Stock markets register profit booking amid decline in crude oil prices - The Statesman

Markets witnessed profit booking on Tuesday, declining over a percent amid weak global trend. Technically, analysts say the lack of follow-through buying in the Nifty near the 100-day EMA hurdle placed at 24,150 reaffirms the cautious undertone and expiry-related positioning. The index is now approaching a crucial support zone in the 23,750–23,650 range, which coincides with the 20-day EMA and a recent gap area. In today's trade, shares of Vedanta , Honasa Consumer , IRCTC , Bajaj Auto , Infosys Indian equities experienced a sharp selloff on Tuesday, 23 June, with the Sensex and Nifty 50 declining by 1.16%. Market sentiment is expected to remain cautious due to US-Iran negotiations, global technology weakness, and Federal Reserve concerns. Vedanta, IRFC, and Yes Bank shares are noted as stocks in focus amid various corporate and government developments. Several stocks are likely to remain in focus on Wednesday following key corporate announcements and regulatory developments. Indian Railway Finance Corporation (IRFC) will be watched as the government launches a 2% stake sale through an offer for sale (OFS), while Tata Motors has unveiled a Rs 40,000-crore investment plan for the next five years. Other companies in the spotlight include Tata Power, Honasa Consumer, Tech Mahindra, Ola Electric, PFC, GTPL Hathway, Indian Hotels Company and Rajesh Exports. IRFC: Government Launches Most traded stocks today: The domestic market benchmark Nifty 50 opened in the negative but rebounded to trade with decent gains around noon on Wednesday, 24 June, as easing geopolitical risks and falling crude oil prices supported sentiment. The Nifty 50 rose to an intraday high of 23,978 during the session, with bank, financial services, and IT stocks witnessing healthy buying interest. According to Rajesh Palviya, the head of research at Axis Direct, a sustained move above 23,950 could trigger