Supported by positive Asian and European markets, the Indian stock market closed Wednesday trading session in the positive zone for the second consecutive session.

Investors still expected sentiment to remain weak given continued worries about the economic impact from Narendra Modi’s action, with volatility expected ahead of the monthly expiry of derivative contracts on Thursday.

Nifty ended the day at 8,033, up 31 points, while BSE Sensex closed at 26,052, up 91 points.

Economic Affairs Secretary Shaktikanta Das said that banks, NABARD and RBI have been advised to make cash available to district cooperative banks to ensure that farmers have access to funds. A total of Rs 21,000 crore has been sanctioned by NABARD to district central cooperative bank.

With the new currencies yet to reach many of the rural areas, the government said Rs 500 and Rs 2000 notes have been made available in 1.55 lakh post offices across the country. In addition, to promote greater usage of payments through e-wallets, RBI has decided to increase the monthly transaction limit for individuals from Rs 10,000 to Rs 20,000. Similar enhancements have also been announced by RBI for merchants.

Asian markets, Hong Kong’s Hang Seng and Shanghai Composite Index were marginally down, while Japan’s Nikkei was marginally up.

The S&P BSE Sensex closed at 26,052, up 91 points, while NSE Nifty ended the day at 8,033, up 31 points. A total of 6 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE. Out of 1,883 stocks traded on the NSE, 371 declined, 1243 advanced and 269 remained unchanged today.

The BSE Mid-cap Index is trading up 1.22% at 12043, whereas BSE Small-cap Index is trading up 1.51% at 11802.

Healthcare, Metal, Consumer Durables, Capital Goods sectors saw promising traction towards end of the trading hours, while Banking, Finance, Telecom, Power sectors indicated lack of trading activity on BSE.

The rupee was trading lower at Rs. 68.50/$.

Out of 1,883 stocks traded on the NSE, 371 declined, 1243 advanced and 269 remained unchanged today.

Top 5 Nifty Gainers: Asian Paints (1.54%), Infosys Ltd. (0.72%), TCS (0.72%), Wipro (0.46%) and Bajaj Auto (0.41%).

Top 5 Nifty Losers: Tata Motors (-2.55%), NTPC (-2.28%), ICICI Bank (-1.15%), GAIL (-1.43%) and Sun Pharma (-1.26%)

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The bloodbath continues for Indian equity benchmarks where frontline gauges shaved off two and a half percent, breaching their crucial levels. The BSE Sensex fell below the psychologically important 26,000-level while Nifty crashed below the key 8,000-mark. The Nifty Index dropped below the 8000-mark for the very first time since June 24, when global equities had sold off on the surprise Brexit vote.

Nifty trading at 7,929, down 145 points, while BSE Sensex closed at 25,765, down 385 points.

Wipro, TCS, ONGC, Reliance and Hero were among the gainers, whereas SBI, Tata Steel, PowerGrid, Maruti, Tata Motors and Mahindra & Mahindra were among the top losers on BSE. The stocks today dropped by 3-6%.

In this downturn, some sectors worth buying would be Capital Goods, Banking, Oil & Gas, Pharma while sectors that can be avoided are Auto and Realty.

Panacea Biotec rallied 2.3% after the pharma company announce receipt of Establishment Inspection Report (EIR) from the USFDA indicating the formal closure of the cGMP and Pre­ Approval Inspection conducted by USFDA, at its Oncology Parenteral and Oral Solids Dosage formulation facilities at Malpur, Baddi in Himachal Pradesh.

Cadila Healthcare slipped 1.7%. Zydus Cadila has received the final approval from the USFDA to market for Metronidazole Tablets USP in strengths of 250 mg and 500 mg. The drug which is used to treat infections caused by bacetria will be produced at the group’s formulations manufacturing facility at Baddi.

Mawana Sugars soared 12% to Rs 48 on the BSE. The Board of Directors of the Company has agreed to sell one of the operating units of the Company viz. Titawi Sugar Complex (TSC) in Uttar Pradesh as a going concern on an ‘As is Where is What is’ basis to Indian Potash Limited.

Techno Electric & Engineering Company was down 2% when the market closed today.

The rupee was trading at 68.15/$ trailing by 2 paise.

Out of 1,886 stocks traded on the NSE, 1428 declined, 228 advanced and 230 remained unchanged today.

Top 5 Nifty Gainers: Adani Ports & Sez (2.67%), Maruti Suzuki (2.34%), Cipla (2.34%), Hind. Unilever (1.67%) and Tata Steel (1.55%).

Top 5 Nifty Losers: BHEL (-2.80%), L&T (-1.81%), NTPC (-1.65%), GAIL (-1.58%) and Dr Reddys Lab (-0.97%)

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