Extending losing streak for fifth-straight session, Indian equity benchmark -- Nifty -- ended lower on Friday amid renewed US President Donald Trump’s tariff jitters. Index made flat-to-negative start and continued its trade near neutral line with negative bias. Traders overlooked State Bank of India report stated that India's economy is expected to grow at 7.5 per cent in 2025-26 with upward bias, marginally higher from NSO's estimate of 7.4 per cent. In late morning session, market extended its losses and continued to witness weakness till the end of the session. Traders avoided risky bids amid U.S. President Donald Trump’s decisions to back a Bill mandating up to 500% tariffs on countries buying Russian oil. Further, persistent selling by foreign institutional investors (FIIs) dampened investors sentiments. As per exchange data, FIIs offloaded equity worth Rs 3,367.12 crore on Thursday. Finally, Nifty ends below 25,700 mark.

Most of the sectorial indices ended in red except Oil & Gas, FMCG and IT stocks. The top gainers from the F&O segment were National Aluminium Company, Hindustan Zinc and Oil India. On the other hand, the top losers were Indian Energy Exchange, Manappuram Finance and Godrej Properties. 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 increased by 3.06% and reached 10.93. The 50 share Nifty down by 193.55 point or 0.75% to settle at 25,683.30.

Nifty January 2026 futures closed at 25810.80 (LTP) on Friday, at a premium of 127.50 points over spot closing of 25683.30, while Nifty February 2026 futures ended at 25960.00 (LTP), at a premium of 276.70 points over spot closing. Nifty January futures saw an addition of 12,683 units, taking the total open interest (Contracts) to 2,62,871 units. The near month derivatives contract will expire on January 27, 2026. (Provisional) 

From the most active contracts, Indian Energy Exchange January 2026 futures traded at a premium of 0.28 points at 139.47 (LTP) compared with spot closing of 139.19. The numbers of contracts traded were 56,000. (Provisional) 

HDFC Bank January 2026 futures traded at a premium of 3.90 points at 942.90 (LTP) compared with spot closing of 939.00. The numbers of contracts traded were 45,574. (Provisional) 

Vodafone Idea January 2026 futures traded flat with its spot closing of 11.30. The numbers of contracts traded were 36,737. (Provisional)

Bharat Heavy Electricals January 2026 futures traded at a premium of 0.65 points at 273.15 (LTP) compared with spot closing of 272.50. The numbers of contracts traded were 32,543. (Provisional) 

ICICI Bank January 2026 futures traded at a premium of 5.00 points at 1410.00 (LTP) compared with spot closing of 1405.00. The numbers of contracts traded were 29,583. (Provisional) 

Among, Nifty calls, 26000 SP from the January month expiry was the most active call with an addition of 29,627 units open interests. Among Nifty puts, 25800 SP from the January month expiry was the most active put with a contraction of 6,598 units open interests. The maximum OI outstanding for Calls was at 26000 SP (1,23,677 units) and that for Puts was at 26000 SP (89,948 units). The respective Support and Resistance levels of Nifty are: Resistance 25874.93 -- Pivot Point 25748.97 -- Support 25557.33.

The Nifty Put Call Ratio (PCR) finally stood at (0.89) for January month contract. The top five scrips with highest PCR on Petronet LNG (1.41), LIC Housing Finance (1.10), Grasim Industries (1.06), Eicher Motors (1.02) and JSW Steel (0.93).

Among most active underlying Indian Energy Exchange witnessed an addition of 2,813 units of Open Interest in the January month future, Vodafone Idea witnessed a contraction of 274 units of Open Interest in the January month future, ICICI Bank witnessed an addition of 6,531 units of Open Interest in the January month futures, HDFC Bank witnessed an addition of 9,870 units of Open Interest in the January month futures and Bharat Heavy Electricals witnessed an addition of 4,326 units of Open Interest in the January month futures. (Provisional).