Nifty ended lower, falling over half a percent on Wednesday. Index made a flat-to-positive start following mostly positive cues from other Asian markets, after sharp drop in crude oil prices. Crude oil prices fell, amid easing concerns about military conflict in the Gulf and traders mulled prospects for an Iran-Oman deal to secure a safe transit route through the Strait of Hormuz. However, the index stayed under pressure throughout most of the session as private report said that Indian economic growth slowed slightly to 7.1% in the April-June quarter from a better-than-expected 7.8% in the previous quarter, amid more subdued private investment. The index extended its losses towards the end of the session and closed 0.52% lower.
Traders were seen piling up positions in Cement, Metal and Chemicals stocks, while selling was witnessed in IT, FMCG and Consumer Durables. The top gainers from the F&O segment were Hindustan Zinc, Steel Authority of India and Bank of Maharashtra. On the other hand, the top losers were Varun Beverages, Jubilant Foodworks and Premier Energies. 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.
