Indian equity benchmark -- Nifty -- ended lower on Friday amid US tariff uncertainty and concerns over US economic stability. Index made a flat-to-negative start followed by broadly weak cues from other Asian Markets after an appeals court temporarily paused the lower court's ruling to block US President Donald Trump's reciprocal tariffs on imports from U.S. trade partners. Soon, index magnified its losses and continued to trade in red terrain. Traders remained cautious ahead of the release of India’s GDP data. However, losses remined capped as market participants took note of NITI Aayog Vice-Chairman Suman Bery’s statement that the size of the Indian economy in the purchasing power parity (PPP) term is already $15 trillion, which is more than half the size of the US economy. Index continued its choppy trade till the end of the session and closed near 24,750 mark.
Most of the sectorial indices ended in red except PSU Banks and Media stocks. The top gainers from the F&O segment were BSE, Muthoot Finance and NBCC (India). On the other hand, the top losers were Mazagon Dock Shipbuilders, Chambal Fertilizers & Chemicals and SJVN. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 puts indicating this is the trading range expectation.
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