Extending its previous session’s losses, Indian equity benchmark -- Nifty – ended lower on Tuesday ahead of US Fed’s monetary policy decision. Index made a gap-down start following broadly negative cues from other Asian markets. Soon, market extended its losses and continued to trade in red terrain. Market participants avoided risky bids amid weekly F&O expiry. Sentiments were pessimistic as reports stated that the US President Donald Trump indicated an additional 25 per cent tariff on Indian rice export to the United States. Further, persistent foreign fund outflow weighted on investors sentiments. As per exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 655.59 crore on Monday. However, in second half session, market witnessed some recovery but continued its trade in red. Finally, Nifty ended below 25,850 mark.
Traders were seen piling up positions in PSU Bank, Consumer Durables and Chemicals stocks, while selling was witnessed in IT, Auto and Pharma. The top gainers from the F&O segment were Kaynes Technology India, PG Electroplast and Vodafone Idea. On the other hand, the top losers were Asian Paints, Coforge and BSE. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 25900 - 26100 puts indicating this is the trading range expectation.
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