NIFTY50 and SENSEX trade in range after taking support near its 200 DEMA levels, Eicher Motors, HDFC Life are among the top gainers

Indian equity benchmarks remained lower during early afternoon deals amid rising wholesale inflation data and negative cues from other Asian markets. Inflation based on the wholesale price index (WPI) in India jumped to 2.36% in October 2024 from 1.84% in September 2024 due to an increase in the prices of food articles, crude petroleum natural gas, and electricity.

Adding anxiety among traders, a WTO report said that the trade-restrictive measures introduced by G20 member countries from mid-October 2023 to mid-October 2024 increased. During the review period, G20 economies introduced 91 new trade-restrictive and 141 trade-facilitating measures on goods, both of which mostly dealt with imports.

The BSE Sensex is currently trading at 77508.01, (- 182.94 points or 0.24% after trading in a range of 77424.81 and 78055.52. Six stocks advanced on the index, while 24 stocks declined.

Chart check

On the daily charts, markets are attempting to take support at its key 200 DEMA levels which are considered to be significant over a longer period of time. The NIFTY50 currently traded 27 points lower at 23,544 levels, closer to its 200 DEMA of 23,539. While SENSEX traded 91 points lower at 77,597 levels, closer to its 200 DEMA of 77,392 at 14:18 pm.

Source: TradingView, Upstox.pro

The broader indices were trading in green; the BSE mid-cap index rose by 0.60%, while the small-cap index was up by 1.09%.

The NIFTY50 is currently trading at 23521.70, down 37.35 points or 0.16% after trading in a range of 23486.10 and 23675.90. The index had 14 stocks advancing and 36 stocks declining.

Asian markets were trading mostly in red; Hang Seng declined 427.93 points or 2.16% to 19,395.52, Jakarta Composite plunged 43.94 points or 0.6% to 7,264.73, Shanghai Composite weakened 62.7 points or 1.82% to 3,376.58, Nikkei 225 slipped 185.96 points or 0.48% to 38,535.70 and Taiwan Weighted lost 144.85 points or 0.64% to 22,715.38, while Straits Times rose 1.15 points or 0.03% to 3,721.49 and KOSPI increased 1.30 points or 0.05% to 2,418.38.