Indian equity benchmark -- Nifty -- ended lower on Thursday. After making slight negative start index gained some traction to trade in green for little time. Traders took some support with Commerce and Industry Minister Piyush Goyal’s statement that India and the U.S. holding continuous discussions for the proposed bilateral trade agreement. In a while, index wiped out all initial gains and continued its choppy trades in red terrain. Persistent foreign fund outflow weighted on investors sentiment. As per exchange data, foreign institutional investors (FII) sold equities worth Rs 1,067.01 crore on Tuesday. Further, sentiments were weak as the seasonally adjusted HSBC India Services PMI Business Activity Index slowed down to 58.9 in October from 60.9 in September. In afternoon session, market witnessed some recovery from losses. However, in last leg of the trade, market erased all recovery and extended its losses till the end of the session.

Most of the sectorial indices ended in red except IT and Auto stocks. The top gainers from the F&O segment were Astral, Asian Paints and One 97 Communications. On the other hand, the top losers were Delhivery, Blue Star and Grasim Industries. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 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 1.91% and reached 12.41. The 50 share Nifty down by 87.95 point or 0.34% to settle at 25,509.70.

Nifty November 2025 futures closed at 25637.20 (LTP) on Thursday, at a premium of 127.50 points over spot closing of 25509.70, while Nifty December 2025 futures ended at 25820.30 (LTP), at a premium of 310.60 points over spot closing. Nifty November futures saw an addition of 1,490 units, taking the total open interest (Contracts) to 2,37,319 units. The near month derivatives contract will expire on November 25, 2025. (Provisional)

From the most active contracts, Hindalco Industries November 2025 futures traded at a premium of 4.50 points at 791.05 (LTP) compared with spot closing of 786.55. The numbers of contracts traded were 57,993. (Provisional) 

State Bank of India November 2025 futures traded at a premium of 2.10 points at 961.95 (LTP) compared with spot closing of 959.85. The numbers of contracts traded were 43,177. (Provisional) 

Reliance Industries November 2025 futures traded at a premium of 2.90 points at 1497.70 (LTP) compared with spot closing of 1494.80. The numbers of contracts traded were 30,708. (Provisional) 

HDFC Bank November 2025 futures traded at a premium of 4.45 points at 991.95 (LTP) compared with spot closing of 987.50. The numbers of contracts traded were 28,491. (Provisional) 

ICICI Bank November 2025 futures traded at a premium of 7.40 points at 1327.70 (LTP) compared with spot closing of 1320.30. The numbers of contracts traded were 27,624. (Provisional)

Among, Nifty calls, 26000 SP from the November month expiry was the most active call with an addition of 5,171 units open interests. Among Nifty puts, 25500 SP from the November month expiry was the most active put with a contraction of 1,996 units open interests. The maximum OI outstanding for Calls was at 26000 SP (87,843 units) and that for Puts was at 25000 SP (63,812 units). The respective Support and Resistance levels of Nifty are: Resistance 25628.72 -- Pivot Point 25560.13 -- Support 25441.12.

The Nifty Put Call Ratio (PCR) finally stood at (1.05) for November month contract. The top five scrips with highest PCR on Petronet LNG (1.27), Canara Bank (1.10), Alkem Laboratories (1.10), Hitachi Energy India (1.10) and Indian Oil Corporation (1.09).

Among most active underlying Hindalco Industries witnessed an addition of 17,133 units of Open Interest in the November month future, State Bank of India witnessed an addition of 3,742 units of Open Interest in the November month future, ICICI Bank witnessed an addition of 9,752 units of Open Interest in the November month futures, Reliance Industries witnessed an addition of 2,820 units of Open Interest in the November month futures and One 97 Communications witnessed an addition of 1,102 units of Open Interest in the November month futures. (Provisional).