Sensex Today | Stock Market Highlights, Wednesday: In the broader markets, the Nifty MidCap and the Nifty SmallCap ended 0.53 per cent and 0.37 per cent lower, respectively
VK Vijayakumar said that the escalation of the US-Iran conflict and the consequent 5 per cent spurt in Brent crude overnight to $96 is a negative for markets.
Analysts noted that Aviation Turbine Fuel (ATF) represents a significant share of airlines' operating cost and any rise in crude oil price is a negative for the sector.
According to Jefferies, the introduction of CAS adversely impacted equity options turnover and contracts in August, which is negative for companies like BSE and Groww.
Growing inflation fears and expectations of monetary tightening by central bankers due to the spike in global oil prices are among the key drivers of the yields.
At 01:17 PM on Wednesday, the BSE Utilities index was the top gainer among sectoral indices up 1.2 per cent, compared to a 0.65 per cent decline in the BSE Sensex.
Amit Trivedi, technical and derivative research analyst at YES Securities flags key levels to track on MCX India, Ather Energy and Welspun Corp; these stocks rallied up to 39% in August.
The rate on 10-year Japanese government notes, too, climbed higher to hit 3 per cent for the first time since 1996, while UK 30-year yields reached the highest since 1998.
The auto pack delivered a strong performance in August on a yearly basis, with growth momentum sustaining across segments and players; however, some moderation was visible month-on-month, said Emkay.
Annu Projects shares listed at ₹75 on the BSE, a discount of 24.24 per cent against the offer price of ₹99. Meanwhile, on the National Stock Exchange (NSE), it debuted at ₹72, down 27.27 per cent.
Chandan Taparia says that if Nifty crosses 24,100, we could see the index moving towards 24,200-24300. He has recommended buying Persistent Systems, Eternal, & Bajaj Auto shares for the short term
