Indian equity benchmark -- Nifty -- ended marginally lower on Tuesday as tariff jitters and delays in bilateral trade talks with US, kept investors on edge. Index made a flat-to-positive start but soon slipped below neutral lines amid continued concerns over US President Donald Trump's H-1B visa fee hike. Index extended losses and continued its trade in red terrain in late morning session. Foreign fund outflows dampened investors’ sentiments. FII offloaded equity worth Rs 2,910 crore on a net basis on September 22. Sentiments remained weak after the HSBC Flash India Composite Output Index, which measures the combined performance of India’s manufacturing and service sectors, fell to 61.9 in September from 63.2 in August. Market participants overlooked the Ministry of Commerce & Industry’s data that the output of eight key infrastructure sectors jumped to a 13-month high of 6.3 per cent in August 2025 on account of expansion in coal, steel, and cement production. However, in second half of the session, index recovered from initial losses and was wavering in red and green terrain. But, index unable to hold its head above neutral line and closed below 25,200 mark.
Traders were seen piling up positions in PSU Bank, Metal and Auto stocks, while selling was witnessed in FMCG, Realty and IT Bank. The top gainers from the F&O segment were Vodafone Idea, AU Small Finance Bank and PNB Housing Finance. On the other hand, the top losers were PNB Housing Finance, Sammaan Capital and Godrej Consumer Products. 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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