After hitting all time high point in previous session, Indian equity benchmark -- Nifty -- ended Tuesday's trading session in a negative terrain with minor cut, as traders were cautious with an upcoming RBI policy meeting and the start of Q4 earnings season. After making a cautious start, index traded below its neutral line, amid foreign fund outflows. Provisional data from the NSE showed that foreign institutional investors (FIIs) net sold shares worth Rs 522.30 crore on April 1. In afternoon session, index extended its losses and traded near day’s low point, as traders remained cautious after a report by the United Nations Conference on Trade and Development (UNCTAD) showed that India’s dependence for trade on the European Union (EU) and China is rising as global trade has seen a restructuring along the geopolitical lines in the past two years. However, in last leg of trade, index trimmed most of its losses to end flat with minor losses.
Traders were seen piling up positions in Consumer Durables, Media, and Metal stocks, while selling was witnessed in IT, Pharma and Healthcare. The top gainers from the F&O segment were Aditya Birla Fashion and Retail, Aditya Birla Capital and Steel Authority of India. On the other hand, the top losers Vodafone Idea, Indus Towers and IndiaMART InterMESH. In the index option segment, maximum OI continues to be seen in the 22400 - 23600 calls and 21900 - 22100 puts indicating this is the trading range expectation.
