Indian equity benchmark -- Nifty -- continued its downward trend for eighth straight day even after positive wholesale price index (WPI) data. Market made a cautious start and turned volatile amid foreign fund outflows. The Foreign institutional investors (FIIs) extended their selling on seventh day as they sold equities worth Rs 2,789.91 crore on February 13. In late morning session, index extended its losses and remained lower. Traders overlooked report stating that inflation based on wholesale price index (WPI) in India slowed down in the month of January to 2.31% as against 2.37% recorded in December 2024, aided with easing prices of food articles. In late afternoon session, market trimmed some of its losses and ended below its 23,000 level. Sentiments remained downbeat after President Trump restated his stance on imposing reciprocal tariffs on trade partners, including India.
All sectorial indices ended in red. The top gainers from the F&O segment were Jubilant Foodworks, Britannia Industries, and ICICI Bank. On the other hand, the top losers were Deepak Nitrite, Laurus Labs and Kalyan Jewellers India. In the index option segment, maximum OI continues to be seen in the 23400 - 23600 calls and 22900 - 23100 puts indicating this is the trading range expectation.
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