5%, supported by broad-based buying. Analysts say Indian equities are likely to continue their gradual upmove in the near term as positive developments around a potential resolution of the war front improve sentiment.

Developments in West Asia, movements in Brent crude, foreign flows and global cues will remain key near-term drivers. STATE OF THE MARKETSTech View: On the derivatives front, strengthening PCR and Put writing at higher strikes indicate a gradual shift in the base.

Immediate support is placed at 23,300, while resistance remains at 23,650–23,700. For September, 23,000 continues to be a strong support, with the broader trading range expected between 23,000 and 23,800.

34 levels. US stocks fallUS shares fell and benchmark 10-year treasury yields climbed to their highest level since 2007 on Wednesday, after data showed US business activity racing to a more-than-five-year high in September, fueled by a surge in new orders.

Read more: Ahead of Market: 10 things that will decide stock market action on ThursdayStocks in F&O ban today1) SAIL2) Manappuram3) Kaynes4) LIC Housing FinanceSecurities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit. Read more: NSE IPO shares all set to list: GMP signals 2% listing gain ahead of market debutFII/DII actionForeign portfolio investors net bought shares worth Rs 1,617 crore on Wednesday.

DIIs, meanwhile, were net buyers at Rs 2,341 crore. 73 against the US dollar on Wednesday, weighed down by the broad strength of the American currency and a slight recovery in crude oil prices from lower levels.

Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication.

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