Live
- They always want me to win, and now I feel lucky to have been offered a story like ‘Zebra’: Satyadev Kancharana
- ‘Democracy first, humanity first’: PM Modi in Guyana's parliament on two countries' similarities
- PKL Season 11: Telugu Titans register third straight win to top standings
- Is Pollution Contributing to Your COPD?
- NASA Unveils Underwater Robots for Exploring Jupiter's Moons
- Additional Central forces arrive in violence-hit Manipur
- AR Rahman and Saira Banu’s Divorce: Legal Insights into Common Issues in Bollywood Marriages
- 82.7 pc work completed in HPCL Rajasthan Refinery area: official
- Curfew relaxation extended in 5 Manipur districts on Friday
- Tab scam prompts Bengal govt to adopt caution over fund disbursement
Indian markets bucking weak global tend
The Indian markets are bucking the weak global trend aided by positive manufacturing PMI data and optimistic expectations of the upcoming Q4 results, Vinod Nair, Head of Research, Geojit Financial Services, said on Wednesday.
Mumbai: The Indian markets are bucking the weak global trend aided by positive manufacturing PMI data and optimistic expectations of the upcoming Q4 results, Vinod Nair, Head of Research, Geojit Financial Services, said on Wednesday.
Buoyancy of the broad market indicates the strength to continue in the short term, he said.
Meanwhile, strong US economic data has cast doubts on the US Fed rate cut in June as anticipated by the market.
The market is also focused on US Fed Chair Jerome Powell’s speech scheduled later on Wednesday for more hints.
A statement in line with the last policy is predicted to bring back respite to the global market, Nair said.
Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty remained volatile throughout the day after an initial weak start attributed to negative global cues. Despite this, the overall sentiment remains robust as the index sustains itself above key moving averages.
"The Relative Strength Index (RSI) indicates bullish momentum in the short term. Over the short term, the index may trend towards 22,650. Support is positioned at 22,350 on the lower end," he said.
At close on Wednesday, the Sensex was down 27.09 points or 0.04 per cent at 73,876.82, while the Nifty was down 18.60 points or 0.08 per cent at 22,434.65.
