Indian equity benchmark -- Nifty -- ended Tuesday’s trading session in a positive terrain, led by gains in Oil & Gas, PSU Bank and FMCG stocks. Index made an optimistic start, as traders took some support with the Ministry of External Affairs (MEA) stating that the inaugural India-UK '2+2' foreign and defence dialogue on October 16 saw the two sides focusing on ways to boost cooperation in a range of key areas such as trade and investment, defence, critical technologies, civil aviation, health and energy. Besides, sentiments got a boost as a survey by industry body Ficci stated that India’s economic growth is expected at 6.3 per cent during 2023-24 on the back of good health of the financial sector and uptick in private investment even as downside risks remain.
Index continued to trade on a higher note in afternoon session, as traders paid no attention towards a private report stating that unemployment rates continue to remain high among people qualified with diploma or degree, though some progress has been made in the last five years. It said there is a notable gap between job opportunities and those seeking jobs, which might take time to narrow. However, in last leg of trade, index came off from day’s high but ended in a positive terrain.
Most of the sectorial indices ended in green except Consumer Durables stocks. The top gainers from the F&O segment were Can Fin Homes, L&T Finance Holdings and Apollo Tyres. On the other hand, the top losers were Mphasis, Dalmia Bharat and Gujarat Narmada Valley Fertilizers & Chemicals. In the index option segment, maximum OI continues to be seen in the 19700 - 19900 calls and 19400 - 19600 puts indicating this is the trading range expectation.
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