Nifty ended marginally lower on Wednesday as investors remained cautious ahead of the US Fed policy announcement and continuation of cross-border strikes between Israel and Iran. Analysts expect Thursday’s session to be guided by global cues including the Fed policy outcome and developments on the geopolitical front.
STATE OF THE MARKETS
- Tech View: Nifty closed below the crucial support level of 24,850. However, a positive surprise from the Fed could lift both global and domestic markets, helping them shake off prevailing negativity. On the upside, a decisive reclaim of 24,850 may trigger a rally towards 25,000 and higher, while a failure to move back above this level could drag Nifty down towards 24,500.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.9% to settle at 14.28 levels.
Stocks in F&O ban today
IREDA
CDSL
ABFRLChambal FertilisersHudco
RBL Bank
Titagarh
Birlasoft
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 891 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 1,091 crore.
Rupee
The rupee depreciated 9 paise to close at 86.43 against the US dollar on Wednesday, dragged down by risk-off sentiments and elevated crude oil prices.
FII data
The position of FIIs in the futures market reduced from a net short of Rs 99,483 crore on Tuesday to Rs 99,183 crore on Wednesday.
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