Indian equity benchmark -- Nifty -- snapped eight-day winning streak and ended marginally lower on Monday ahead of US fed reserve meet starting from September 16. Index made a slightly positive start following broadly positive cues from other Asian markets. Soon, index turned volatile and started trading in red terrain. Traders remained worried as think tank Global Trade Research Initiative (GTRI) cautioned about India’s reliance on US software, cloud services, and social media platforms and stated that this poses a major economic and security vulnerability in times of geopolitical tensions. However, downside remained a capped as some support came amid Crisil’s report that the headline inflation during 2025-26 projected to be 3.2 per cent, lower than its earlier estimate of 3.5 per cent. It stated that the moderation implies a decline of 140 basis points in CPI inflation during this financial year, which is likely to give space for monetary easing. In late afternoon session, index added some losses and closed below 25,100 mark as market participants avoided risky bid amid tariff related developments.
Traders were seen piling up positions in Realty, PSU Bank and Oil & Gas stocks, while selling was witnessed in Pharma, IT and Media. The top gainers from the F&O segment were Vodafone Idea, SBI Cards and Payment Services and Tube Investments of India. On the other hand, the top losers were Glenmark Pharmaceuticals, Bandhan Bank and Cipla. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 24900 - 25100 puts indicating this is the trading range expectation.
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