Indian equity benchmark -- Nifty – ended Friday’s trading session at fresh record closing high as traders went for value buying. Index made a slightly positive start and remained in green, as market participants took support with Reserve Bank of India Deputy Governor M Rajeshwar Rao’s statement that Indian financial system looks stronger than in the past and the country's economy is an outlier even as strong headwinds globally. Some support also came with DIPAM Secretary Tuhin Kanta Pandey's statement that the focus of the government will be to improve the performance of CPSEs with a view to maximise wealth creation and not to push disinvestment just to meet targets. He said the market capitalisation of 77 listed public sector entities, which include banks, insurance companies and Central Public Sector Enterprises (CPSEs), has jumped 4 times in the last three years to about Rs 73 lakh crore.
Index continued its northward journey in noon deal, as sentiments remained positive after the government eased certain norms for licence holders of the Export Promotion Capital Goods scheme as part of its ease of doing business efforts. The EPCG scheme facilitates import of capital goods for producing quality goods and services and enhances India's manufacturing competitiveness. It allows import of capital goods for pre-production, production and post-production at zero customs duty. In last leg of trade, Index extended its gains to surpassed 24800 mark.
All the sectorial indices ended in green. The top gainers from the F&O segment were Shriram Finance, Bharat Forge and Mphasis. On the other hand, the top losers Federal Bank, United Breweries and United Spirits. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 24400 - 24600 puts indicating this is the trading range expectation.
