Indian equity benchmark -- Nifty -- ended Wednesday’s trading session in positive terrain ahead of weekly F&O expiry. Index made gap-down opening, following hotter-than-expected US inflation data, which fueled the selloff in Wall Street overnight. Traders took a note of report that aided by interest-free loans from the Centre, capital expenditure by states jumped by 40% on year in the first nine months of the current financial year compared with a 7% rise in the year-ago period. In late afternoon session, index cut all of its losses to end near day’s high point, as investors got support after inflation based on wholesale price index (WPI) eased in the month of January 2024 to 0.27% from a nine-month high of 0.73% in December 2023, amid lower prices of crude petroleum & natural gas, non-food articles and food articles. The Component wise, primary articles index, declined 1.04% to 181.0 (provisional) in January 2024 from 182.9 (provisional) for the month of December 2023, on account of fall in prices of crude petroleum & natural gas, non-food articles and food articles. Besides, Prime Minister Narendra Modi asserted that the country will emerge as the third largest economy in the world in coming years.
Most of the sectorial indices ended in green except IT, Healthcare and Pharma stocks. The top gainers from the F&O segment were National Aluminium Company, Hindustan Petroleum Corporation and Bharat Petroleum Corporation. On the other hand, the top losers were Glenmark Pharmaceuticals, Info Edge (India) and L&T Technology Services. In the index option segment, maximum OI continues to be seen in the 22900 - 23100 calls and 21400 - 21600 puts indicating this is the trading range expectation.
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