Indian equity benchmark -- Nifty -- ended Tuesday’s trading session on a higher note, ahead of February F&O expiry. After making a negative start, index altered between red and green in morning deals, amid foreign fund outflows. Foreign institutional investors (FIIs) offloaded equities worth Rs 285.15 crore on Monday. Some cautiousness also came as India expressed serious concerns in a WTO meeting in Abu Dhabi over increase in the use of trade protectionist measures by certain countries in the name of environment protection. The remarks assume significance as the country has earlier flagged issues over the European Union's (EU) decision to impose carbon tax (a kind of import tax) on sectors such as steel and fertiliser; and adoption of deforestation regulation by the 27-nation bloc. However, index managed to trade on a higher note in afternoon session, as traders got encouragement after the Union Finance Minister Nirmala Sitharaman noted the rapid growth of the Start-up and Fintech sector of India, especially in the last decade, and welcomed suggestions from the FinTech leaders to achieve greater Ease of Doing Business and Ease of Living for consumers. Finally, index ended with gains of 76.30 points.
Traders were seen piling up positions in Realty, Consumer Durables and IT stocks, while selling was witnessed in Oil & Gas, Media and PSU Bank. The top gainers from the F&O segment were ICICI Lombard General Insurance Company, Havells India and ABB India. On the other hand, the top losers Vodafone Idea, Shriram Finance and NMDC. 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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