
The Nifty July 2026 futures closed at 24,450, trading at a premium of 84 points compared to the cash market's closing price of 24,366. This represents an increase from the previous premium of 71.45 points, indicating strengthened positive sentiment in the futures market despite the underlying index's decline. The August 2026 F&O contracts are scheduled to expire on 25 August 2026. Open interest in the contract rose 4% from Tuesday to around 12.61 million, according to provisional data, suggesting increased participation in futures trading.
In the cash market, the Nifty 50 index declined by 29.85 points or 0.12% to close at 24,366. This represents a slight increase in the decline from the previous session's 40.10 points drop, indicating continued market pressure. The GIFT Nifty August futures contract was largely flat at 24,559, indicating a rangebound movement for indices as GIFT Nifty levels were over 87 points higher than the Nifty 50's previous close of 24,471.70.
The NSE's India VIX, which measures market expectations of near-term volatility, fell 0.85% to 11.32. This decline in volatility expectations indicates that market participants are becoming less concerned about short-term price swings, potentially supporting the premium trading in futures contracts. However, investor nervousness rose as the volatility index was up nearly 1% at 11.9350 points during recent market sessions, reflecting ongoing market uncertainty.
In the F&O segment of the NSE, Bharat Dynamics (BDL), Tata Motors Passenger Vehicles (PV), and Bharti Airtel emerged as the top-traded individual stock futures contracts. These three companies were the most actively traded in the derivatives market, reflecting significant investor interest in these specific stocks. TCS became the key drag on the Nifty 50 index, down nearly 5%, while Godrej Consumer Products was the worst hit in both the Nifty 200 and Nifty 500 indices, down nearly 10%.
According to Sunny Agrawal, fundamental research head at SBI Securities, markets are expected to remain volatile in the near term, with geopolitical developments, crude prices and earnings outcomes continuing to drive investor sentiment. Key earnings announcements include Grasim Industries and Apollo Hospitals Enterprise reporting June quarter results later in the day. For Grasim Industries, brokerages expect net profit ranging from ₹700 million to ₹1.30 billion, with revenue projected between ₹118.16 billion and ₹129.12 billion. The company's performance will be impacted by higher realisations in viscose staple fibre and chemicals businesses, while continued losses in paints and business-to-business segments are likely to weigh on the bottom line.