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Nifty ends lower for third straight session
Jul-22-2026

Nifty continued its weak trend for the third consecutive day and closed Wednesday’s session below the crucial 24,000 mark, as ongoing West Asia tensions and a spike in crude oil prices weighed on investors’ sentiments. Market made a gap-down start and remained under pressure throughout the day, as traders were concerned with US President Donald Trump’s proposed tariffs of up to 200% on generic drug imports into the United States. Besides, heavy selling in almost all the sectors dragged the market lower. Meanwhile, traders took a note of Finance Minister Nirmala Sitharaman’s statement that the rupee's value against the US dollar is market-determined and there is no target or specific band for the domestic currency. Finally, Nifty ended lower with cut of 0.79%.

Most of the sectorial indices ended in red except FMCG and Auto stocks. The top gainers from the F&O segment were Bajaj Auto, Nestle India and TVS Motor Company. On the other hand, the top losers were Bandhan Bank, Oracle Financial Services Software and PG Electroplast. In the index option segment, maximum OI continues to be seen in the 23900 - 24100 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 5.49% and reached 13.29. The 50 share Nifty down by 191.45 point or 0.79% to settle at 23,996.25.

Nifty July 2026 futures closed at 23982.00 (LTP) on Wednesday, at a discount of 14.25 points over spot closing of 23996.25, while Nifty August 2026 futures ended at 24077.10 (LTP), at a premium of 80.85 points over spot closing. Nifty July futures saw an addition of 2,961 units, taking the total open interest (Contracts) to 2,23,471 units. The near month derivatives contract will expire on July 28, 2026. (Provisional)

From the most active contracts, HDFC Bank July 2026 futures traded at a premium of 0.50 points at 754.40 (LTP) compared with spot closing of 753.90. The numbers of contracts traded were 78,241. (Provisional)

Infosys July 2026 futures traded at a premium of 0.30 points at 1052.30 (LTP) compared with spot closing of 1052.00. The numbers of contracts traded were 42,820. (Provisional) 

Eternal July 2026 futures traded at a discount of 0.55 points at 288.95 (LTP) compared with spot closing of 289.50. The numbers of contracts traded were 31,735. (Provisional)

Bandhan Bank July 2026 futures traded at a discount of 0.45 points at 173.65 (LTP) compared with spot closing of 174.10. The numbers of contracts traded were 29,756. (Provisional)

Bajaj Auto July 2026 futures traded at a premium of 11.00 points at 11030.00 (LTP) compared with spot closing of 11019.00. The numbers of contracts traded were 21,149. (Provisional)

Among, Nifty calls, 24000 SP from the July month expiry was the most active call with an addition of 1,41,016 units open interests. Among Nifty puts, 24000 SP from the July month expiry was the most active put with an addition of 81,922 units open interests. The maximum OI outstanding for Calls was at 24000 SP (2,13,561 units) and that for Puts was at 24000 SP (1,99,048 units). The respective Support and Resistance levels of Nifty are: Resistance 24121.23 -- Pivot Point 24041.32 -- Support 23916.33.

The Nifty Put Call Ratio (PCR) finally stood at (0.74) for July month contract. The top five scrips with highest PCR on Kalyan Jewellers India (1.31), Divi's Laboratories (1.18), Bajaj Auto (1.17), IndusInd Bank (1.08), and Persistent Systems (1.06).

Among most active underlying HDFC Bank witnessed an addition of 5,196 units of Open Interest in the July month future, Bandhan Bank witnessed an addition of 6,516 units of Open Interest in the July month future, Eternal witnessed an addition of 6,913 units of Open Interest in the July month future, Infosys witnessed a contraction of 4,708 units of Open Interest in the July month futures and Bajaj Auto witnessed an addition of 1,519 units of Open Interest in the July month futures. (Provisional)
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