Extending gaining streak for third consecutive session, Indian equity benchmark -- Nifty ended higher on Friday as lower crude oil prices and strong ongoing Q1 earnings improved trading sentiments. Index made a positive start tracking firm cues from the global markets. Soon, Index added some points and stayed in positive territory throughout the day, supported by buying in Reliance Industries, and Auto stocks. Besides, continued foreign fund inflow boosted market sentiment. As per exchange data, foreign Institutional Investors (FIIs) continued to be net buyers on July 30, recorded a net inflow of Rs 3,623.51 crore from Indian equities. Some support also came in as Additional Secretary in the Department of Commerce, Darpan Jain stated that the India-European Union (EU) Free Trade Agreement (FTA) includes a comprehensive work plan to address concerns surrounding the EU's Carbon Border Adjustment Mechanism (CBAM), commonly referred to as the carbon tax. Finally, Nifty ended higher with gains of over quarter percent.
Most of the sectorial indices ended in green led by Media, Auto, and Oil & Gas stocks. The top gainers from the F&O segment were Bajaj Finance, Hyundai Motor India and Bajaj Finserv. On the other hand, the top losers were APL Apollo Tubes, Dixon Technologies (India) and Mankind Pharma. 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.
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