New Delhi: The Indian equity markets enclosed the red on Wednesday because of weak international beliefs. At closing, Sensex was down 398 factors, or 0.49 percent, at 81,523 and Nifty was down 122 factors, or 0.49 percent, at 24,918. Selling was led by financial supplies. Nifty Bank was down by 262 factors, or 0.51 percent, at 51,010.
In the Sensex pack, Tata Motors, SBI, Wipro, NTPC, L&T, M&M, JSW Steel, In dusIn d Bank, Tata Steel, and Reliance were the leading losers. Asian Paints, Bajaj Finance, Sun Pharma, HUL, Bajaj Finserv, ITC, Bharti Airtel and Kotak Mahindra were the leading gainers.
Among the sectoral indices, Auto, IT, PSU Bank, Fin Service, steel, real estate, and power index were significant gainers. FMCG and usage were significant laggards. Vaibhav Vidwani, Research Analyst, Bonanza Portfolio claimed: “This decline was largely attributed to a cautious sentiment among investors ahead of the upcoming U.S. consumer inflation data, which is expected to influence future interest rate decisions by the Federal Reserve.”
Mandar Bhojane, Research Analyst of Choice Broking claimed: “On the daily chart, the Nifty is taking support from a rising trend line and has formed a bearish candle. The Nifty has strong support near the 24,800 level. If it breaks this level, it could potentially correct down to 24,600 and 24,400 in the short term. On the flip side, 25,200 acts as a resistance level, and the price may remain sideways within a wide range of 24,800 to 25,200.”
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.(* )international institutional financiers (FIIs) expanded their acquiring as they acquired equities worth
The 2208 crore on Rs 10, while residential institutional financiers offered equities worth September 275 crore on the very same day. Rs very early profession, at 9.45 a.m., In was up 69 factors, or 0.09 percent, at 81,990 and Sensex was up 29 factors, or 0.12 percent, at 25,070.Nifty
