Extending its previous session’s losses, Indian equity benchmark -- Nifty – ended lower on Tuesday ahead of US Fed’s monetary policy decision. Index made a gap-down start following broadly negative cues from other Asian markets. Soon, market extended its losses and continued to trade in red terrain. Market participants avoided risky bids amid weekly F&O expiry. Sentiments were pessimistic as reports stated that the US President Donald Trump indicated an additional 25 per cent tariff on Indian rice export to the United States. Further, persistent foreign fund outflow weighted on investors sentiments. As per exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 655.59 crore on Monday. However, in second half session, market witnessed some recovery but continued its trade in red. Finally, Nifty ended below 25,850 mark.

Traders were seen piling up positions in PSU Bank, Consumer Durables and Chemicals stocks, while selling was witnessed in IT, Auto and Pharma. The top gainers from the F&O segment were Kaynes Technology India, PG Electroplast and Vodafone Idea. On the other hand, the top losers were Asian Paints, Coforge and BSE. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 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 1.55% and reached 10.95. The 50 share Nifty down by 120.90 point or 0.47% to settle at 25,839.65.

Nifty December 2025 futures closed at 25958.80 (LTP) on Tuesday, at a premium of 119.15 points over spot closing of 25839.65, while Nifty January 2026 futures ended at 26125.00 (LTP), at a premium of 285.35 points over spot closing. Nifty December futures saw an addition of 13,211 units, taking the total open interest (Contracts) to 2,26,247 units. The near month derivatives contract will expire on December 30, 2025. (Provisional)

From the most active contracts, InterGlobe Aviation December 2025 futures traded at a premium of 27.00 points at 5015.00 (LTP) compared with spot closing of 4988.00. The numbers of contracts traded were 62,127. (Provisional) 

HDFC Bank December 2025 futures traded at a premium of 4.70 points at 1001.70 (LTP) compared with spot closing of 997.00. The numbers of contracts traded were 25,492. (Provisional)

Reliance Industries December 2025 futures traded at a premium of 2.20 points at 1534.60 (LTP) compared with spot closing of 1532.40. The numbers of contracts traded were 21,226. (Provisional)

BSE December 2025 futures traded at a premium of 14.90 points at 2714.90 (LTP) compared with spot closing of 2700.00. The numbers of contracts traded were 18,706. (Provisional)

Asian Paints December 2025 futures traded at a premium of 7.00 points at 2800.70 (LTP) compared with spot closing of 2793.70. The numbers of contracts traded were 18,222. (Provisional)

Among, Nifty calls, 26000 SP from the December month expiry was the most active call with an addition of 16,530 units open interests. Among Nifty puts, 26000 SP from the December month expiry was the most active put with an addition of 455 units open interests. The maximum OI outstanding for Calls was at 26000 SP (1,09,771 units) and that for Puts was at 26000 SP (98,850 units). The respective Support and Resistance levels of Nifty are: Resistance 25932.87 -- Pivot Point 25830.43 -- Support 25737.22.

The Nifty Put Call Ratio (PCR) finally stood at (1.03) for December month contract. The top five scrips with highest PCR on Petronet LNG (1.10), Coal India (1.02), Voltas (0.95), AU Small Finance Bank (0.93) and Grasim Industries (0.92).

Among most active underlying InterGlobe Aviation witnessed an addition of 7,330 units of Open Interest in the December month future, BSE witnessed an addition of 2,763 units of Open Interest in the December month future, Reliance Industries witnessed an addition of 6,774 units of Open Interest in the December month futures, ICICI Bank witnessed an addition of 3,201 units of Open Interest in the December month futures and HDFC Bank witnessed an addition of 6,963 units of Open Interest in the December month futures. (Provisional).