Indian equity benchmark -- Nifty ended higher with gain of over 0.75 per cent on Wednesday, driven by strong Q4 earnings and valued buying following recent correction. Index began the session on a positive note following positive cues from other Asian markets. Soon, index added more gain, driven by FMCG, Realty and Auto stocks. Sentiments were upbeat with industry body EEPC India's Chairman Pankaj Chadha stating that India's engineering exports to New Zealand are poised to double over the next five years from $140.5 million to $280-300 million, following the signing of a free trade agreement (FTA) that grants zero-duty market access to all Indian goods. Further, there were encouragements in market as Commerce and Industry Minister Piyush Goyal said that he will visit Canada next month to speed up negotiations for the proposed free trade agreement (FTA). On March 02, India and Canada launched negotiations for the agreement with an aim to finalise the pact soon. However, in second half of the session, index trimmed some of its gain on account of profit taking but continued its trade in green terrain till the end of session.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 3.37% and reached 17.44. The 50 share Nifty down by 181.95 point or 0.76% to settle at 24,177.65.

Nifty May 2026 futures closed at 24232.00 (LTP) on Wednesday, at a premium of 54.35 points over spot closing of 24177.65, while Nifty June 2026 futures ended at 24359.50 (LTP), at a premium of 181.85 points over spot closing. Nifty May futures saw an addition of 2,674 units, taking the total open interest (Contracts) to 2,25,097 units. The near month derivatives contract will expire on May 26, 2026. (Provisional)

From the most active contracts, Eternal May 2026 futures traded at a premium of 1.05 points at 254.52 (LTP) compared with spot closing of 253.47. The numbers of contracts traded were 44,752. (Provisional)

Reliance Industries May 2026 futures traded at a premium of 3.60 points at 1433.60 (LTP) compared with spot closing of 1430.00. The numbers of contracts traded were 42,221. (Provisional)

HDFC Bank May 2026 futures traded at a premium of 5.30 points at 783.60 (LTP) compared with spot closing of 778.30. The numbers of contracts traded were 31,647. (Provisional)

ITC May 2026 futures traded at a premium of 1.05 points at 317.05 (LTP) compared with spot closing of 316.00. The numbers of contracts traded were 26,737. (Provisional)

Bandhan Bank May 2026 futures traded at a premium of 0.10 points at 198.77 (LTP) compared with spot closing of 198.67. The numbers of contracts traded were 25,997. (Provisional)

Among, Nifty calls, 25000 SP from the May month expiry was the most active call with a contraction of 2,497 units open interests. Among Nifty puts, 24000 SP from the May month expiry was the most active put with an addition of 2,344 units open interests. The maximum OI outstanding for Calls was at 25000 SP (65,185 units) and that for Puts was at 24000 SP (59,117 units). The respective Support and Resistance levels of Nifty are: Resistance 24321.58 -- Pivot Point 24190.77 -- Support 24046.83.

The Nifty Put Call Ratio (PCR) finally stood at (1.13) for May month contract. The top five scrips with highest PCR on Polycab India (1.50), One 97 Communications (1.30), Petronet LNG (1.26), Mankind Pharma (1.25), and The Indian Hotels Company (1.25).

Among most active underlying Reliance Industries witnessed an addition of 9,633 units of Open Interest in the May month futures, Eternal witnessed an addition of 9,907 units of Open Interest in the May month future, Bandhan Bank witnessed an addition of 2,967 units of Open Interest in the May month future, The Federal Bank witnessed an addition of 17,447 units of Open Interest in the May month futures and ICICI Bank witnessed an addition of 6,974 units of Open Interest in the May month futures. (Provisional).