In volatile trading session, Indian equity benchmark -- Nifty -- concluded the Wednesday’s trade marginally lower ahead of the Federal Open Market Committee (FOMC) minutes for the January policy meeting, which will be released tonight. Market made a negative start, tracking mixed cues from Asian counterparts. However soon, index managed to recoup from losses and entered into green as some support came as the National Sample Survey Office (NSSO) stated that the unemployment rate for people aged 15 years and above in urban areas dipped to 6.4 per cent in the October-December quarter. Sentiments remained positive as the commerce ministry’s data showed the bilateral trade between India and the UAE grew 21.35 per cent to $80.51 billion during the April-January period this fiscal year. While India's exports to the UAE rose 6.82 per cent to $30 billion during the first 10 months of this fiscal year, imports during this period rose 35.58 per cent to $50.51 billion. But, market failed to protect its gains and turned volatile in the second half, as traders preferred to sell its riskier stocks.
Traders were seen piling up positions in Realty, Media and PSU Bank, while selling was witnessed in IT, Pharma and FMCG. The top gainers from the F&O segment were BSE, Manappuram Finance, and RBL Bank. On the other hand, the top losers were LTIMindtree, Adani Green Energy and The Phoenix Mills. In the index option segment, maximum OI continues to be seen in the 26400 - 26600 calls and 22900 - 23100 puts indicating this is the trading range expectation.
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