Indian equity benchmark -- Nifty -- ended Monday’s trading session in deep red amid weak global cues and tariff uncertainties after President Donald Trump’s decision to impose tariffs and sanctions on Colombia for impeding his immigration goals. Index made a negative start, as traders were cautious after Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,758.49 crore on Friday, according to exchange data. Traders remained cautious as the RBI said India's forex reserves dropped by $1.88 billion to $623.983 billion in the week ended January 17. In afternoon session, index continued to witness heavy selling and remained lower till end of the day, as traders were worried ahead of Union Budget for the financial year 2025-26 and Fed meet. The street overlooked Employees' State Insurance Corporation’s (ESIC) latest provisional payroll data showing that 16.07 lakh new employees have been added in the month of November 2024, as against 15.92 lakh during November 2023, marginally higher by 0.942%.
All the sectorial indices ended in red. The top gainers from the F&O segment were Bank of India, Torrent Pharmaceuticals and Federal Bank. On the other hand, the top losers were Laurus Labs, CDSL and Piramal Enterprises. In the index option segment, maximum OI continues to be seen in the 23900 - 24100 calls and 21900 - 22100 puts indicating this is the trading range expectation.
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