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Indian benchmark indices Sensex and Nifty extended their winning streak to a fifth session Wednesday, lifted by IT shares, as investors looked ahead to the Federal Reserve’s Jackson Hole symposium later this week.

On Tuesday, the Nifty index showed positive movement around 24,900, approaching the 25,000 mark but facing resistance. Despite intraday declines, support-based buying helped the index recover. Chandan Taparia suggests a Bull Call Spread strategy, anticipating a range-bound market between 24,700 and 25,200, to capitalize on potential gains from market volatility.

The Indian rupee slipped on Wednesday, as corporate hedging and short-term speculators bolstered demand for the greenback, most of which was met by dollar sales by foreign banks.

The Indian rupee weakened slightly against the US dollar in early trading. Investors are cautious, awaiting potential Russia-Ukraine talks and a speech from US Federal Reserve Chief Jerome Powell. Weak Asian markets and domestic equities also contributed to the rupee s decline. Brent crude prices edged higher, while Indian stock indices experienced early losses.

Gold prices experienced a slight increase to $3,318.07 per ounce, after hitting a near three-week low, as investors await insights from the Federal Reserve s Jackson Hole symposium. The dollar s strength is impacting gold affordability, while attention is focused on Jerome Powell s upcoming speech for monetary policy clues. Geopolitical developments, including potential U.S.

Corporate hospitals are growing in big and smaller cities. Diagnostics is consolidating with stringent quality norms. Pharma faces US market challenges but is steady elsewhere. Cotton import duty suspension is unlikely to boost textile exports significantly. Textile margins are thin, and US consumer demand may weaken. Rising inflation and tariff issues pose challenges for the Indian textile sector.

Kotak Mahindra Asset Management s Shibani Sircar Kurian highlights the Indian market s potential, driven by domestic sectors. Policy support, including tax and rate cuts, aims to stimulate consumption, while favorable monsoons and rising rural demand are positive indicators. Automobiles and fertilizers are sectors poised for growth, further boosted by China s lifted export restrictions.