Indian equity benchmark -- Nifty -- ended flat with positive bias on Thursday. Index made a gap-up start following broadly positive cues from other Asian Markets. Soon, index gained some traction and touched fresh all-time high levels during morning session. Sentiments were upbeat as the International Monetary Fund stated that India's economy is estimated to grow at 6.6 per cent in 2025-26, noting that the Goods and Services Tax reforms are likely to help cushion the country from the adverse impact of the 50 per cent tariffs imposed by the US. Further, sustained foreign fund inflow lifted investors’ sentiments. As per exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 4,778.03 crore on Wednesday. However, in second half of the session, index wiped out all gains and slipped into red terrain. Market participant opted to book profit at higher levels. But US Fed rate cut hopes helped market to end the session slightly in green.

Traders were seen piling up positions in Media, Private Bank and IT stocks, while selling was witnessed in Oil & Gas, Realty and Consumer Durables. The top gainers from the F&O segment were Ashok Leyland, Samvardhana Motherson International and Bajaj Finance. On the other hand, the top losers were Kaynes Technology India, PG Electroplast and Adani Enterprises. In the index option segment, maximum OI continues to be seen in the 26900 - 27100 calls and 25900 - 26100 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 1.52% and reached 11.79. The 50 share Nifty up by 10.25 point or 0.04% to settle at 26,215.55.

Nifty December 2025 futures closed at 26393.30 (LTP) on Thursday, at a premium of 177.75 points over spot closing of 26215.55, while Nifty January 2026 futures ended at 26545.00 (LTP), at a premium of 329.45 points over spot closing. Nifty December futures saw a contraction of 2,110 units, taking the total open interest (Contracts) to 1,84,573 units. The near month derivatives contract will expire on December 30, 2025. (Provisional)

From the most active contracts, HDFC Bank December 2025 futures traded at a premium of 4.75 points at 1013.80 (LTP) compared with spot closing of 1009.05. The numbers of contracts traded were 34,647. (Provisional)

State Bank of India December 2025 futures traded at a premium of 6.55 points at 979.55 (LTP) compared with spot closing of 973.00. The numbers of contracts traded were 24,999. (Provisional)

ICICI Bank December 2025 futures traded at a premium of 5.20 points at 1399.10 (LTP) compared with spot closing of 1393.90. The numbers of contracts traded were 23,684. (Provisional)

Kotak Mahindra Bank December 2025 futures traded at a premium of 16.50 points at 2129.10 (LTP) compared with spot closing of 2112.60. The numbers of contracts traded were 16,529. (Provisional)

Bajaj Finance December 2025 futures traded at a premium of 7.80 points at 1043.10 (LTP) compared with spot closing of 1035.30. The numbers of contracts traded were 16,477. (Provisional)

Among, Nifty calls, 27000 SP from the December month expiry was the most active call with an addition of 4,555 units open interests. Among Nifty puts, 26000 SP from the December month expiry was the most active put with a contraction of 4,645 units open interests. The maximum OI outstanding for Calls was at 27000 SP (94,408 units) and that for Puts was at 26000 SP (98,025 units). The respective Support and Resistance levels of Nifty are: Resistance 26303.37 -- Pivot Point 26222.63 -- Support 26134.82.

The Nifty Put Call Ratio (PCR) finally stood at (1.23) for December month contract. The top five scrips with highest PCR on Blue Star (1.40), Petronet LNG (1.27), Zydus Lifesciences (1.12), Havells India (1.07) and Coal India (1.06).

Among most active underlying ICICI Bank witnessed an addition of 6,310 units of Open Interest in the December month future, HDFC Bank witnessed an addition of 8,470 units of Open Interest in the December month future, State Bank of India witnessed an addition of 5,673 units of Open Interest in the December month futures, Kotak Mahindra Bank witnessed an addition of 5,828 units of Open Interest in the December month futures and Bajaj Finance witnessed a contraction of 1,017 units of Open Interest in the December month futures. (Provisional).