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Nifty ends with minor losses on Thursday

14 Nov 2024 Evaluate

Indian equity benchmark -- Nifty -- ended with minor losses on Thursday amid weekly F&O expiry. Index made a cautious start but soon added gains as traders got support after S&P Global Ratings has said supply capacity in India is continuing to expand pretty quickly which will help contain inflationary pressure. S&P Senior Economist Asia Pacific Vishrut Rana has said the central bank's monetary policy and inflation target remains credible and the Reserve Bank of India (RBI) should be able to anchor inflationary expectations. However, in late morning session, market turned negative as FIIs outflow dented investors’ sentiments. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,502.58 crore on Wednesday, according to exchange data. In afternoon session, market remained lower after Inflation based on wholesale price index (WPI) in India jumped in the month of October 2024 to 2.36% from 1.84% in September 2024, due to increase in prices of food articles, crude petroleum & natural gas and electricity. Finally, Nifty ended below 23550 mark.

Most of the sectorial indices ended in green except FMCG, Metal and Pharma. The top gainers from the F&O segment were Eicher Motors, Deepak Nitrite and Apollo Tyres. On the other hand, the top losers Indraprastha Gas, Crompton Greaves Consumer Electricls and PI Industries. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 22900 - 23100 puts indicating this is the trading range expectation.

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