Indian equity benchmark -- Nifty -- ended Friday’s trading session in a positive terrain despite India’s WPI inflation accelerated. After making a cautious start, soon index traded on higher note, as traders got some support with Economic think tank Global Trade Research Initiative (GTRI) stating that implementation of key strategic reforms such as simplification of customs duty structure, Goods and Services Tax (GST), and not incentivising low value-added electric vehicles would help India ensure its sustainable development and inclusive growth. It also said that India is standing on the cusp of a transformative era and there is an urgent need for comprehensive economic reforms. Index continued to trade higher till the end of the trading session, as traders got some encouragement after Moody's Ratings stating that fuelled by domestic demand growth, India is expected to remain the region's fastest-growing economy in the Asia-Pacific region in the second half of the year 2024. It also noted that India, Indonesia, and the Philippines were the key growth outperformers in the first half of the year 2024.
Most of the sectorial indices ended in green except IT and Media stocks. The top gainers from the F&O segment were ABB India, Siemens and Bharat Forge. On the other hand, the top losers Balrampur Chini Mills, Mphasis and Chambal Fertilisers and Chemicals. In the index option segment, maximum OI continues to be seen in the 22900 - 24100 calls and 22900 - 23100 puts indicating this is the trading range expectation.
