Indian equity benchmark -- Nifty ended higher with gains of over half a percent on Wednesday amid easing crude oil prices after expectations of diplomatic solution to the US-Iran war through talks at the UN in New York. Index made a positive start, as traders took support with the HSBC Flash India Purchasing Managers’ Index (PMI) data showing India’s private sector activity strengthened in September, led by a sharper improvement in manufacturing. The HSBC Flash India Composite Output Index rose to 56.5 in September from a final reading of 54.3 in August, signalling the strongest expansion in private sector activity since June. In second half of the session, index continued its positive trade till the end of the session, as sentiments remained upbeat, after the rating agency Crisil Ratings, in its latest report, forecasted 9-11% growth in revenue of 18 large states, which account for more than 90% of India’s gross state domestic product (GSDP), this fiscal (FY27). Finally, Nifty ended near 23,450 mark.
Most of the sectorial indices ended in green except IT, Media and Chemical stocks. The top gainers from the F&O segment were Steel Authority of India, PB Fintech and Bandhan Bank. On the other hand, the top losers were Inox Wind, Ather Energy and Persistent Systems. In the index option segment, maximum OI continues to be seen in the 23900 - 24100 calls and 22900 - 23100 puts indicating this is the trading range expectation.
