Indian equity benchmark -- Nifty -- ended lower on Thursday. After making slight negative start index gained some traction to trade in green for little time. Traders took some support with Commerce and Industry Minister Piyush Goyal’s statement that India and the U.S. holding continuous discussions for the proposed bilateral trade agreement. In a while, index wiped out all initial gains and continued its choppy trades in red terrain. Persistent foreign fund outflow weighted on investors sentiment. As per exchange data, foreign institutional investors (FII) sold equities worth Rs 1,067.01 crore on Tuesday. Further, sentiments were weak as the seasonally adjusted HSBC India Services PMI Business Activity Index slowed down to 58.9 in October from 60.9 in September. In afternoon session, market witnessed some recovery from losses. However, in last leg of the trade, market erased all recovery and extended its losses till the end of the session.
Most of the sectorial indices ended in red except IT and Auto stocks. The top gainers from the F&O segment were Astral, Asian Paints and One 97 Communications. On the other hand, the top losers were Delhivery, Blue Star and Grasim Industries. 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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