Indian equity benchmark -- Nifty -- gave up early gains and ended marginally lower on Thursday as worries over inflation risks and global uncertainty kept investors cautious despite softer crude oil prices and a stronger rupee. After a strong start, index maintained notable gains during the first half of the session. Sentiments were upbeat as the Ministry of Commerce & Industry in its latest data has showed that eight key infrastructure sectors’ output growth rose to a two-month high of 1.7 per cent in April 2026, supported by higher output of steel, cement and electricity. The eight core sectors had recorded a growth of 1 per cent in the same month last year, while the expansion rate stood at 1.2 per cent in March 2026. However, volatility during the second half of the session dragged market lower near neutral line. Traders were cautious as India's private sector growth eased marginally in the month of May 2026, amid weaker increases in total new orders, international sales, employment and business activity. The HSBC Flash India PMI Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - was down from a final reading of 58.2 in April to 58.1 in May.
Traders were seen piling up positions in Realty, Consumer Durables and Healthcare stocks, while selling was witnessed in IT, FMCG, and Media. The top gainers from the F&O segment were Sammaan Capital, Grasim Industries and Amber Enterprises India. On the other hand, the top losers were Jubilant Foodworks, PI Industries and Bosch. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 calls and 22400 - 22600 puts indicating this is the trading range expectation.
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