Indian equities extended gains for a third straight session on Wednesday, supported by the US softening its stand on India over trade tariffs. Analysts expect markets to maintain their positive bias, supported by the ongoing earnings season, constructive progress on the India–US trade deal, and improving global cues.
STATE OF THE MARKETS
- Tech View: Besides, the index has moved above the 21EMA, confirming the prevailing uptrend. The sentiment might remain positive in the short term, with the index potentially reaching 26,000. On the lower end, immediate support is placed at 25,700.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 3% to settle at 12.11 levels.
Stocks in F&O ban today
1) SAIL
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors net sold shares worth Rs 1,750 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 5,127 crore.Rupee
The rupee depreciated 12 paise to close at 88.62 against the US dollar on Wednesday, weighed down by the strength of the American currency in the overseas market and elevated crude oil prices.