On Wednesday, the Sensex dropped by 23.60 points, starting the day at 84,890.44. Meanwhile, the Nifty fell 14.60 points, opening at 25,925.80.Within the Nifty index, several prominent companies, including PowerGrid, Hindalco, Power Grid, And Tata Steel were among the top gainers. On the other hand Britannia Industries, Wipro, Asian Paints, And Shriram Finance Ltd were the the top losers.
Anand James, Chief Market Strategist, Geojit Financial Services, said, "Regrouping of bulls may also be expected once within the 25860-770 band. Asides these early entry points on either sides, directional trades await breach of 25612-26060 band."On the sectoral front, Nifty Metal jumped by over 1.2%. The rally comes in response to China's recent announcement of measures aimed at stimulating its slowing economy.Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, "The Chinese monetary stimulus measures lifted the Chinese and Hong Kong markets yesterday and if the rally continues it is possible that FIIs will move more funds to invest in these markets which are highly attractive on valuations. In India metal stocks rallied in response to the Chinese stimulus measures."You may also like
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