Snapping four-day losing streak, Indian equity benchmark -- Nifty ended higher on Tuesday driven by value buying at lower levels. Index made a gap-down start amid mixed cues from other Asian markets, and prolonged US-Iran jitters weighted on investors' sentiments. Index continued its lacklustre trade in red during late morning session as traders opted to remained on sideline ahead of weekly F&O expiry. Further, foreign institutional investors’ (FIIs) persistent selling in Indian equities kept pressure on market sentiments, as the FIIs sold equities worth Rs 3,911.68 crore on June 01, as per NSE data. Besides, some cautiousness came with a private report stating that India's CPI inflation is expected to rise by around 70 bps to 4.8 per cent with crude oil averaging $90/bbl in FY27. This projection comes as the ongoing conflict in West Asia and a downgraded domestic monsoon forecast introduce fresh challenges to India's macroeconomic trajectory. However, in afternoon the session, index witnessed sharp recovery to enter into green terrain on account of hectic buying in IT and Tech stocks. Afterwards, the index continued its firm trading and ended with a gain of 0.43 percent.
Traders were seen piling up positions in IT, FMCG and Auto stocks, while selling was witnessed in Pharma, Private Bank and Oil & Gas. The top gainers from the F&O segment were Tata Consultancy Services, Infosys and Tata Elxsi. On the other hand, the top losers were NHPC, Force Motors and Hitachi Energy India. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 calls and 23900 - 24100 puts indicating this is the trading range expectation.
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