Extending losing streak for third consecutive session, Indian equity benchmark -- Nifty dropped by over one and half percent on Wednesday amid escalated geopolitical tensions. Elevated Middle East tensions and escalating US-Israel-Iran war weighed on market sentiments. Index began the session with cut of over two percent on account of weak cues from the global markets. Investors were cautious as crude oil prices surged and fears grew that a prolonged war in Middle East could disrupt global energy supplies and fuel inflation. Meanwhile, rupee depreciation to all-time-low of 92.26 against U.S. Dollar, also impacted trading sentiments. In second half of the session, market remained under selling pressure as traders waited for more clarity over ongoing geopolitical developments. Finally, Nifty ended below 24,500 mark.

Most of the sectorial indices ended in red led by Metal, PSU Bank and Realty. The top gainers from the F&O segment were Solar Industries India, National Aluminium Company and Swiggy. On the other hand, the top losers were Petronet LNG, Tata Steel and Steel Authority of India. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 23.40% and reached 21.14. The 50 share Nifty down by 385.20 point or 1.55% to settle at 24,480.50.

Nifty March 2026 futures closed at 24578.00 (LTP) on Wednesday, at a premium of 97.50 points over spot closing of 24480.50, while Nifty April 2026 futures ended at 24735.60 (LTP), at a premium of 255.10 points over spot closing. Nifty March futures saw an addition of 13,829 units, taking the total open interest (Contracts) to 2,44,907 units. The near month derivatives contract will expire on March 30, 2026. (Provisional)

From the most active contracts, HDFC Bank March 2026 futures traded at a premium of 6.00 points at 875.00 (LTP) compared with spot closing of 869.00. The numbers of contracts traded were 69,888. (Provisional)

Reliance Industries March 2026 futures traded at a premium of 4.30 points at 1349.50 (LTP) compared with spot closing of 1345.20. The numbers of contracts traded were 37,883. (Provisional)

Infosys March 2026 futures traded at a premium of 5.30 points at 1311.40 (LTP) compared with spot closing of 1306.10. The numbers of contracts traded were 32,650. (Provisional)

Larsen & Toubro March 2026 futures traded at a premium of 0.50 points at 3882.50 (LTP) compared with spot closing of 3882.00. The numbers of contracts traded were 31,006. (Provisional)

State Bank of India March 2026 futures traded at a premium of 7.20 points at 1180.50 (LTP) compared with spot closing of 1173.30. The numbers of contracts traded were 27,418. (Provisional)

Among, Nifty calls, 25000 SP from the March month expiry was the most active call with an addition of 17,708 units open interests. Among Nifty puts, 24000 SP from the March month expiry was the most active put with an addition of 6,637 units open interests. The maximum OI outstanding for Calls was at 26000 SP (99,034 units) and that for Puts was at 24000 SP (88,233 units). The respective Support and Resistance levels of Nifty are: Resistance 24620.17 -- Pivot Point 24462.78 -- Support 24323.12.

The Nifty Put Call Ratio (PCR) finally stood at (1.19) for March month contract. The top five scrips with highest PCR on GAIL (India) (1.33), Jindal Steel (1.17), Petronet LNG (1.13), Lodha Developers (1.13), and Dalmia Bharat (1.12).

Among most active underlying HDFC Bank witnessed an addition of 20,716 units of Open Interest in the March month future, Reliance Industries witnessed an addition of 5,404 units of Open Interest in the March month future, State Bank of India witnessed an addition of 4,206 units of Open Interest in the March month futures, Tata Steel witnessed an addition of 2,433 units of Open Interest in the March month futures and Larsen & Toubro witnessed an addition of 4,319 units of Open Interest in the March month futures. (Provisional).