FIRST TRADE: Indices edge higher; Sensex up over 200 pts, Nifty near 24,950

Stock market today: Domestic benchmark indices Sensex and Nifty began the session in the positive territory. Last seen, Sensex was up 118.79 points or 0.15 per cent at 81,574.19 and Nifty rose 40.45 points or 0.16 per cent at 24,897.75. Investors await the Federal Reserve's rate decision and commentary due later in the day.

"SEBI’s crackdown on F&O trade is eminently desirable and can go a long way towards making the ongoing rally healthy and less speculative. The irrational exuberance of the retail investors, particularly the newbies who entered the market after the Covid crash, will do more harm than good to the overall market in the long run. Therefore, these regulatory measures are to be welcomed," said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Dr. V K Vijayakumar added the global cues are likely to be supportive on expectations of a rate cut from the Fed in September. The Fed commentary expected tonight is likely to indicate the possibility of rate cut in September.

Further, as per him, it is time for investors to take a long-term call on the market and moderate their expectations to realistic levels. At this juncture in the market, safety is important. Chasing super-normal returns from the broader market would be a risky game.

In the broader market, Nifty Midcap 100 traded in the green, while Smallcap 100 traded in the red. Last seen, high-beta Nifty Bank was flat with a positive bias at 51,535.05.

BUZZING STOCKS

Dixon Tech shares were up over 4 per cent after the company reported strong Q1 results.

GAIL (India) shares were up over 4 per cent after the company posted strong Q1 results. 

Zaggle Prepaid Ocean Services shares were up over 2 per cent after the company posted strong Q1 results.

MOIL shares were up over 2 per cent after the company posted good Q1 numbers. 

Torrent Power shares were up over 4 per cent after the company posted good Q1 results. 

Tanla Platforms Ltd shares were up over 3 per cent after USPTO approved two patents of Tanla Digital Lab.

Conversely, Tata Consumer Products shares were down over 1 per cent after the company reported mixed Q1 numbers.

Navin Fluorine shares were down over 2 per cent after the company posted weak results. 

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