Indian equity benchmark -- Nifty ended lower, declining over one percent on Monday, amid elevated crude oil prices and broad-based selling across almost all sectors. After a flat-to-positive start, the index soon slipped into negative territory and remained under pressure until the end of the session. Traders remained cautious as the RBI said that India's forex kitty dropped by $8.57 billion to $726.02 billion during the week ended October 9. In the previous reporting week, the reserves had dropped by $12.95 billion to $734.60 billion. Besides, market participants avoided risky bids ahead of weekly F&O expiry. Finally, Nifty ended below 22,900 mark.
Most of the sectorial indices ended in red except PSU Bank stocks. The top gainers from the F&O segment were Union Bank of India, Punjab National Bank and Bank of Baroda. On the other hand, the top losers were Axis Bank, Inox Wind and Suzlon Energy. In the index option segment, maximum OI continues to be seen in the 23900 - 24100 calls and 21900 - 22100 puts indicating this is the trading range expectation.
