Indian equity benchmark -- Nifty -- ended marginally lower on Tuesday. After making cautious start, index traded in green for little time and entered into red territory following broadly negative cues from other Asian markets. Market participants avoided risky bids ahead of monthly F&O expiry. In afternoon session, index trimmed most of its losses but soon touched day’s low levels. Sentiments were pessimistic as NCAER in its latest Business Expectations Survey stated that business sentiments in India moderated in the second quarter of the current fiscal year (Q2FY26), following three consecutive quarters of improvement, amid high global uncertainties, including additional US tariffs. However, in last leg of the trade, index recovered from day’s low and ends near neutral line with negative bias.

Traders were seen piling up positions in Metal, PSU Bank and Media stocks, while selling was witnessed in Realty, IT and Consumer Durables. The top gainers from the F&O segment were Suzlon Energy, UPL and Jindal Steel. On the other hand, the top losers were Vodafone Idea, Supreme Industries and BSE. In the index option segment, maximum OI continues to be seen in the 26400 - 26600 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 increased by 0.80% and reached 11.95. The 50 share Nifty down by 29.85 point or 0.11% to settle at 25,936.20.

Nifty November 2025 futures closed at 26099.00 (LTP) on Tuesday, at a premium of 162.80 points over spot closing of 25936.20, while Nifty December 2025 futures ended at 26272.00 (LTP), at a premium of 335.80 points over spot closing. Nifty November futures saw an addition of 56,792 units, taking the total open interest (Contracts) to 1,91,139 units. The near month derivatives contract will expire on November 25, 2025. (Provisional)

From the most active contracts, State Bank of India November 2025 futures traded at a premium of 4.10 points at 934.60 (LTP) compared with spot closing of 930.50. The numbers of contracts traded were 51,754. (Provisional)

ICICI Bank November 2025 futures traded at a premium of 7.90 points at 1374.10 (LTP) compared with spot closing of 1366.20. The numbers of contracts traded were 49,865. (Provisional)

Reliance Industries November 2025 futures traded at a premium of 6.20 points at 1495.90 (LTP) compared with spot closing of 1489.70. The numbers of contracts traded were 48,857. (Provisional)

HDFC Bank November 2025 futures traded at a premium of 3.55 points at 1008.45 (LTP) compared with spot closing of 1004.90. The numbers of contracts traded were 39,152. (Provisional)

Tata Consultancy Services November 2025 futures traded at a premium of 15.00 points at 3074.80 (LTP) compared with spot closing of 3059.80. The numbers of contracts traded were 37,744. (Provisional)

Among, Nifty calls, 26000 SP from the November month expiry was the most active call with an addition of 13,660 units open interests. Among Nifty puts, 26000 SP from the November month expiry was the most active put with an addition of 11,500 units open interests. The maximum OI outstanding for Calls was at 26500 SP (49,810 units) and that for Puts was at 25000 SP (58,662 units). The respective Support and Resistance levels of Nifty are: Resistance 26048.58 -- Pivot Point 25929.32 -- Support 25816.93.

The Nifty Put Call Ratio (PCR) finally stood at (1.20) for November month contract. The top five scrips with highest PCR on Petronet LNG (1.34), FSN E-Commerce Ventures (1.17), Jindal Steel (1.11), ABB India (1.10) and SBI Life Insurance Company (1.10).

Among most active underlying ICICI Bank witnessed an addition of 30,953 units of Open Interest in the November month future, HDFC Bank witnessed an addition of 25,171 units of Open Interest in the November month future, Reliance Industries witnessed an addition of 30,971 units of Open Interest in the November month futures, State Bank of India witnessed an addition of 22,826 units of Open Interest in the November month futures and Bharti Airtel witnessed an addition of 13,698 units of Open Interest in the November month futures. (Provisional).