This is how analysts read the market pulse:
Domestic markets showed continued optimism, supported by the India-EU FTA, with broader indices outperforming on the strength of metals, financials and oil and gas sectors, while FMCG stocks posted gains amid investor shift towards cyclical sectors, said Vinod Nair, head of research at Geojit Investments. He added that global markets were trading mixed as investors awaited the US Fed’s policy decision. “While the overall expectation is that interest rates are expected to remain unchanged, the focus is on the Fed chairman’s guidance on possible rate cuts later this year. At the same time, rising tensions between the US and Iran and uncertainty over global rates are expected to keep overall sentiment subdued,” Nair said.
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US stocks
US stocks were higher in early trading on Wall Street, with the S&P 500 breaching the 7,000 mark for the first time, ahead of gains from megacap companies Microsoft, Teslaand Meta Platforms after the closing bell, while Apple’s results are due on Thursday.
The MSCI index of shares around the world rose 3.01 points, or 0.29%, to 1,054.17 after rising to an intraday record of 1,055.04, marking the third consecutive intraday record. The index is on track for a sixth consecutive rise, the longest streak of gains this year. The dollar showed signs of stabilizing after its biggest daily percentage decline since August 1, as US President Donald Trump on Tuesday appeared to shake off recent weakness that sent the greenback to a four-year low.
European markets
The pan-European STOXX 600 index fell 0.67%, weighed by a roughly 7% drop in LVMH, after the owner of Louis Vuitton and Tiffany reported quarterly results, but CEO Bernard Arnault said he was cautious about the year ahead.
European Central Bank policymakers flagged growing concerns about the euro’s rapid appreciation against the dollar, warning that it could curb inflation even as price growth is already set to remain below the ECB’s 2% target.
Technical view
The Nifty index has settled around the 25,350 level at a crucial juncture, and a decisive breakout could help extend the recovery towards the 25,600 zone, said Ajit Mishra – SVP, Research, Religare Broking, adding that on the other hand, the long-term moving average, the 200 DEMA around 25,150, remains crucial to hold; in the event of a failure below this level, the correction phase could be resumed.
“In the current environment of mixed global signals and rising domestic optimism, participants are advised to maintain a selective, stock-specific approach, prioritizing sectors showing a more stable trend such as metals and banking, while being selective in others. At the same time, disciplined risk management is essential given the likelihood of continued volatility in the run-up to the Union Budget,” Mishra said.
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Most active stocks in terms of turnover
Hindustan Copper (Rs 6,669 crore), HDFC Bank (Rs 3,305 crore), BEL (Rs 3,189 crore), Hindustan Zinc (Rs 2,739 crore), Maruti Suzuki (Rs 2,366 crore), Eternal (Rs 2,155 crore) and Axis Bank (Rs 2,068 crore) were among the most active stocks on BSE in terms of value. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (shares traded: Rs 64.5 crore), Hindustan Copper (shares traded: Rs 10.8 crore), YES Bank (shares traded: Rs 8.78 crore), Eternal (shares traded: Rs 8.2 crore), ONGC (shares traded: Rs 7.3 crore), BEL (shares traded: Rs 7.19 crore) and Reliance Power (shares traded: Rs 7.19 crore) and Reliance Power (shares traded: 7.3 crore) 6.3 crore) were among the most actively traded stocks on NSE by volume.
Stocks that show buying interest
Shares of Tejas Networks, Data Patterns (India), Hindustan Copper, Olectra Greentech, Schneider, BEML and Syrma SGS Technology were among the stocks that witnessed strong buying interest from market participants.
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52 Week High
More than 86 stocks hit their 52-week highs today, while 261 stocks fell to their 52-week lows. Tata Steel, Tech Mahindra and SBI were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that witnessed significant selling pressure were Radico Khaitan, Home First Finance Company India, Tata Consumer, Asian Paints, Vishal Mega Mart, Aegis Vopak Terminal and Berger Paints.
Sentiment meter bullish
Market sentiment was bullish. Of the 4,373 shares traded on the BSE on Wednesday, 1,315 shares saw a decline, 2,920 rose, while 138 shares remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)
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