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Sensex and Nifty were slightly higher on Wednesday, driven by gains in auto and energy stocks. Notable gainers included M&M, Tata Motors, and Reliance Industries. NBCC gained over 8% as its Board is set to meet for potential bonus shares issuance.

Orient Electric Ltd., incorporated in the year 2016, is a Mid Cap company (having a market cap of Rs 5637.13 Crore) operating in Consumer Durables sector.

The Indian market is expected to consolidate on Wednesday with mixed global cues. Nifty futures fell 0.17% to 25,001. India VIX decreased to 13.70. Options data suggests a broader range of 24,600-25,500 and an immediate range of 24,800-25,300. Key support is at 24,900 and 24,800.

GMM Pfaudler shares surged by 8% to Rs 1,511 on the BSE due to a Rs 557 crore block deal. Approximately 41.2 lakh shares, representing 9.2% equity, were traded. The official parties involved in the large trade are not currently known. Over the past year, the company’s shares have dropped 4.5%, and by 7.2% year-to-date.

On Wednesday, stocks Balrampur Chini, Birlasoft, Hindustan Copper, and India Cements are under F&O trade ban. Stocks moving out include Aarti Industries and RBL Bank. Hindustan Copper and India Cements have open interest above 100%. Nifty index reached near its record high but closed flat amid global challenges.

The Nifty Index is displaying a positive trend, forming a Doji-like candle and poised near its all-time high of 25,073. It needs to hold above 25,000 for a potential move towards 25,250 while finding support at 24,800, according to Chandan Taparia of Motilal Oswal. A Bull Call Spread strategy is suggested for a bullish stance.

BOJ raised interest rates from 0.1% to 0.25% last month and indicated further hikes to take care of rising inflation. This created a fear of the unwinding of the JPY lead carry trade. The BOJ later allayed concerns indicating a more cautious approach to further rate increases.

This strategy allows us to remain invested and benefit from the long-term growth potential while being cautious and adaptive to the changing market dynamics.

The Indian primary market has seen a surge in interest for SME IPOs, with massive oversubscriptions. Data from Prime Database reveals that 152 SME IPOs this year averaged 200 times oversubscribed. While SEBI urges caution, the lure of robust listing gains and stock performance continues to draw investors.