Indian indices traded low amid global cues

The domestic share market indices traded lower on Wednesday, weighed down by unfavorable global cues,with the Nifty slipping below 25,200, ending its 14-day rally ,amid selling across the sectors barring realty, FMCG, and pharma.At close, the Sensex was down 202.80 points or 0.25 percent at 82,352.64, and the Nifty was down 81.15 points or 0.32 percent at 25,198.70.
Indian benchmark indices have been under pressure since the open, following weak US economic data that sparked a massive global sell-off. The broader market showed a mixed trend, with the midcap index down 0.5 percent, while the smallcap index edged up 0.2 percent. Later today, markets will closely monitor the release of US job openings data. The jobless claims report, on September 5, will also be closely monitored. The US payrolls report, due to be released on September 6, is also awaited as it will impact the Federal Reserve's decision on the magnitude of an interest rate cut.
Asian Paints, Grasim Industries, HUL, Apollo Hospitals and Sun Pharma were the top gainers on the Nifty, while losers included Wipro, Coal India, ONGC, Hindalco Industries and M&M.On the sectoral front, FMCG, realty and pharma gained 0.5 percent each, while auto, bank, energy, IT, metal were down 0.4-1 percent.BSE Midcap index ended marginally lower, while Smallcap index ended in the green.
Rupee Close:
On 4 Sep'24,the Indian  rupee fell 4 paise to close at 84.02 on Wednesday amid a sharp decline in the domestic equity markets as investors stayed away from riskier assets. However, a weak dollar against major currencies overseas and a drop in crude oil prices capped further losses in the local unit, forex traders reportedly stated.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the warning signals from weak US manufacturing data added concerns about a potential slowdown in the US economy, which dragged the domestic indices. Further, a sluggish Chinese outlook exacerbated the decline in oil price to a nine-month low. Due to a lack of major domestic triggers, the indices will take direction based on global cues.
Market experts have recommended five shares to buy-Kajaria Ceramics, ICICI Bank, Zomato, JK Lakshmi Cement, and Finolex Cables.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)