Indian equity benchmark -- Nifty -- ended higher on Monday amid strong Q1 earnings from index heavy weights in ongoing season. Index made a positive start followed by mostly positive cues from other Asian markets. Soon, index slipped below neutral line but managed to erased all initial losses and gained traction in green terrain buoyed by stronger than expected Q1 result led by banking stocks. Traders opted to buy fundamentally good stocks at lower levels after two-day of losses. Some optimism came from commerce ministry data which showed that the US, UAE, and China have emerged as the top three export destinations for India's electronics sector during April-June quarter of 2025-26. During April-June this fiscal, the exports rose by 47 per cent to $12.41 billion. Besides, Prime Minister Narendra Modi will visit to the United Kingdom and the Maldives from July 23-26 to shore up overall bilateral ties and formalise the landmark India-UK free trade deal that is set to pave the way for doubling two-way trade by 2030 from current $60 billion. In last leg of the trade, index intensified its gains and closed above 25,050 mark.
Traders were seen piling up positions in Private Bank, Metal and Auto stocks, while selling was witnessed in Oil & Gas, PSU Bank and FMCG. The top gainers from the F&O segment were Eternal, Persistent Systems, and UPL. On the other hand, the top losers were AU Small Finance Bank, Reliance Industries and Indian Energy Exchange. In the index option segment, maximum OI continues to be seen in the 25400 - 25600 calls and 24900 - 25100 puts indicating this is the trading range expectation.
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