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Additional tariff threats drag Nifty to end below 25,900 level
Jan-08-2026

Extending losing streak for fourth straight session, Indian equity benchmark -- Nifty -- ended lower on Thursday. Index made negative start and extended its losses amid reports stating that US President approved a bill that threatens to raise tariffs on countries buying energy products from Russia to at least 500 per cent. Meanwhile, persistent foreign institutional investors (FIIs) outflow dampened investors sentiments. As per exchange, FIIs sold equities worth Rs 1,527.71 crore on Wednesday. In afternoon session, market intensified its losses and continued its southward journey till the end of the session. Market participants overlooked External Affairs Minister S Jaishankar’s statement that India is strengthening its relationship with Europe and both sides can bring greater stability to the international economy and global politics. Finally, Nifty ended below 25,900 mark.

All sectorial indices ended in red. The top gainers from the F&O segment were Dixon Technologies (India), IDFC First Bank and Solar Industries India. On the other hand, the top losers were Bharat Heavy Electricals, Hindustan Zinc and Hitachi Energy India. In the index option segment, maximum OI continues to be seen in the range of 25900 - 26100 calls and 25900 - 26100 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 6.53% and reached 10.60. The 50 share Nifty down by 263.90 point or 1.01% to settle at 25,876.85.

Nifty January 2026 futures closed at 25965.00 (LTP) on Thursday, at a premium of 88.15 points over spot closing of 25876.85, while Nifty February 2026 futures ended at 26110.00 (LTP), at a premium of 233.15 points over spot closing. Nifty January futures saw an addition of 36,759 units, taking the total open interest (Contracts) to 2,53,284 units. The near month derivatives contract will expire on January 27, 2026. (Provisional) 

From the most active contracts, HDFC Bank January 2026 futures traded at a premium of 2.65 points at 950.65 (LTP) compared with spot closing of 948.00. The numbers of contracts traded were 44,085. (Provisional)

Tata Consultancy Services January 2026 futures traded at a discount of 22.00 points at 3174.00 (LTP) compared with spot closing of 3196.00. The numbers of contracts traded were 42,819. (Provisional)

ICICI Bank January 2026 futures traded at a premium of 3.10 points at 1438.00 (LTP) compared with spot closing of 1434.90. The numbers of contracts traded were 38,612. (Provisional)

Bharat Heavy Electricals January 2026 futures traded at a premium of 0.95 points at 277.85 (LTP) compared with spot closing of 276.90. The numbers of contracts traded were 31,811. (Provisional)

Reliance Industries January 2026 futures traded at a premium of 5.20 points at 1475.90 (LTP) compared with spot closing of 1470.70. The numbers of contracts traded were 29,533. (Provisional)

Among, Nifty calls, 26500 SP from the January month expiry was the most active call with an addition of 10,288 units open interests. Among Nifty puts, 26000 SP from the January month expiry was the most active put with an addition of 5,321 units open interests. The maximum OI outstanding for Calls was at 26000 SP (94,703 units) and that for Puts was at 26000 SP (96,139 units). The respective Support and Resistance levels of Nifty are: Resistance 26053.88 -- Pivot Point 25956.17 -- Support 25779.13.

The Nifty Put Call Ratio (PCR) finally stood at (0.98) for January month contract. The top five scrips with highest PCR on Petronet LNG (1.37), Grasim Industries (1.15), Eicher Motors (1.12), LIC Housing Finance (1.12) and JSW Energy (0.96).

Among most active underlying ICICI Bank witnessed an addition of 7,845 units of Open Interest in the January month future, Reliance Industries witnessed an addition of 4,738 units of Open Interest in the January month future, Bharat Heavy Electricals witnessed an addition of 366 units of Open Interest in the January month futures, Tata Consultancy Services witnessed an addition of 9,886 units of Open Interest in the January month futures and HDFC Bank witnessed an addition of 4,082 units of Open Interest in the January month futures. (Provisional).
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