Nifty extended its optimistic trade for the second consecutive session and settled above 23,300 mark on Wednesday amid potential de-escalation in geopolitical tension. Index made a gap-up start and maintained its gains throughout the session as Brent crude oil prices cooled off to trade below $100 per barrel mark, after the US president Donald Trump's administration reportedly offered a 15-point ceasefire plan to Iran. Further, traders took some encouragement with a report stating that India's exports supported under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme estimated to have grown at over 20 per cent CAGR between 2023-24 and 2025-26, despite global headwinds such as weak demand, freight volatility, rising protectionism and geopolitical uncertainties. Sentiments were also optimistic as S&P Global Ratings raised India's GDP growth forecast for the next fiscal to 7.1 per cent, with private consumption, investment and exports being key drivers, but said that the conflict in the Middle East could strain the fiscal position due to higher energy prices arising from the conflict.

All sectorial indices ended in green. The top gainers from the F&O segment were Shriram Finance, Sammaan Capital and Kaynes Technology India. On the other hand, the top losers were Tech Mahindra, Power Grid Corporation of India and United Spirits. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 calls and 19000 - 20000 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 0.40% and reached 24.64. The 50 share Nifty up by 394.05 point or 1.72% to settle at 23,306.45.

Nifty March 2026 futures closed at 23310.10 (LTP) on Wednesday, at a premium of 3.65 points over spot closing of 23306.45, while Nifty April 2026 futures ended at 23445.00 (LTP), at a premium of 138.55 points over spot closing. Nifty March futures saw an addition of 7,101 units, taking the total open interest (Contracts) to 2,45,776 units. The near month derivatives contract will expire on March 30, 2026. (Provisional)

From the most active contracts, HDFC Bank March 2026 futures traded at a premium of 0.40 points at 780.50 (LTP) compared with spot closing of 780.10. The numbers of contracts traded were 213,989. (Provisional)

Tata Consultancy Services March 2026 futures traded at a premium of 9.50 points at 2387.40 (LTP) compared with spot closing of 2377.90. The numbers of contracts traded were 64,023. (Provisional)

Infosys March 2026 futures traded at a discount of 3.30 points at 1275.30 (LTP) compared with spot closing of 1278.60. The numbers of contracts traded were 61,116. (Provisional)

Reliance Industries March 2026 futures traded at a premium of 0.40 points at 1414.20 (LTP) compared with spot closing of 1413.80. The numbers of contracts traded were 59,074. (Provisional)

ICICI Bank March 2026 futures traded at a premium of 0.30 points at 1258.70 (LTP) compared with spot closing of 1258.40. The numbers of contracts traded were 49,301. (Provisional)

Among, Nifty calls, 23500 SP from the March month expiry was the most active call with a contraction of 7,358 units open interests. Among Nifty puts, 23300 SP from the March month expiry was the most active put with an addition of 36,075 units open interests. The maximum OI outstanding for Calls was at 25000 SP (1,26,452 units) and that for Puts was at 20000 SP (2,31,848 units). The respective Support and Resistance levels of Nifty are: Resistance 23493.47 -- Pivot Point 23278.33 -- Support 23091.32.

The Nifty Put Call Ratio (PCR) finally stood at (1.25) for March month contract. The top five scrips with highest PCR on Premier Energies (0.99), RBL Bank (0.98), GAIL (India) (0.96), Apollo Hospitals Enterprise (0.96), and Jindal Steel (0.95).

Among most active underlying HDFC Bank witnessed an addition of 62,317 units of Open Interest in the March month futures, Reliance Industries witnessed an addition of 12,905 units of Open Interest in the March month future, ICICI Bank witnessed an addition of 7,100 units of Open Interest in the March month future, Bharti Airtel witnessed an addition of 9,176 units of Open Interest in the March month futures and State Bank of India witnessed an addition of 1,976 units of Open Interest in the March month futures. (Provisional).