upside bias to the country's growth prospects. However, in afternoon session, index give up all initial gains and turned volatile. Market participants remained cautious as Crisil Intelligence in its September report stated that high tariffs imposed by the United States (US) on Indian goods pose a major risk to the country's growth. Finally, market ended the Monday’s session below 24,650 mark. 

Traders were seen piling up positions in PSU Bank, Oil & Gas and Realty stocks, while selling was witnessed in Media, Private Bank and Consumer Durables. The top gainers from the F&O segment were Sammaan Capital, Petronet LNG and IIFL Finance. On the other hand, the top losers were Dixon Technologies (India), Kaynes Technology India 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 0.52% and reached 11.37. The 50 share Nifty down by 19.80 point or 0.08% to settle at 24,634.90.

Nifty September 2025 futures closed at 24695.00 (LTP) on Monday, at a premium of 60.10 points over spot closing of 24634.90, while Nifty October 2025 futures ended at 24825.00 (LTP), at a premium of 190.10 points over spot closing. Nifty September futures saw a contraction of 8,084 units, taking the total open interest (Contracts) to 1,21,142 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 discount of 3.40 points at 1372.60 (LTP) compared with spot closing of 1376.00. The numbers of contracts traded were 51,823. (Provisional)

HDFC Bank September 2025 futures traded at a premium of 0.40 points at 953.80 (LTP) compared with spot closing of 953.40. The numbers of contracts traded were 48,325. (Provisional)

Infosys September 2025 futures traded at a premium of 3.60 points at 1452.80 (LTP) compared with spot closing of 1449.20. The numbers of contracts traded were 44,669. (Provisional)

InterGlobe Aviation September 2025 futures traded at a discount of 3.00 points at 5568.00 (LTP) compared with spot closing of 5571.00. The numbers of contracts traded were 39,745. (Provisional)

ICICI Bank September 2025 futures traded at a premium of 3.30 points at 1353.30 (LTP) compared with spot closing of 1350.00. The numbers of contracts traded were 38,677. (Provisional)

Among, Nifty calls, 24800 SP from the September month expiry was the most active call with an addition of 54,076 units open interests. Among Nifty puts, 24700 SP from the September month expiry was the most active put with an addition of 45,408 units open interests. The maximum OI outstanding for Calls was at 25000 SP (2,55,944 units) and that for Puts was at 24000 SP (1,98,917 units). The respective Support and Resistance levels of Nifty are: Resistance 24748.73 -- Pivot Point 24677.47 -- Support 24563.63.

The Nifty Put Call Ratio (PCR) finally stood at (0.62) for September month contract. The top five scrips with highest PCR on Canara Bank (1.31), Sammaan Capital (1.28), Hindustan Petroleum Corporation (1.12), Sun Pharmaceutical Industries (1.10) and Petronet LNG (1.07).

Among most active underlying HDFC Bank witnessed an addition of 12,024 units of Open Interest in the September month future, ICICI Bank witnessed an addition of 6,201 units of Open Interest in the September month future, Reliance Industries witnessed an addition of 2,902 units of Open Interest in the September month futures, InterGlobe Aviation witnessed an addition of 5,169 units of Open Interest in the September month futures and Infosys witnessed an addition of 4,491 units of Open Interest in the September month futures. (Provisional).