After scaling its fresh all-time high level, Indian equity benchmark --Nifty-- ended marginally lower amid mixed global market trends. Market opened at record high level as foreign fund inflows boosted invertors sentiments. Provisional data from the National Stock Exchange (NSE) showed that foreign institutional investors (FII) purchased shares worth Rs 1,473.09 crore on September 11. However, soon index trimmed its gains and turned volatile, as traders were worried amid a private report stating that foreign institutional investors have sold around $800 million in local equities in the past four sessions even as the benchmark Nifty 50 index hit a record 20,000 mark for the first time. Market continued its flat trade in afternoon session, as traders overlooked Commerce and Industry Minister Piyush Goyal’s statement that the country and Saudi Arabia can look at doubling bilateral trade to $100 billion in the coming years from about $52 billion at present. He said the two countries can also look at a more balanced trade.
Most of the sectorial indices ended in red except IT and Pharma stock. The top gainers from the F&O segment were TCS, Larsen and Toubro and Infosys. On the other hand, the top losers were Indiabulls Housing Finance, BHEL and Power Grid Corporation. In the index option segment, maximum OI continues to be seen in the 20400 - 20600 calls and 19400 - 19600 puts indicating this is the trading range expectation.
