Indian equity benchmarks closed higher on Wednesday, reflecting an overall positive market sentiment. Analysts say, although the index opened with a strong gap-up, the subsequent selling pressure in the second half resulted in a complete gap fill within the same session. This indicates the presence of selling interest at higher levels, suggesting that traders should remain cautious near key resistance zones.

STATE OF THE MARKETS

• Tech View: On the upside, resistance is placed at 22,800, above which the index could move towards 23,000 and higher. On the downside, a decisive fall below 22,200 may revive bearish momentum.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 10.8% to settle at 24.87 levels.

Stocks in F&O ban today

NIL

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action
Foreign portfolio investors net sold shares worth Rs 8,331 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 7,172 crore.

Rupee

The rupee gained 15 paise to 94.70 against US dollar in early trade on Wednesday, tracking positive cues from domestic equity markets and retreating American currency overseas.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)