Indian equity benchmark -- Nifty -- ended near all-time high levels on Friday. Index made a positive start following broadly positive cues from other Asian markets. Sentiments were optimistic as the government data showed that gross GST collections rose 6.1 per cent to over Rs 1.74 lakh crore in December 2025, on slow growth in revenues from domestic sales following the sweeping tax cuts. Besides, market participants took note of HSBC India Manufacturing Purchasing Managers’ Index (PMI) data which stood at 55.0 in December 2025, remaining comfortably above the neutral mark of 50.0. In afternoon session, market continued its firm trade in northward direction. Traders took support with report that India-UK Comprehensive Economic and Trade Agreement (CETA) expected to be implemented in the first half of 2026, marking a new era in partnership between the two nations. In last leg of the trade, market touched all time high levels and ended above 26,300 mark.

Most of the sectorial indices ended in green except FMCG stocks. The top gainers from the F&O segment were Bosch, Coal India and Torrent Power. On the other hand, the top losers were ITC, Waaree Energies and APL Apollo Tubes. 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 increased by 2.88% and reached 9.45. The 50 share Nifty up by 182.00 point or 0.70% to settle at 26,328.55.

Nifty January 2026 futures closed at 26478.30 (LTP) on Friday, at a premium of 149.75 points over spot closing of 26328.55, while Nifty February 2026 futures ended at 26615.00 (LTP), at a premium of 286.45 points over spot closing. Nifty January futures saw a contraction of 1,221 units, taking the total open interest (Contracts) to 2,14,220 units. The near month derivatives contract will expire on January 27, 2026. (Provisional)

From the most active contracts, ITC January 2026 futures traded at a premium of 1.05 points at 351.15 (LTP) compared with spot closing of 350.10. The numbers of contracts traded were 66,856. (Provisional)

Coal India January 2026 futures traded at a premium of 2.90 points at 432.00 (LTP) compared with spot closing of 429.10. The numbers of contracts traded were 29,930. (Provisional)

HDFC Bank January 2026 futures traded at a premium of 3.90 points at 1004.15 (LTP) compared with spot closing of 1000.25. The numbers of contracts traded were 29,196. (Provisional)

REC January 2026 futures traded at a premium of 1.80 points at 383.30 (LTP) compared with spot closing of 381.50. The numbers of contracts traded were 22,467. (Provisional)

State Bank of India January 2026 futures traded at a premium of 7.30 points at 1012.95 (LTP) compared with spot closing of 1005.65. The numbers of contracts traded were 21,644. (Provisional)

Among, Nifty calls, 26500 SP from the January month expiry was the most active call with an addition of 10,109 units open interests. Among Nifty puts, 26000 SP from the January month expiry was the most active put with an addition of 10,023 units open interests. The maximum OI outstanding for Calls was at 27000 SP (79,460 units) and that for Puts was at 26000 SP (99,763 units). The respective Support and Resistance levels of Nifty are: Resistance 26406.23 -- Pivot Point 26262.32 -- Support 26184.63.

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 (1.50), Grasim Industries (1.14), JSW Energy (1.14), LIC Housing Finance (1.12) and Hindalco Industries (1.11).

Among most active underlying ITC witnessed an addition of 22,264 units of Open Interest in the January month future, Coal India witnessed an addition of 1,728 units of Open Interest in the January month future, ICICI Bank witnessed an addition of 4,248 units of Open Interest in the January month futures, HDFC Bank witnessed an addition of 11,243 units of Open Interest in the January month futures and State Bank of India witnessed an addition of 8,521 units of Open Interest in the January month futures. (Provisional).