Extending gaining streak for third consecutive session, Indian equity benchmark -- Nifty settled with strong gains of over half a percent on Monday amid US Supreme Court’s verdict against US president Donald Trump’s reciprocal tariffs. The day began on a positive note, as traders took encouragement with report that the India and Brazil entered into Memorandum of Understanding (MoU) to explore areas of mutual collaboration for the benefit of Micro, Small, and Medium Enterprises (MSMEs) and facilitate their access to green finance. Besides, some support also came in as Commerce and Industry Minister Piyush Goyal said that India is working to expand the preferential trade agreement with South-American nation bloc Mercosur to further promote trade and investment between the two regions. In second half of the session, market witnessed some profit taking but in last leg of the trade index again added gains and ended above 25,700 mark.
On the NSE sectoral front, traders were seen piling up positions in PSU Bank, Auto and FMCG, while selling was witnessed in IT, Chemicals and Consumer Durables. The top gainers from the F&O segment were Indian Bank, Cummins India and Bharat Forge. On the other hand, the top losers were IDFC First Bank, UPL and AU Small Finance Bank. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 25400 - 25600 puts indicating this is the trading range expectation.
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