Indian equity benchmark -- Nifty -- ended higher on Wednesday ahead of Fed policy outcome. Index made a positive start following firm cues from global markets. Sentiments were upbeat with potential India-US trade deal. Further, index extended its gains and remained in green amid strong inflows from foreign investors. Foreign institutional investors (FIIs) were net buyers of equity worth Rs 10,339.80 crore on Tuesday, as per exchange data. Further, some optimism came as India's industrial production growth remained steady at 4 per cent in September this year due to the good performance of the manufacturing sector buoyed by GST rationalisation and festive demand.
In afternoon session, market continued its trade in green territory. Traders took note of a report that the negotiating teams of India and the European Union making good progress on tariff-related issues and an EU delegation will visit India next week to further iron out differences for an early conclusion of the proposed free trade agreement (FTA). Finally, index closed above 26,050 mark.
Most of the sectorial indices ended in green except Auto stocks. The top gainers from the F&O segment were Adani Green Energy, Varun Beverages and Steel Authority of India. On the other hand, the top losers were HDFC Asset Management Company, Kfin Technologies and 360 ONE WAM. In the index option segment, maximum OI continues to be seen in the 26900 - 27100 calls and 24900 - 25100 puts indicating this is the trading range expectation.
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