Sectorally, buying was seen in realty, telecom, energy, oil & gas, and banks while auto, consumer durables, FMCG, and metals stocks saw some selling pressure
BSE was up by 4.5% on Wednesday due to news of increasing transaction charges on the equity derivative segment from 1 November 2023. The stock has given a good run up from Rs 1420-1820 levels in the last 2 months so we would avoid fresh longs at the current levels as we can see some divergence in RSI.
The Indian market closed in the red for the third consecutive day, with the S&P BSE Sensex falling over 200 points and the Nifty50 closing below 19600 levels. Stocks in the oil & gas, metal, telecom, FMCG, and energy sectors saw selling. Some stocks that performed well include Bombay Burmah Trading, Angel One, and Paytm, which hit fresh 52-week highs. Analysts recommend buying Bombay Burmah for long-term investment, Angel One for a positional target of 2490, and Paytm with a stop loss at 948.
The S&P BSE Sensex fell by over 200 points while the Nifty50 managed to hold on to 19600 levels. Sectorally, buying was seen in auto, consumer durables, and FMCG stocks while metal, energy, oil & gas and power stocks saw some selling pressure