Indian equity benchmark -- Nifty -- wrapped up Tuesday's trading day on a higher note led by buying in Reliance Industries and ICICI Bank stock. After making a positive start, soon index lost some of its earlier gains amid human metapneumovirus (HMPV) virus fear. However, index regained traction to trade higher in late morning session, as traders took encouragement with Prime Minister Narendra Modi’s statement after US National Security Advisor Jake Sullivan met him that the India-US comprehensive global strategic partnership has scaled new heights, including in areas of technology and defence. Investors took support with domestic rating agency ICRA’s report stated that securitization volumes jumped 80 per cent on-year to Rs 68,000 crore in the December quarter (Q3FY25), and has also upped its estimates on total volumes for this financial year (FY25).
In afternoon session, index continued to trade higher, as sentiments were positive amid a private report stating that the Centre is expected to release the next instalment of special assistance to states even if they have not met capital expenditure targets. In July 2024, the Centre increased the budgetary allocation under the programme to Rs 1.5 lakh crore, a significant rise from Rs 1.05 lakh crore in the previous fiscal. In the final leg of the trading session, index trimmed some of its gains and finally ended in positive territory.
Most of the sectorial indices ended in green except IT stocks. The top gainers from the F&O segment were Biocon, IndiaMART InterMESH and BSE. On the other hand, the top losers were Zomato, Info Edge (India) and PVR INOX. In the index option segment, maximum OI continues to be seen in the 23900 - 24100 calls and 22900 - 23100 puts indicating this is the trading range expectation.
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