Indian equity benchmark -- Nifty -- extended its losses on Thursday, as Trump hinted that if Russia reject the cease fire proposal with Ukraine, they may face financial repercussions which could impacted global trade sentiments. Index started the session in green amid positive macroeconomic data, which shown India’s retail inflation eased to a seven-month low at 3.61% in February, down from 4.26% in January. Also, India’s industrial output, Index Industrial Production (IIP) grew by 5.0% in January as compared to 3.5% in December 2024. However, market failed to hold initial gains and hovering around neutral line, as market participants remained cautious about global trade policy uncertainties. Investors remained worried as credit rating agency ICRA said that Indian IT companies expected to see moderate revenue growth of 4-6% in FY26, with hiring likely to remain subdued until growth accelerates towards the end of the fiscal year. In last leg of the trade, index incurred further losses and closed below 22,400 mark.
Most of the sectorial indices ended in red except PSU Bank and Bank stocks. The top gainers from the F&O segment were Avenue Supermarts, Solar Industries India, and Computer Age Management Services. On the other hand, the top losers were PB Fintech, Bharat Forge and Crompton Greaves Consumer Electricals. In the index option segment, maximum OI continues to be seen in the 30900 - 31100 calls and 21900 - 22100 puts indicating this is the trading range expectation.
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