Indian equity benchmark -- Nifty continued its pessimistic mood for second consecutive day and ended the session near its crucial 22,800 mark on Wednesday. Index made a gap-up start following positive cues from other Asian markets and strong buying in IT stocks. However, in late morning session, Index wiped out all gains and slipped into negative territory, as traders were concerned with spike in crude oil prices and persistent foreign fund outflow. As per exchange data, foreign institutional investors turned net sellers on Monday, offloading Indian equities worth Rs 1,148.64 crore. In second half of the session, index continued its pessimistic trade and remained under pressure until the end of the session.
Most of the sectorial indices ended in red except IT and Cement stocks. The top gainers from the F&O segment were Wipro, Infosys and HCL Technologies. On the other hand, the top losers were ABB India, Manappuram Finance and Siemens. In the index option segment, maximum OI continues to be seen in the 22900 - 23100 calls and 21900 - 22100 puts indicating this is the trading range expectation.
