For the day, the USD-INR pair is expected to quote in the range of 67.25 and 67.80, says Motilal Oswal.
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 10.5 points or 0.1 percent. Nifty futures were trading around 10,761-level on the Singaporean Exchange.
Moneycontrol took a look at data for the past four months, which revealed that five BSE stocks have been able to return at least five percent at the end of each month this year
As many as 15 midcaps rose by 50 percent to 136 percent in the last one-year. These include: Jindal Steel & Power, L&T Infotech, Ashok Leyland, Tata Global Beverages, Divi’s Laboratories, 3M India, Biocon, Mphasis, Page Industries, Future Retail and Gruh Finance.
“Bank Nifty is likely get into a corrective downward move ahead of weekly expiry.” says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management Ltd.
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The Dow Jones Industrial Average rose 0.75 percent to end at 24,542.54 points, while the S&P 500 gained 0.97 percent to 2,697.79. The Nasdaq Composite added 1 percent to finish the session at 7,339.91.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, while Japan's Nikkei climbed 0.5 percent.
The move comes at a time when authorities are clamping down on shell companies -- listed as well as unlisted -- for being allegedly used as conduits for illicit fund flows.
Panic dollar demand from importers and traders sent the Indian unit tumbling by a sharp 40 paise to 67.48 in early trade, triggering the central bank's intervention to defend the sinking currency, a currency dealer said.
The Nifty which breached 10,750 levels in intraday trade failed to close above the crucial levels as traders preferred to book profits at higher levels. The index closed 23 points higher or 0.22 percent at 10,741.70.
A recovery in banks, cements, TCS and RIL pushed up indices in the last couple of hours of trade
The Nifty50 formed a bullish candle after forming a bearish candle on the daily candlestick charts on Tuesday. Investors are advised to remain neutral on markets and adopt a stock specific approach.
The Sensex is up 103.03 points at 35319.35, while the Nifty was up 23.90 points at 10741.70.
Under the agreement, SLCM will provide warehousing, assaying services and crop management services to BSE for storage of various food grains, pulses and other agro based commodities at various places in India.
Ignoring pleas by allies, Trump on Tuesday pulled out of an international agreement with Iran that was agreed in late 2015, raising the risk of conflict in the Middle East and casting uncertainty over global oil supplies at a time when the crude market is already tight.
Kotak Securities believes that US President Donald Trump’s decision to pull out of the Iran nuclear deal could ‘exacerbate the global crude supply-demand deficit’ and keep prices elevated in the near-term
The market breadth was in favour of the declines with 772 stocks advancing while 900 declined and 370 remained unchanged. On the other hand, in the BSE, 1190 stocks advanced and 1396 declined and 131 remained unchanged.
60 stocks hit new 52-week low including names like Alok Industries, Chennai Petro, EROS International, HUDCO, NBCC, MRPL and Vakrangee among others.
Tata Elxsi, Mindtree, Tech Mahindra, Tata Consultancy Services and HCL Tech will get astrological support, says Satish Gupta of astrostocktips.
On a sectoral basis, Ambit Capital is positive on IT sector, but warns the valuations are not as attractive as before.
The market breadth was in favour of the advances with 844 stocks advancing while 728 declined and 458 remained unchanged. On the other hand, in the BSE, 1057 stocks advanced and 777 declined and 93 remained unchanged.
On the technical front, 10,650-10,600 spot levels should act as a strong support area for Nifty spot with the current trend likely to continue towards 10,800-10,850 levels.
The Nifty is expected to face immediate resistance at around 10,760 and 10,790 levels and is likely to find support around 10,640 and 10,600 levels. Moreover, if the index manages to breach 10,790 levels on the closing basis, then a further rally towards 10,950 is possible.