Indian equity benchmark -- Nifty – witnessed heavy selling pressure on Thursday, snapping three-day winning streak amid concerns that the U.S. may take military action against Iran and broad-based selling across sectors. After making a slightly positive start, soon index turned negative, as traders opted to profit booking at higher level. Traders overlooked foreign institutional investors (FIIs), who were net buyers of shares worth Rs 1,154.34 crore on Wednesday. Selling pressure intensified in the afternoon session, dragging the index sharply lower, as traders were cautious with Crisil’s report stated that the Consumer Price Index (CPI) inflation or retail inflation is likely to rise to around 4.3% in fiscal year 2026-27 (FY27) from an estimated 2.5% for FY26. Finally, market ended with significant losses, declining by around 1.4%.
All the sectorial indices ended in red. The top gainers from the F&O segment were Oil India, Oil & Natural Gas Corporation and RBL Bank. On the other hand, the top losers were Hindustan Petroleum Corporation, Kaynes Technology India and One 97 Communications. 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.
