Nifty extended its losing streak for fourth consecutive session and ended marginally lower on Wednesday due to escalating geopolitical tensions between US-Iran spiking crude oil prices. Index made a positive start driven by sharp buying in blue-chip bank stocks and a firm trend in global markets. Some support also come in with continued foreign fund inflow. As per exchange data, foreign institutional investors bought Indian equities worth Rs 6,688.37 crore on September 02. Further, traders took support with Finance Minister Nirmala Sitharaman’s statement that India recorded a ‘remarkable growth’ of 7.8% in the first quarter of fiscal year 2026-27 despite global disruptions, and against all odds, remains the fastest-growing major economy in the world. However, the index trimmed most of its gains and turned volatile for most of the session on account of profit-booking. Finally, Nifty ended below the 23,900 mark.
Traders were seen piling up positions in Realty, Media and Reits & Realty stocks, while selling was witnessed in IT, FMCG and Auto. The top gainers from the F&O segment were Inox Wind, RBL Bank and Bank of Maharashtra. On the other hand, the top losers were Multi Commodity Exchange of India, Ather Energy and Godrej Consumer Products. 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.
