Indian equity benchmarks trimmed most of their initial
losses, but ended in the negative zone on Wednesday amid negative cues from global
markets. Key indexes made gap-opening and remained under immense selling
pressure during early deals, however, they recovered most of their lost ground
and came off day’s lows in late afternoon deals.
The Nifty50 has formed a long bull candle on the
daily chart, reflecting sideways movement in the market around 17,400-17,750
levels, according to Nagaraj Shetti, Technical Research Analyst at HDFC
Securities. The emergence of buying interest at the lower levels on the 50-scrip
index is a positive indication, he said.
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Broader Indices
The broader indices ended in green
with the BSE mid-cap index up by 0.46% and the small-cap index up by 0.73The
top gaining sectoral indices on the BSE were Basic Materials up by 0.94%,
Telecom up by 0.87%, Healthcare up by 0.69%, Consumer Durables up by 0.59% and
Industrials up by 0.43%, while Auto down by 1.12%, Power down by 0.91%,
Utilities down by 0.75% and Bankex down by 0.51% were the top losing indices on
BSE.
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India VIX Index
Nifty or India VIX, a gauge of the market’s
expectation of volatility over the near term, fell 0.81% to 19.37 on Wednesday.
SGX Nifty
The trends on SGX Nifty indicate a positive opening
for the index in India with a 105-point gain. The Nifty futures were trading at
17,735.50 on the Singaporean Exchange at around 06:49 hours IST.
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Support and Resistance levels
The key support level for the Nifty is placed at
17,522, followed by 17,420. If the index moves up, the key resistance levels to
watch out for are 17,689 and 17,753, according to pivot charts.
US Markets
The S&P 500 rose 71.68 points, or 1.83%, to 3,979.87.
The Dow Jones Industrial Average rose 435.98
points, or 1.40%, to 31,581.28.
The Nasdaq composite rose 246.99 points, or 2.14%,
to 11,791.90.
The Russell 2000 index of smaller companies rose 39.68
points, or 2.21%, to 1,832.00.
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Asian Markets
Asian markets ended mostly lower on Wednesday. The
Nikkie 225 fell 0.71%, the KOSPI Composite fell 1.39%, the Hang Seng fell 0.83%
while the Shanghai Composite rose 0.09%.
European Markets
European markets ended mostly higher on Wednesday.
Germany’s DAX was up by 0.35%, France’s CAC 40 was up by 0.021% while London’s
FTSE 100 was down by 0.86%.
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Jain Vishwa Prabha sold 1,50,000 shares in CMI
Limited at Rs 10.90 per share on the Nse.
Opelina Sustainable Services Private Limited bought
35,498 shares in Hisar Metal Ind Limited at Rs 146.94 per share on the Nse.
Manish Jalan sold 1,50,000 shares in Jalan Transolu
India Limited at Rs 9.75 on the Nse.
Yogesh Kumar Sharma sold 2,84,446 shares on
Kohinoor Foods Limited at Rs 73.94 on the Nse.
Devika Anand bought 16,000 shares in Vivo Collab
Solutions Limited at Rs 203.70 on the Nse.
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Foreign institutional investors (FIIs) have bought
shares worth a net Rs 758.38 crore, whereas domestic institutional investors
(DIIs) sold shares worth a net Rs 138.67 crore on September 7, as per
provisional data available on the NSE.
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Delta Corp has been placed under the F&O ban
for September 8. 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.
