Nifty ends marginally higher on Wednesday

Nifty ended marginally higher on Wednesday as India-US trade deal euphoria fades away. While U.S. President Donald Trump announced an immediate reduction in reciprocal tariffs on Indian goods to 18%, investors sought more clues on trade deal between India and US. Earlier, Index made a flat-to-negative start following mixed cues from other Asian markets. Key benchmark witnessed volatility and traded between green and red for most part of the day. In later part of the day market gathered strength and entered into green as traders took some support with renewed foreign fund inflow. Foreign institutional investors bought equities worth Rs 5,236.28 crore on Tuesday. Besides, sentiments remained upbeat after the HSBC India Composite PMI Output Index, which measures both manufacturing and services, rose to 58.4 in January from 57.8 in December. In last leg of trade, traders opted to book some gains which led market to end with marginal profit.

Most of the sectorial indices ended in green except IT and Pharma stocks. The top gainers from the F&O segment were Kaynes Technology India, Dixon Technologies (India) and Power Finance Corporation. On the other hand, the top losers were Infosys, Tata Consultancy Services and Coforge. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 25400 - 25600 puts indicating this is the trading range expectation.