On Wednesday, India’s BSE testing stock benchmark Nifty50 opened lower than the previous day. Although BSE Sensex is above 80,700 points, nifty 50 has moved from 24,650. At around 9:25 am, the BSE Sensex exhibited a value of 80,723.22 which was down by 80 points or about 0.099%. Nifty50 stood at 24,686.85 representing a drop by12 points or about 0.049%.
Stocks climbed higher on Tuesday; an upward trend that spilled over to other global markets. They expect this positivity to persist into near future.
According to Nagaraj Shetti of HDFC Securities: “The underlying trend of Nifty remains positive.” However if it manages to sustainably cross the mark of 24700 levels then in short-term it can open next upside target around the levels of 25000-25100 zones. Immediate support is seen near the level of 24500.
Oil fell on Wednesday after an estimated U.S crude build and expectations for an easing in tensions in Middle East following a visit by mediators to the region. Brent crude futures lost nine cents to $77.11 per barrel while U.S West Texas Intermediate crude futures dropped ten cents to $73.07 per barrel.
India Cements, Balrampur Chini Mills, GNFC, Nalco, RBL Bank, Sun TV, Aarti Industries ABFRL Manappuram LIC Housing Finance Hindustan Copper Granules SAIL Bandhan Bank PEL and Birla Soft are stocks that are subject to F&O ban today. Black listed securities include those whose outstanding securities exceed their market position limit by over ninety five percent.
On Tuesday FPIs sold shares worth Rs 1,458 crore while DIIs bought shares worth Rs 2,252 crore. FIIs’ net long position increased from Rs 26 billion yesterday to a net long position of Rs 26,234 crore yesterday too from net short position of Rs3.5 bn on Monday
