Indian equity benchmark -- Nifty -- ended sharply lower on Friday amid continued concerns over US President Donald Trump’s steep 50 percent tariff imposition on Indian exports. Index made a negative start after US President Donald Trump indicated that no further trade negotiations with India would take place unless the tariff matter resolved. Soon, index extended its losses and continued to trade in red terrain. Some cautiousness came with continued foreign fund outflows. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,997.19 crore on Thursday, according to exchange data. In afternoon session, index continued its choppy trade near day’s low point for most part of the session. In last leg of the trade, index extended its losses and closed below 24,400 mark.
All sectorial indices ended in red. The top gainers from the F&O segment were Indian Energy Exchange, Cummins India and Bharat Petroleum Corporation. On the other hand, the top losers were Nestle India, PG Electroplast and Kalyan Jewellers India. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 calls and 23900 - 24100 puts indicating this is the trading range expectation.
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