Today, Cryptocurrency prices rose with the world’s largest and most popular digital token Bitcoin’s price today was trading more than 4% higher at $1,018.
The 30-share BSE Sensex gained 183.9 points to 62,865.74 points in early trade. The broader NSE Nifty advanced 61.5 points to 18,679.55 points.
The broader markets are also trading in the green, as Nifty Smallcap 100 and Nifty Midcap 100 are both up 0.3%. Sectorally, Nifty Metal is over 1% up, Nifty Auto is 0.8% higher while Nifty IT is trading 0.3% lower.
“We remain of the view that equities continue to squeeze higher into December but do see an increasingly challenging growth backdrop in 2023, assuming central bank policies remain restrictive,” wrote Marko Kolanovic, chief global markets strategist at J.P. Morgan in a note.
NSE has put Bhel, Delta Corp, Punjab National Bank, and Indiabulls Housing Finance stocks on the list of banned securities under the F&O segment for Wednesday trading as they have crossed 95% of the market wide position limit.
Rice stocks are in focus in Wednesday’s session as the government on Tuesday lifted the ban on the export of organic non-basmati rice, including broken rice.
The Directorate General of Foreign Trade (DGFT) in a notification has said that the export of organic non-basmati rice, including organic non-basmati broken rice, will now be governed by rules which were in place prior to the ban imposed in September.
“Rice stocks may see some buying interest as ban on broken rice export has been lifted by DGFT. But, neither rice exporters nor the Government of India can afford to continue with this export ban for long on other rice exporters. So, any dip in rice stocks from here should be seen as an opportunity for bottom-finishing. Stocks like KRBL, Kohinoor Foods, LT Foods are some of the top quality rice stocks that one can think of buying if they dip,” said Avinash Gorakshkar, Head of Research at Profitmart Securities.
In the Early September, The government had banned the export of broken rice with an aim to increase domestic availability.
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