Nifty witnessed a sharp recovery after yesterday's weak session and ended higher on Wednesday. After making a flat-to-negative start, soon Index gained traction and continued its firm trade till the end of the session, driven by a drop in crude oil prices, strong buying in IT stocks. Besides, investors’ sentiment bolstered after Reserve Bank of India’s (RBI) Governor Sanjay Malhotra said it was premature to discuss interest rate hikes, noting that the central bank was monitoring the impact of higher crude oil prices on inflation before taking a view on the policy path. Further, some optimism came as India and the United States have held high-level trade talks aimed at salvaging and recalibrating a proposed bilateral trade agreement after changes in US tariff policy upended a framework negotiated earlier this year. Also, rupee appreciation against US dollar and foreign fund inflow supported market sentiments. Finally, Nifty ended above 24,000 mark.
Most of the sectorial indices ended in green except Auto and Metal stocks. The top gainers from the F&O segment were Oracle Financial Services Software, Exide Industries and InterGlobe Aviation. On the other hand, the top losers were Indian Railway Finance Corporation, GE Vernova T&D India 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.
