Indian equities ended higher on Wednesday, buoyed by optimism over progress in India-US trade negotiations and anticipation of a rate cut in the US Fed policy outcome later today. Analysts expect the market to continue its gradual up-move, backed by progress in India-US trade talks, potential global liquidity boost by the Fed rate cut and renewed buying momentum driven by positive sectoral cues.
STATE OF THE MARKETS
- Tech View: The trend is likely to remain positive as long as the Nifty holds above the 21EMA, which is currently placed just above 24,900. On the higher side, resistance is seen at 25,400 and 25,500. A decisive move above 25,500 could lead to an additional rally of 400–500 points.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.2% to settle at 10.25 levels.
Stocks in F&O ban today
1) RBL Bank
2) OFSS
4) Angel One
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 1,124 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 2293 crore.Rupee
The rupee appreciated 24 paise to close at 87.85 against US dollar on Wednesday, tracking a positive trend in domestic equities and supported by optimism over US–India trade negotiations.
FII Data
The position of FIIs in the futures market reduced from a net short of Rs 1.59 lakh crore on Tuesday to Rs 1.5 lakh crore on Wednesday.
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