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Nifty turns positive after three-day fall

19 Jan 2024 Evaluate

After falling for three consecutive days, Indian equity benchmark -- Nifty -- finished Friday’s trading session on a higher note, amid largely positive signals from global markets as robust US labour market data offered the latest evidence of strength in the world's largest economy. Index made a gap-up opening, as traders took encouragement with Reserve Bank of India Governor Shaktikanta Das’ statement that showing global growth is reason for concern, a cause of worry but India is better placed to deal with various geopolitical challenges. Some support also came in with a private report that Covid-19 cases are seeing a downward trend in India, with active cases falling to their lowest since December 21, 2023.

Index remained higher in noon deals and traded in positive till the end, as sentiments were optimistic with report that the cooperation between India and Singapore in the field of green finance has a promising future, NITI Aayog Vice Chairman Suman Bery has said, asserting that the two countries can work within the framework laid out in the G20 New Delhi Leaders' Declaration on sustainable finance. Meanwhile, the commerce ministry said that it will launch an online platform in the next 2-3 months to provide all relevant information, including details about custom duties, for aspiring exporters.

Most of the sectorial indices ended in green except Media, Private Bank and Bank stocks. The top gainers from the F&O segment were Aarti Industries, REC and Indian Railway Catering and Tourism Corporation. On the other hand, the top losers were Zee Entertainment Enterprises, RBL Bank and Indusind Bank. In the index option segment, maximum OI continues to be seen in the 21900 - 22100 calls and 21400 - 21600 puts indicating this is the trading range expectation.

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