Indian equities witnessed strong bounce post losses in previous three sessions, with Nifty climbing to 26,205, coming close to its record high and marking the sharpest one-day rise in five months. Overall, analysts say the market backdrop remains favourable, driven by a healthier Q3 demand setup and expectations of capex pick up along with potential RBI and FED rate cut, which could help market cross its all time high.
STATE OF THE MARKETS
- Tech View: In addition, a bearish divergence is visible on the daily timeframe along with a bearish crossover. Sentiment may continue to remain weak, with the possibility of the index falling towards 25,700. On the higher end, resistance is placed at 26,000.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.8% to settle at 12.02 levels.
Stocks in F&O ban today
NIL
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 bought shares worth Rs 4,778 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 6,248 crore.
Rupee
The rupee slipped 1 paisa to close at 89.23 (provisional) against the US dollar in a range-bound trade on Wednesday, as firm domestic equities and a slide in global crude prices offset the impact of a strengthening greenback.