Indian equity benchmark -- Nifty -- ended Wednesday’s trading session in a positive terrain, ahead of weekly F&O expiry. After making a positive start, soon index slipped into red terrain, as investors were cautious with provisional data from the National Stock Exchange (NSE) showing that foreign institutional investors (FIIs) sold shares worth Rs 495.17 crore on August 22. Some cautiousness also came as Economic Advisory Council to the Prime Minister (EAC-PM) Chairman Bibek Debroy said the government was losing revenue due to the GST, which should be revenue neutral with a single rate.
However, in late morning session, index cut all of its losses and traded on a higher note till the end of session, as investors took some support with a report stating that country's real GDP growth in the first quarter of current financial year (Q1FY24) will be better than the Reserve Bank's estimate of 8 per cent. It pegged the growth at 8.3 per cent. Traders took note of report that Prime Minister Narendra Modi said he had an excellent meeting with South African President Cyril Ramaphosa and discussed a range of issues aimed at deepening the bilateral ties and also working jointly to strengthen the voice of the Global South. Finally, index ended in positive terrain with gains of 47.55 points.
Traders were seen piling up positions in PSU Bank, Private Bank and Media stocks, while selling was witnessed in FMCG, Oil & Gas and Metal. The top gainers from the F&O segment were Sun Tv Network, Federal Bank and RBL Bank. On the other hand, the top losers were Adani Enterprises, Adani Ports and Special Economic Zone and Torrent Pharmaceuticals. In the index option segment, maximum OI continues to be seen in the 19400 - 19600 calls and 18900 - 19100 puts indicating this is the trading range expectation.
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