Indian equity benchmark -- Nifty ended Tuesday’s session with cut of over half a percent as traders were cautious ahead of RBI monetary policy decision during this week. Market made a negative start and extended its losses amid persistent foreign fund outflows. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,171.31 crore on Monday, according to exchange data. Sentiments were downbeat as India’s industrial output growth, measured in terms of the Index of Industrial Production (IIP), grew 0.4 per cent (Year-on-Year) in October 2025. The slow growth in the month could be attributed to less number of working days because of a number of festivals in the month including Dussehra, Dipawali and Chhath. Besides, Gross Goods and Services Tax (GST) collection rose at a slower pace of 0.7% in November 2025 at Rs 1.70 lakh crore, as domestic revenues declined. Gross Goods and Services Tax collection was over Rs 1.69 lakh crore in November 2024. 

In afternoon session, index continued its weak trade and remained lower till the end of the session. Investors overlooked the government’s latest data showing that Foreign direct investment (FDI) equity inflows into India rose 18 per cent to $35.18 billion during April-September this fiscal year (H1FY26). Finally, Nifty ended below 26,050 mark.

All the sectorial indices ended in red. The top gainers from the F&O segment were Asian Paints, Hitachi Energy India and Vodafone Idea. On the other hand, the top losers were NBCC, Nuvama Wealth Management and Indian Bank. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 25800 - 26150 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 3.42% and reached 11.23. The 50 share Nifty down by 143.55 points or 0.55% to settle at 26,032.20.

Nifty December 2025 futures closed at 26228.90 (LTP) on Tuesday, at a premium of 196.70 points over spot closing of 26032.20, while Nifty January 2026 futures ended at 26408.10 (LTP), at a premium of 375.90 points over spot closing.  Nifty December futures saw an addition of 7,898 units, taking the total outstanding open interest to 1,95,595 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 5.90 points at 997.30 (LTP) compared with spot closing of 991.40. The numbers of contracts traded were 31,459. (Provisional)

Reliance Industries December 2025 futures traded at a premium of 10.40 points at 1558.70 (LTP) compared with spot closing of 1548.30. The numbers of contracts traded were 20,943. (Provisional)

SBIN December 2025 futures traded at a premium of 6.00 points at 975.90 (LTP) compared with spot closing of 969.90. The numbers of contracts traded were 19,518. (Provisional)

ICICI Bank December 2025 futures traded at a premium of 8.10 points at 1381.90 (LTP) compared with spot closing of 1373.80. The numbers of contracts traded were 17,793. (Provisional)

Asian Paints December 2025 futures traded at a premium of 20.00 points at 2978.00 (LTP) compared with spot closing of 2958.00. The numbers of contracts traded were 11,832. (Provisional)  

Among, Nifty calls, 26100 SP from the December month expiry was the most active call with an addition of 1,89,548 units open interests. Among Nifty puts, 26000 SP from the December month expiry was the most active put with an addition of 2,18,605 units open interests. The maximum OI outstanding for Calls was at 26,050 SP (3,62,864 units) and that for Puts was at 26000 SP (4,30,706 units). The respective Support and Resistance levels of Nifty are: Resistance 26,292.97 -- Pivot Point 26,208.58 -- Support 26,091.37.

The Nifty Put Call Ratio (PCR) finally stood at (1.16) for December month contract. The top five scrips with highest PCR on Petronet LNG (1.22), TVS Motor (1.16), Havells India (1.00), LIC Housing Finance (0.99) and Bank of Baroda (0.99). 

Among most active underlying, HDFC Bank witnessed an addition of 761 units of Open Interest in the December month futures, Reliance Industries witnessed an addition of 3,155 units of Open Interest in the December month future, ICICI Bank witnessed an addition of 3,931 units of Open Interest in the December month future, SBIN witnessed an addition of 4,112 units of Open Interest in the December month future and Bank of Baroda witnessed an addition of 356 units of Open Interest in the December month future. (Provisional)