Indian equity benchmark -- Nifty -- ended Monday's trading session near day’s high point ahead of Donald Trump’s inauguration. After making a cautious start, soon index traded in green and began its northward journey, as traders took some support with the commerce and Industry Minister Piyush Goyal’s statement that India would work with the European Union to develop cutting-edge technologies and secure critical raw material supply chains to strengthen economic ties. Meanwhile, Commerce Secretary Sunil Barthwal has said the government's target of $1 trillion export includes $250 billion from the engineering sector.
In afternoon session, index extended its gains to trade near day’s high point and remained higher till end of the day supported by heavy buying in Banking stocks. Sentiments were upbeat, as a CII survey showed that India's current economic environment is conducive for private investments with the country emerging as a 'bright spot' amid the challenging global environment. The pan-India survey is an ongoing initiative, which would be completed for 500 firms by the first week of February. The interim results are based on a sample of 300 firms spread across all industry sizes (Large, Medium and Small).
Most of the sectorial indices ended in green except Auto and FMCG stocks. The top gainers from the F&O segment were Vodafone Idea, Kotak Mahindra Bank and Wipro. On the other hand, the top losers were Zomato, Supreme Industries and Voltas. 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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