Indian equity benchmark -- Nifty -- ended Monday’s trading session in positive terrain following gains in Realty, Media and FMCG. Index made a slightly positive start, as investors took some support with the Reserve Bank of India (RBI) Governor Shaktikanta Das’ statement that the headline inflation coming down to 4.7 per cent during April is ‘very satisfying’. He added that the release of the official data gives confidence that the ‘monetary policy is on the right track’. Traders also took a note of Former Reserve Bank of India (RBI) governor Raghuram Rajan’s statement that India's growth path lies in leveraging its intrinsic strengths and becoming crucial to global supply chains by building on its historic culture of tolerance and respect for all.
In afternoon session, index extended its gains, as sentiments remained up-beat after the annual rate of inflation based on all India Wholesale Price Index (WPI) number is (-) 0.92% (Provisional) for the month of April 2023 against 1.34% recorded in March 2023. Decline in the rate of inflation in April, 2023 is primarily contributed by fall in prices of basic metals, food products, mineral oils, textiles, non-food articles, chemical & chemical products, rubber & plastic products and paper & paper products. Besides, Defence Minister Rajnath Singh said that the country is now becoming self-reliant and as per economic experts, India will achieve third rank in the world economy by 2027. However, in last leg of trade, index trimmed some of its gains but ended on a higher note.
All the sectorial indices ended in green. The top gainers from the F&O segment were DLF, Oberoi Realty and RBL Bank. On the other hand, the top losers were Adani Enterprises, ABB India and Cipla. In the index option segment, maximum OI continues to be seen in the 18400 -18600 calls and 17900 -18100 puts indicating this is the trading range expectation.
