Stock Market Today: With a gain of 79 points, or 0.37 percent, GIFT Nifty on the NSE IX closed at 21,607 on Wednesday, indicating that Dalal Street was off to a good start. The hourly chart showed that Nifty ended roughly 34 points higher, finding support just above the 21-EMA. This led to a robust recovery later in the session. In advance of inflation data later this week, traders continued to sell the US dollar on bets that the US Federal Reserve would soon start lowering interest rates, which caused the US dollar to weaken against most major currencies on Wednesday.
Stock Market Today: Rupee falls; Wall Street ended higher
Due to dollar buying by importers amid ongoing concerns about oil supplies via the Red Sea route, the rupee fell by 8 paise to settle at 83.18 against the US dollar on Tuesday. Wall Street continued to rise on Tuesday as investors anticipated the release of important inflation data and the Federal Reserve’s dovish policy reversal from last week continued to have an impact. While oil held onto gains from the previous two days following attacks by Houthi militants on ships in the Red Sea that disrupted maritime trade, Asian shares tracked higher on Wall Street on Wednesday as the U.S. rate cut fever persisted near year’s end.
Indian Clearing Corporation imposes additional 15% exposure margin on securities
The operator of the Indian stock market, BSE, announced on Tuesday that securities subject to the market wide position limit (MWPL) will require an additional 15% exposure margin from its unit, Indian Clearing Corporation. The action was taken in response to growing retail involvement in the derivatives market, which has helped Indian benchmarks reach new all-time highs this month. The extra margin charge will take effect on January 1st and be applicable to derivatives where the top 10 brokerage clients make up over 20% of MWPL. The maximum quantity of open futures and options contracts for a stock that the exchange will permit is known as MWPL.
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