Indian equities recovered on Wednesday, buoyed by optimism over a potential India-US trade deal and ahead of the US Federal Reserve’s policy outcome. Analysts said optimism around trade progress, upcoming earnings, and sustained FII inflows is expected to lend support to near-term market sentiment.
STATE OF THE MARKETS
- Tech View: Initial support is placed at 25,850, below which the index might slip into a consolidation zone. On the higher end, once Nifty decisively moves above 26,100, it is likely to advance towards 26,300/26,500 in the short term.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 0.2% to settle at 11.97 levels.
Stocks in F&O ban today
1) Samman CapitalSecurities 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 2,540 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 5,693 crore.Rupee
The rupee appreciated eight paise to close at 88.21 (provisional) against the US dollar on Wednesday, on strong domestic markets and optimism over the trade deal between India and the US.