Indian equity benchmark index -- Nifty -- closed flat with positive bias on Tuesday, as investors were worried about report that US President Donald Trump said he will in the very near future announce tariffs on automobiles, aluminum and Pharmaceuticals. Index made an optimistic start and remained in green terrain as market participants took support of data released by the NSE showing that the Foreign Institutional Investors (FIIs) bought equities worth Rs 3,055.76 crore on Monday. Some support also came as an IMF report stated that the Indian financial system has become more resilient and diverse, driven by rapid economic growth and withstood the pandemic well. However, market trimmed most of their gains in afternoon session. In last leg of trade, market managed to closed in green ahead of monthly F&O expiry. Investors also took note of report that commerce ministry has said that Indian and US officials will hold discussions this week to expand and deepen bilateral trade ties in a mutually beneficial manner and enhance supply chain integration.
Most of the sectorial indices ended in red except IT and Private Bank stocks. The top gainers from the F&O segment were UltraTech Cement, Persistent Systems, and Trent. On the other hand, the top losers were Dixon Technologies (India), Zomato and IndusInd Bank. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 calls and 22900 - 23100 puts indicating this is the trading range expectation.
