Nifty removed previous session’s gain and ended deeply in red on Friday. Index made a gap-down start and remained under pressure throughout the day amid escalated geopolitical tensions, as Iran claimed that it struck a U.S. oil tanker in the northern Persian Gulf, raising fears of a wider conflict after the Islamic republic threatened to halt shipping through the vital Strait of Hormuz. Besides, investors opted to remained on sideline amid persistent foreign fund outflow. As per exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 3,752.52 on Thursday. Further, traders were cautious with Global Trade Research Initiative’s (GTRI) report stating that prolonged disruptions to shipping through the Strait of Hormuz beyond a week could rapidly spill over from energy markets to India’s fertiliser supplies, industrial inputs, construction materials and export sectors such as diamonds.

Most of the sectorial indices ended in red led by Private Bank, Realty and PSU Bank. The top gainers from the F&O segment were Bharat Dynamics, Mazagon Dock Shipbuilders and United Spirits. On the other hand, the top losers were Ashok Leyland, Godrej Properties and Info Edge (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 11.32% and reached 19.88. The 50 share Nifty down by 315.45 point or 1.27% to settle at 24,450.45.

Nifty March 2026 futures closed at 24565.20 (LTP) on Friday, at a premium of 114.75 points over spot closing of 24450.45, while Nifty April 2026 futures ended at 24727.50 (LTP), at a premium of 277.05 points over spot closing. Nifty March futures saw an addition of 7,479 units, taking the total open interest (Contracts) to 2,45,398 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 5.50 points at 862.70 (LTP) compared with spot closing of 857.20. The numbers of contracts traded were 55,956. (Provisional)

Reliance Industries March 2026 futures traded at a premium of 4.00 points at 1411.00 (LTP) compared with spot closing of 1407.00. The numbers of contracts traded were 47,441. (Provisional)

ICICI Bank March 2026 futures traded at a premium of 5.30 points at 1320.40 (LTP) compared with spot closing of 1315.10. The numbers of contracts traded were 34,460. (Provisional)

Mazagon Dock Shipbuilders March 2026 futures traded at a premium of 6.20 points at 2484.20 (LTP) compared with spot closing of 2478.00. The numbers of contracts traded were 28,171. (Provisional)

Tata Consultancy Services March 2026 futures traded at a premium of 12.80 points at 2572.80 (LTP) compared with spot closing of 2560.00. The numbers of contracts traded were 26,020. (Provisional)

Among, Nifty calls, 25000 SP from the March month expiry was the most active call with an addition of 7,648 units open interests. Among Nifty puts, 24500 SP from the March month expiry was the most active put with an addition of 3,246 units open interests. The maximum OI outstanding for Calls was at 26000 SP (1,03,844 units) and that for Puts was at 24000 SP (87,914 units). The respective Support and Resistance levels of Nifty are: Resistance 24628.98 -- Pivot Point 24522.37 -- Support 24343.83.

The Nifty Put Call Ratio (PCR) finally stood at (1.14) for March month contract. The top five scrips with highest PCR on GAIL (India) (1.21), Polycab India (1.13), REC (1.12), Oberoi Realty (1.12), and Jindal Steel (1.09).

Among most active underlying Reliance Industries witnessed an addition of 3,986 units of Open Interest in the March month future, ICICI Bank witnessed an addition of 12,609 units of Open Interest in the March month future, HDFC Bank witnessed an addition of 11,164 units of Open Interest in the March month futures, State Bank of India witnessed an addition of 6,349 units of Open Interest in the March month futures and Mazagon Dock Shipbuilders witnessed an addition of 372 units of Open Interest in the March month futures. (Provisional).