Indian equity benchmark index -- Nifty -- ended in red terrain, ahead of Fed's preferred inflation gauge and US president Donald Trump’s reciprocal tariff policy scheduled in next week. Index made slightly positive start as traders took note of foreign fund inflow. According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth Rs 11,111.25 crore on Thursday. Soon, market trimmed initial gains and turned red following negative cues from global market, amid Trump’s Tariff tension and its significant impact on global trade. Market traded volatile. Market participants took note of Commerce and industry Minister Piyush Goyal’s statement that the ongoing talks between India and US for the proposed trade agreement between the country are progressing well and will be for the good of both the nations while protecting India’s interest.
The volatility continued through the day, amid India Ratings and Research (Ind-Ra) stated that the Reserve Bank of India’s (RBI's) monetary policy committee (MPC) expected cut benchmark interest rate by 25 basis points in its policy review meeting next month to boost the economic growth. In last leg of the trade, index extended losses and closed below 23,550 mark.
Most of the sectorial indices ended in red except FMCG and Private Bank. The top gainers from the F&O segment were BSE, Indraprastha Gas, and Hindustan Zinc. On the other hand, the top losers were ICICI Prudential Life Insurance Company, AU Small Finance Bank and Tata Elxsi. In the index option segment, maximum OI continues to be seen in the 23400 - 23600 calls and 23400 - 23600 puts indicating this is the trading range expectation.
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