Indian equity benchmark -- Nifty ended with gains of over half a percent on last trading session of 2025. Index made a slightly positive start following weak cues from other Asian markets. In a while, market gained traction and continued its firm trade. Investors opted to buy fundamentally good stocks at lower levels. Meanwhile, some support came with the Reserve Bank of India’s (RBI) report stated that it will conduct an auction of open market operations purchase of government securities worth Rs 50,000 crore on January 5, 2026, to inject liquidity in the system. In afternoon session, market continued its gaining momentum. Sentiments were upbeat as government has launched Rs 4,531 crore market access support for exporters under which financial support will be provided to participate in activities such as international fairs and exhibitions. Finally, nifty ended above 26,100 mark.

Most of the sectorial indices ended in green except IT stocks. The top gainers from the F&O segment were Hindustan Petroleum Corporation, JSW Steel and Steel Authority of India. On the other hand, the top losers were Vodafone Idea, Hindustan Zinc and Swiggy. 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 2.09% and reached 9.48. The 50 share Nifty up by 190.75 point or 0.74% to settle at 26,129.60.

Nifty January 2026 futures closed at 26304.80 (LTP) on Wednesday, at a premium of 175.20 points over spot closing of 26129.60, while Nifty February 2026 futures ended at 26444.00 (LTP), at a premium of 314.40 points over spot closing. Nifty January futures saw an addition of 2,669 units, taking the total open interest (Contracts) to 2,17,415 units. The near month derivatives contract will expire on January 27, 2026. (Provisional)

From the most active contracts, Vodafone Idea January 2026 futures traded at a premium of 0.05 points at 10.72 (LTP) compared with spot closing of 10.67. The numbers of contracts traded were 67,292. (Provisional)

Indus Towers January 2026 futures traded at a premium of 2.00 points at 423.00 (LTP) compared with spot closing of 421.00. The numbers of contracts traded were 31,954. (Provisional)

Steel Authority of India January 2026 futures traded at a premium of 1.11 points at 148.21 (LTP) compared with spot closing of 147.10. The numbers of contracts traded were 22,398. (Provisional)

Reliance Industries January 2026 futures traded at a premium of 8.20 points at 1577.20 (LTP) compared with spot closing of 1569.00. The numbers of contracts traded were 21,786. (Provisional)

Dixon Technologies (India) January 2026 futures traded at a premium of 59.00 points at 12120.00 (LTP) compared with spot closing of 12061.00. The numbers of contracts traded were 20,923. (Provisional)

Among, Nifty calls, 26500 SP from the January month expiry was the most active call with a contraction of 12,131 units open interests. Among Nifty puts, 26000 SP from the January month expiry was the most active put with an addition of 780 units open interests. The maximum OI outstanding for Calls was at 27000 SP (72,017 units) and that for Puts was at 26000 SP (90,613 units). The respective Support and Resistance levels of Nifty are: Resistance 26222.03 -- Pivot Point 26095.52 -- Support 26003.08.

The Nifty Put Call Ratio (PCR) finally stood at (1.07) for January month contract. The top five scrips with highest PCR on Petronet LNG (1.47), ICICI Lombard General Insurance Company (1.28), Havells India (1.18), LIC Housing Finance (1.16) and Union Bank of India (1.11).

Among most active underlying Vodafone Idea witnessed an addition of 3,425 units of Open Interest in the January month future, Indus Towers witnessed an addition of 2,829 units of Open Interest in the January month future, Reliance Industries witnessed an addition of 3,523 units of Open Interest in the January month futures, JSW Steel witnessed an addition of 919 units of Open Interest in the January month futures and Steel Authority of India witnessed an addition of 439 units of Open Interest in the January month futures. (Provisional).