Indian equity benchmark -- Nifty -- ended August F&O expiry day at fresh record high. After making negative start, soon index erased its losses to trade higher, as traders took support after government approved 12 new industrial cities in 10 states on the lines of Greater Noida in Uttar Pradesh and Dholera in Gujarat to boost domestic manufacturing with an estimated investment of Rs 28,602 crore. Traders took note of report that Prime Minister Narendra Modi said that the government will continue to build on the success of the Pradhan Mantri Jan Dhan Yojana (PMJDY) and initiate even more steps to build a Viksit Bharat.
In afternoon session, index extended its gains to trade near day’s high point, as sentiments were positive after the Department of Economic Affairs (DEA), Ministry of Finance, has amended the Securities Contracts Regulation Rules (SCRR), 1956 to ease the listing requirements for Indian companies seeking to list on international exchanges within IFSCs at par with global standards. In last hours of trade, index slipped into red, but soon recouped from losses to end in green with gains of 99.60 points.
Traders were seen piling up positions in Oil & Gas, FMCG and Auto stocks, while selling was witnessed in Pharma, Metal and Metal. The top gainers from the F&O segment were L&T Technology Services, Tata Motors and Power Finance Corporation. On the other hand, the top losers Max Financial Services, Ashok Leyland and IPCA Laboratories. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 24900 - 25100 puts indicating this is the trading range expectation.
