Indian equity benchmark -- Nifty -- ended Tuesday’s trading session in a positive terrain supported by gains in Metal, Realty and Media stocks. Index made a decent start, as traders welcomed China's announcement of a slew of measures over the weekend to bolster the country's equity market as well as fuel an increase in spending and drive economic growth. Sentiments got some boost as India Ratings said with falling trade deficit, India's current account deficit is likely to narrow to around $10 billion or 1 per cent of GDP in the April-June quarter of the ongoing fiscal. The country's current account deficit (CAD) stood at $18 billion or 2.1 per cent in the corresponding period of the previous fiscal.
In afternoon session, index continued to trade in positive terrain, as market participants took some support with Union Minister for Labour and Employment Bhupender Yadav’s statement that more than 1.5 crore jobs have been created in nine organised sectors, including IT, manufacturing, trade and transport, during the nine-year rule of Narendra Modi government at the Centre. However, in last leg of trade, investors were cautious with a private report stating that India is poised for its lowest monsoon rains in eight years, with the El Nino weather pattern seen crimping September precipitation after an August that is on track to be the driest in over a century. But, index managed to end on a higher note.
Traders were seen piling up positions in Metal, Realty and Media stocks, while selling was witnessed in PSU Bank, FMCG and Pharma. The top gainers from the F&O segment were Deepak Nitrite, Aarti Industries and Bharat Heavy Electricals. On the other hand, the top losers were Piramal Enterprises, HDFC Asset Management Company and Indiabulls Housing Finance. In the index option segment, maximum OI continues to be seen in the 19400 - 19600 calls and 19200 - 19400 puts indicating this is the trading range expectation.
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