Bears floated on Indian markets on Wednesday, a day before the weekly futures & option (F&O) expiry. Sensex tumbled below the 59,300 mark and Nifty 50 erased its 17,700 level before recovering some losses in the later part of the day. Except for FMCG stocks, all sectoral indices were in the red with capital goods continuing to be under pressure. Selloffs in banking, oil and gas, IT, and healthcare stocks also contributed to the downside. Under F&O, Nifty and Bank Nifty have a weekly expiry day, which is Thursday. On the weekly expiry day, the Nifty is expected to trade with a resistance of 17,950, and any move above this level can lead up to short-covering.
- Gautam Adani’s Group pledges shares worth $12.5 billion in Ambuja Cements, ACC – Business Today
- Here Is How to Spot The Hidden Demand in S&P 500 & What to Expect from Here On – Barchart