The benchmark indices ended lower for the second consecutive session on Wednesday amid volatility. Recovery in European markets and buying at lower levels helped the indices recoup losses. The Nifty once again took support near the 10-day SMA or 17,600 and reversed sharply. After yesterday’s sharp intraday fall, the index has formed a inside bar candle pattern which indicates indecisiveness between bulls and bears. For today, 17,800-17,850 would be the key resistance level while 17,625-17,590 could act as a strong support
US stocks lost momentum heading into the close Wednesday, with the Dow Jones finishing 90 points higher and the S&P 500 up 0.2% while the Nasdaq pulled back again to end 0.2% lower after suffering its worst day since March. The technological sector struggled for the second session, as treasury yields were volatile. Asia-Pacific stocks mixed as investors await China’s September factory activity data.
Stocks in news
Delta Corp: Looking to raise $30-40 million for online gaming business
Bajaj Auto swaps stake in KTM to get a share in Pierer Mobility
Emami embarks on distribution initiatives, rural expansion to drive growth
Bharat Electronics, non-defence revenues from 10 per cent currently to 25-30 %
Standard Life sells 5% stake in HDFC Mutual Fund for Rs 3,061 crore, Prior to the stake sale, Standard Life held 21.23 per cent stake in HDFC MF
Persistent Systems to acquire SCI, Shree Infosoft for $60 million
Birla Corporation plans to raise to 30 mn tonnes by 2027, current production capacity is 15.6 mt
Blue Star to invest Rs 550 cr on new plant in Andhra’s Sri City
Reliance Industries backs Saudi Aramco chairman as independent director
L&T in talks to merge its thermal power business with Sembcorp India
Morepen shareholders approve new unit to house medical device biz
Piramal Group acquires DHFL for total consideration of Rs 34,250 cr, DHFL acquisition to sharpen its retail focus
Godrej Properties to redevelop 7.5 acre land parcel in Mumbai’s Wadala
Must Read: How is china’s Evergrande crisis affecting the global market?
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