Dear Trader…
Market extended gains for the fifth consecutive session on Wednesday. After a soft start, the Nifty gradually moved higher through the day, led by IT, FMCG, and realty stocks, while banking counters lagged. The index eventually settled with modest gains of 0.20% at 25,083.30. Broader markets outperformed with positive market breadth, reflecting strength beyond frontline names.
Today’s advance was largely supported by buying in large-cap IT stocks and steady domestic sentiment. In the absence of any major domestic triggers, global cues such as updates from the Jackson Hole symposium, geopolitical developments, and discussions in the GST Council meets will remain on investors’ radar.
Participants should continue to focus on stock selection based on sectoral strength and rotation. While broader indices are also trending higher, the pace of advance remains moderate, indicating selective participation; hence, caution is warranted in the midcap and smallcap segments.
Nifty futures opened at 24974.90 points against the previous close of 25033 and opened at a low of 24960 points. Nifty Future closed with an average movement of 148 points and a rise of around 49 points and 25083 points…!!
On the NSE, the midcap 100 index will rise of 0.46% and smallcap 100 index is closing rise of 0.30%. Speaking of various sectoral indices only Media, Pharma, Private Bank, PSU Bank, Healthcare and Oil & gas stocks were seen selling on the NSE, while all other sectoral indices closed higher.
At the start of intra-day trading, October gold opened at Rs.98742, fell from a high of Rs.99241 points to a low of Rs.98516 with a rise of 504 points, a trend of around Rs.99200 and September Silver opened at Rs.1,11,106, fell from a high of Rs.1,11,970 points to a low of Rs.1,10,281 with a rise of 456 points, a trend of around Rs.1,11,801.
Meanwhile, The Indian market sustained its positive momentum, supported by strong domestic inflows and favourable macro tailwinds. However, rich valuations and external risks, particularly the U.S. tariffs and sanctions on purchase of Russian crude, continue to pose challenges. Hence, greater visibility on U.S. trade policy and the path of earnings recovery will be critical.
global sentiment is cautious ahead of the release of the FOMC minutes later today, with investor attention gradually shifting to the U.S. Fed Chair’s speech at Jackson Hole this weekend, which is expected to provide clearer guidance on future policy direction.
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