Indian markets rose in the last hour on Aug 26 after remaining flat for the better part of the day. The Nifty rose for the 4th straight session and closed 0.67% or 77.3 points higher at 11549.6.
Volumes on the NSE were in line with recent average with Auto stocks (on hopes of GST cut on two wheelers), Banks and Media stocks doing well while Pharma and FMCG stocks were dull. Midcap and smallcap indices rose for the 8th consecutive session - the longest such streak since Jan 2020.
Individual stocks reacted to results and individual developments.
European stocks inched higher on Wednesday as hopes of additional stimulus for Germany and France outweighed worries about rising cases of COVID-19 across the continent.
Tomorrow is the monthly F&O expiry day. Though index volatility has been limited in the past month, stock specific moves have been large and hence we could see some sharp moves in select stocks on squaring up/rolling over of positions. Tomorrow is also the much anticipated speech by the chairman of the U.S. Federal Reserve.
Nifty continues its upmove. Largecaps continue to perform (led by financials) and select mid and smallcaps are also doing well.