Indian equity benchmark -- Nifty ended lower on Thursday amid soaring crude oil price (above $120 per barrel) and rising geopolitical tensions between U.S.-Iran. The U.S. attacked and seized an Iranian-flagged cargo ship trying to overtake its blockade in Strait of Hormuz. Index began the session with cut of around a percent on account of weak cues from the global markets. Soon, indices extended its losses as traders avoided risky bids ahead of long weekend holiday as markets to remain close on Friday on account of Maharashtra Day. Besides, sentiments were downbeat with persistent foreign fund outflow. As per exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,468.42 crore on April 29. Further, cautiousness also prevailed in the market as the Asian Development Bank (ADB) downgraded its 2026 economic growth outlook to 4.7 per cent from 5.1 per cent earlier for Asia and the Pacific, as prolonged West Asia disruptions are fuelling energy prices and tightening financial conditions across the region. Meanwhile, rupee depreciation to all-time-low of 95.34 against U.S. Dollar, also impacted trading sentiments. However, in second of the session, index witnessed some recovery in but eventually ended in red terrain.

Most of the sectorial indices ended in red except Pharma and IT. The top gainers from the F&O segment were Bajaj Auto, Sammaan Capital and R KPIT Technologies. On the other hand, the top losers were Waaree Energies, National Aluminium Company and Kfin Technologies. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 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 5.86% and reached 18.46. The 50 share Nifty down by 180.10 point or 0.74% to settle at 23,997.55.

Nifty May 2026 futures closed at 24136.70 (LTP) on Thursday, at a premium of 139.15 points over spot closing of 23997.55, while Nifty June 2026 futures ended at 24244.40 (LTP), at a premium of 246.85 points over spot closing. Nifty May futures saw an addition of 17,540 units, taking the total open interest (Contracts) to 2,38,255 units. The near month derivatives contract will expire on May 26, 2026. (Provisional)

From the most active contracts, HDFC Bank May 2026 futures traded at a premium of 3.25 points at 778.00 (LTP) compared with spot closing of 774.75. The numbers of contracts traded were 37,809. (Provisional)

Bajaj Finance May 2026 futures traded at a premium of 3.55 points at 943.25 (LTP) compared with spot closing of 939.70. The numbers of contracts traded were 36,665. (Provisional)

Waaree Energies May 2026 futures traded at a premium of 8.10 points at 3138.00 (LTP) compared with spot closing of 3129.90. The numbers of contracts traded were 34,747. (Provisional)

Hindustan Unilever May 2026 futures traded at a premium of 4.80 points at 2258.80 (LTP) compared with spot closing of 2254.00. The numbers of contracts traded were 32,308. (Provisional)

Reliance Industries May 2026 futures traded at a premium of 3.50 points at 1439.50 (LTP) compared with spot closing of 1436.00. The numbers of contracts traded were 31,906. (Provisional)

Among, Nifty calls, 24000 SP from the May month expiry was the most active call with an addition of 15,416 units open interests. Among Nifty puts, 24000 SP from the May month expiry was the most active put with an addition of 4,042 units open interests. The maximum OI outstanding for Calls was at 25000 SP (76,119 units) and that for Puts was at 24000 SP (63,151 units). The respective Support and Resistance levels of Nifty are: Resistance 24124.38 -- Pivot Point 23960.62 -- Support 23833.78.

The Nifty Put Call Ratio (PCR) finally stood at (1.12) for May month contract. The top five scrips with highest PCR on Polycab India (1.44), The Indian Hotels Company (1.31), Prestige Estates Projects (1.26), Max Financial Services (1.18), and Petronet LNG (1.15).

Among most active underlying Bajaj Finance witnessed a contraction of 2,473 units of Open Interest in the May month futures, Reliance Industries witnessed an addition of 5,232 units of Open Interest in the May month future, Hindustan Unilever witnessed an addition of 5,939 units of Open Interest in the May month future, Waaree Energies witnessed an addition of 13,875 units of Open Interest in the May month futures and HDFC Bank witnessed an addition of 9,411 units of Open Interest in the May month futures. (Provisional).