Indian equity benchmark -- Nifty -- ended lower amid escalating Middle East tensions. Index made gap-down start followed by broadly negative cues from other Asian markets. Soon, index intensify its losses amid escalating Israel-Iran conflict after U.S. carried out a successful airstrike on three nuclear sites in Iran over the weekend. However, market off days low as traders took some support from CRISIL’s latest report stated that the ongoing conflict in the Middle East so far did not have any significant impact on global trade of Indian corporates. In afternoon session, index trimmed most of their losses but continued their trade in red till end of the session. Traders took note of oil minister Hardeep Singh Puri’s statement that he assured the country has enough energy supplies to meet for several weeks and continues to receive supplies from several routes. Finally, index closed below 25,000 mark.
Traders were seen piling up positions in Media, Consumer Durables and Metal stocks, while selling was witnessed in IT, Auto and FMCG. The top gainers from the F&O segment were Poonawalla Fincorp, KEI Industries, and Polycab India. On the other hand, the top losers were Siemens, Astral and United Spirits. 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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