Dear
Trader…
The 30-share BSE benchmark Sensex surged 75
points or 0.12% to settle at 60,130. The broader NSE Nifty rose 26 points or
0.15% to end at 17,776.From the Sensex pack, Bajaj Finance and Bajaj
Finserv were the top gainers, rising over 2%. IndusInd Bank, Bharti Airtel,
SBI, ICICI Bank, and Reliance also closed higher. On the other hand, HDFC Bank,
HDFC, Tech Mahindra, Sun Pharma, and Axis Bank ended with cuts.
Shares of Ipca Labs closed over 10% lower
after the company approved entering into a definitive share purchase agreement
for the acquisition of a 33.38% stake of Unichem Laboratories for Rs 1034.06
crores. Rail Vikas Nigam stock closed over 19% higher, while Titagarh Wagons
closed nearly 3% higher.
On the sectoral front, Nifty PSU Bank rose
1.31% and Nifty Metal gained 0.61%. Banks, auto, FMCG, metal, realty, and oil
& gas sectors also closed higher. In the broader market, Nifty Midcap 100
dropped 0.09%, while Smallcap 100 advanced 0.51%.
Global Markets –
Asian stocks were
mixed Tuesday after Wall Street edged higher as investors awaited US earnings
reports and an update on economic growth. The Shanghai Composite Index lost
0.7% to 3,251 while the Nikkei 225 in Tokyo advanced less than 0.1% to 28,620.
The Hang Seng in Hong Kong sank 1.9% to 19,578.
European shares fell
on Tuesday, as investors scrutinised more corporate earnings and weighed
comments by European Central Bank policymakers on the outlook for interest
rates. The pan-European STOXX 600 index was down 0.3%.
Currency Watch – The Indian rupee ended little changed today with traders
waiting for fresh cues before making substantial bets, while Asian peers
remained weak. The rupee finished at 81.9125 per dollar, compared with 81.9050
in the previous session.
Crude oil rises – Oil edged higher on Tuesday, on track for a third day of
gains, supported by investor optimism that holiday travel in China would boost
fuel demand and by expectations US inventories would show a drop in crude
stocks. Brent crude rose 10 cents to $82.83 a barrel, while US West
Texas Intermediate crude gained 15 cents to $78.91. Both contracts rose over 1%
on Monday.
Nifty futures opened at 17776.10 points
against the previous close of 17763.90 and opened at a low of 17732.30 points.
Nifty Future closed with an average movement of 90.04 points and a rise
of around 18.40 points and 17776.00 points…!!
On
the NSE, the midcap 100 index will down 0.09% and small cap 100 index is
closing up 0.51%.
At
the start of intra-day trading, JUNE gold opened at Rs.60033 fell from a high
of Rs.60217 points to a low of Rs.59751 with a decline of 187 points, a trend
of around Rs.59814 and MAY Silver opened at Rs.74901, fell from a high of Rs.75000
points to a low of Rs.73300 with a decline of 1482 points, a trend of around
Rs.73514.
Meanwhile, The domestic market succeeded in holding
the gains, though multiple attempts were made by bears to reverse the trend
considering the weak global market.
Investors are highly nervous as they await
the release of US GDP and PCE inflation data, which will guide the upcoming Fed
action.The Fed is expected to raise their rates by another 25 bps in its
announcement on 3rd May.
Technically,
the important key resistances are placed in Nifty future are at 17776 levels, which
could offer for the market on the higher side. Sustainability above this zone
would signal opens the door for a directional up move with immediate resistances
seen at 17707 – 17606 levels. Immediate support is placed at 17880 – 17909 levels.
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