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Promoters held 79.86 per cent stake in the company as of 30-Jun-2023, while FIIs owned 4.0 per cent, DIIs 11.57 per cent.

From the Sensex pack, HCL Tech, ICICI Bank, HDFC Bank, UltraTech Cement and Nestle opened with cuts, while only Sun Pharma, SBI, Bajaj Finance, and NTPC opened with gains.

The MWPL for Hindustan Copper stood at 96.3% on Wednesday with OI reported by Trendlyne at 30.1 million. It was down 0.9% from the previous session. The MWPL for Delta Corp stood at 95.5% on Wednesday with OI reported by Trendlyne at 13.9 million. It was down 4.3% from the previous session.

"The largest emerging market which is China, is having a very poor year. And so out with China, we have seen a little bit of strength in some of the largecap tech stocks in Taiwan and Korea. India has proved to be a bit more resilient. But it is not a strong environment for emerging markets and because China is doing poorly, when I speak to emerging market fund managers, they are trying hard not to have redemptions."

Rajesh Palviya, Senior Vice President, Technical and Derivatives Research at Axis Securities said that with the festival season in place, the market is expecting a good topline and bottom line growth from the jewellery stocks.

Nifty dipping below its previous swing high on the daily chart is indicative of a decline in bullish sentiments and the index experienced a correction following a period of consolidation, Rupak De, Senior Technical analyst at LKP Securities said adding that this could be considered as an early indication of a bearish reversal.

India VIX was up by 2.70% from 10.83 to 11.13 levels on Wednesday. Volatility was on the rise and comforted the bears to hit for a profit booking decline.