Indian equity benchmark -- Nifty ended flat with negative bias on Tuesday. Index made a flat-to-negative start following weak cues from other Asian markets, as concerns over AI and semiconductor valuation adjustment kept market participants cautious. Soon, index turned volatile and continued its choppy trade near neutral line till the end of the day. Traders avoided risky bids ahead of monthly and weekly F&O expiry. Besides, sentiment remained subdued as Foreign Institutional Investors (FIIs) continued to be net sellers on July 27, recorded a net outflow of Rs 1,688.23 crore from Indian equities. However, strong buying in index heavy weight IT and Tech stocks help market to capped losses. Finally, Nifty ended below 24,000 mark.
Traders were seen piling up positions in IT, Realty and Consumer Durables stocks, while selling was witnessed in FMCG, Chemicals and PSU Bank. The top gainers from the F&O segment were Coforge, Lodha Developers and Kalyan Jewellers India. On the other hand, the top losers were Suzlon Energy, Godfrey Phillips India and Varun Beverages. In the index option segment, maximum OI continues to be seen in the 23900 - 24100 calls and 23900 - 24100 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 0.77% and reached 12.56