Indian equity benchmark -- Nifty -- ended Thursday's trading session on higher note ahead of weekly F&O expiry. Despite making a slightly negative opening, soon index cut all its losses to trade higher, as traders took note of a State Bank of India's (SBI) report stating that during the first nine months of the current financial year, Indian companies announced investments of over Rs 32 trillion, a 39 per cent increase compared to Rs 23 trillion in the same period of the previous financial year, with private sector contributions rising to 70 per cent. In afternoon session, index continued to trade above its neutral line and remained higher till end of the day, as traders took some support with private report stating that the United States and India Business Council (USIBC) has urged the new Trump administration to collaborate with India on artificial intelligence (AI) research and development, quantum computing and other deep tech fields. Such a digital trade agreement will foster data flows and reduce tariffs.
Traders were seen piling up positions in IT, Media and Pharma stocks, while selling was witnessed in Oil & Gas, Private Bank and Bank. The top gainers from the F&O segment were Coforge, Persistent Systems and KEI Industries. On the other hand, the top losers were AU Small Finance Bank, Jio Financial Services and Housing and Urban Development Corporation. 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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