Indian equity benchmark -- Nifty settled higher with gain of around one percent on Tuesday amid decrease in crude oil prices as US President Donald Trump threatened to take control of Strait of Hormuz, the most important chokepoint in the world for the crude market. The day began on an optimistic note, as global peers staged recovery from recent losses. Meanwhile, index witnessed broad based buying across the sector as traders opted buy fundamentally good stocks at lower levels. Sentiments were upbeat with Commerce and Industry Minister Piyush Goyal’s statement that the nine free trade agreements (FTAs) finalised by India in the last four years will provide huge business opportunities for the domestic pharma and healthcare sectors. Some support also came as the Reserve Bank of India (RBI) injected Rs 50,000 crore into the banking system by purchasing government securities through Open Market Operations (OMO). Afterwards, market started climbed higher to touched its intraday high point and ended the session above 24,250 mark.
Most of the sectorial indices ended in green except IT and Oil & Gas stocks. The top gainers from the F&O segment were Dixon Technologies (India), Shriram Finance and Glenmark Pharmaceuticals. On the other hand, the top losers were Polycab India, KEI Industries and Coforge. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 puts indicating this is the trading range expectation.
