Domestic market showed correction in first half, found support on lower levels gained strength in second half and closed with partial gain. As advance decline ratios shows weakness in the market i.e. 1009 declines while 678 advance and 360 remained unchanged.
If sustain on higher levels then more positive movements were seen otherwise more correction is expected.
PSU banking sector were losers of the day while IT sector gains.
Global Markets Update
Air France refused the trade unions’ demand for 6% pay increase as unrealistic, as the airline braced for the start of a seventh day of strikes that have hurt its financial performance.
Australia stocks slipped lower on Wednesday, witnessing losses in the Telecoms Services; Utilities and Consumer Staples sectors led shares lower. At the close in Sydney S&P/ASX 200 lost 0.51%.
Jubilant FoodWorks, reported over two-fold jump in its standalone net profit at 48.47 crore for the quarter ended September 30.
Birla Corporation Limited, the M P Birla group flagship company, would invest around Rs 2,400 crore for its proposed new cement plant at Mukutban near Nagpur.
Telecom equipment maker HFCL today said that it has received advance purchase order worth Rs 579 crore from state-run firm BSNL for building 2G network in Assam.
Hospitality chain Leela Palaces, Hotels and Resorts has won the management contract to operate the Mahatma Mandir convention and exhibition centre and a luxury hotel in Gandhinagar.
Mahanagar Gas stock slipped 3% after block deal, while nearly 7.6% of equity was traded in block deals on the NSE.
Tech Mahindra ties up Balbix for artificial intelligence-based cybersecurity platform.
Japanese stocks dropped Wednesday following a strong rally the previous day.The Nikkei ended 0.5% lower to 21,687.10.
Taiwan stocks inched higher as gains in the Glass, Oil, Gas & Electricity and Electricity sectors led shares higher.At the close in Taiwan, the Taiwan Weighted gained 0.43%.
China and Hong Kong stocks rose on Wednesday, led by financial firms, as the market welcomed Beijing’s pledge to further open the country’s financial sector to foreign investors.
South Korea’s Kospi index, meanwhile, lost 0.68 percent as technology stocks broadly declined.
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