Indian equity benchmark -- Nifty ended over quarter percent lower on Friday amid elevated crude oil prices, as renewed concerns emerged after Iran reportedly struck hostile targets in the strategic waterway and stated that its agreement with Oman to manage maritime traffic would not fully reopen the vital global trade route. The index made a negative start, following weak cues from global markets and a selloff in financial heavyweights. Soon, index extended its losses and continued its pessimistic trade till the end of the session. Traders were concerned as foreign institutional investors (FIIs) continued to pull out fund from Indian markets. FIIs were the net sellers on Thursday’s session, offloading securities worth Rs 17.86 crore. Besides, market participants overlooked Finance Minister Nirmala Sitharaman's statement that the government's sustained capital expenditure push over the years has encouraged private sector investment, with companies now taking on greater risks to capitalise on India's growth momentum. Finally, Nifty ended below 24,600 mark.
Traders were seen piling up positions in Auto, IT and PSU Bank stocks, while selling was witnessed in Private Bank, Consumer Durables and Chemicals. The top gainers from the F&O segment were Samvardhana Motherson International, Aurobindo Pharma and Fortis Healthcare. On the other hand, the top losers were Crompton Greaves Consumer Electricals, Bajaj Finance and Cholamandalam Investment and Finance Company. 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.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 0.18% and reached 12.18. The 50 share Nifty down by 65.35 point or 0.27% to settle at 24,570.65.
Nift
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