Market Outlook: Sensex-Nifty trades within a limited range

The Indian stock market opened flat on Wednesday, with the benchmark indices Sensex and Nifty trading within a limited range. However, in the last hour of trading, a selling spree pushed the indices to close at the day’s lowest levels.

Here are some of the top gainers and losers of the day:

Top Losers:
– Coal India
– Kotak Mahindra Bank
– Bharti Airtel
– SBI Life Insurance
– HDFC Life

Top Gainers:
– Apollo Hospitals Enterprise
– Divi’s Laboratories
– Bajaj Auto
– Tata Motors
– Asian Paints

The market’s performance was affected by the rising number of COVID-19 cases in India, which has led to a series of lockdowns and restrictions in several states. The ongoing vaccination drive and the possibility of a new stimulus package from the government are expected to provide some relief to the market.

Investors are also keeping an eye on the global market, where the US Federal Reserve’s decision to maintain its policy stance has helped calm the nerves of investors. The Fed has reiterated its commitment to keep interest rates low and continue its bond-buying program until the US economy recovers from the pandemic-induced slowdown.

Meanwhile, the Indian government has announced a new scheme for the textile industry, which aims to boost the sector’s exports and create new jobs. The scheme will offer production-linked incentives to textile manufacturers and help them become globally competitive.

In conclusion, the Indian stock market continues to face challenges due to the COVID-19 pandemic and the ensuing restrictions. However, investors remain optimistic about the long-term prospects of the market, which is expected to benefit from the country’s strong economic fundamentals and the government’s pro-growth policies.

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