Indian equity benchmark -- Nifty -- ended marginally higher on Wednesday ahead of the US Federal Reserve's monetary policy decision. Index made a positive start despite mixed cues from other Asian markets. Soon, index trimmed some of its gains and turned volatile. Market participants avoided risky bids ahead of US-India trade deal. Some cautiousness came with continued foreign fund outflows. Foreign Institutional Investors (FIIs) sold equities worth Rs 4,636.60 crore on Tuesday, as per exchange data. In late morning session, index traded higher with positive bias. Traders took note of Crisil’s research report stating that revenue growth of 18 large States in India, which account for over 90 per cent of the gross state domestic product, is likely to witness a marginal uptick at 7-9 per cent to Rs 40 lakh crore this financial year (FY26). It stated that this is slightly higher than 6.6 per cent notched up in the last fiscal. In afternoon session, index continued its trade in green with marginal gains till the end of the session. Finally, index closed above 25,850 mark.
Traders were seen piling up positions in Media, Auto and PSU stocks, while selling was witnessed in IT, FMCG and Consumer Durables. The top gainers from the F&O segment were Avenue Supermarts, Larsen & Toubro, and APL Apollo Tubes. On the other hand, the top losers were Samvardhana Motherson International, Tata Motors and Bandhan Bank. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 calls and 24700 - 24900 puts indicating this is the trading range expectation.
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