Dear
Trader…
Domestic equities opened positive but soon drifted into red
witnessing huge sell-off amid profit booking. Nifty future plunged 401 points
(-1.86%) to close at 21202 levels while Sensex fell 1053 points to close at
70370. Nifty Realty too fell 5.3% following weak results from Oberoi Realty.
PSU Banks, Railways, Power Utilities were some of the sectors which saw profit
booking after witnessing sharp run-up in the recent past.
Global sentiments turned cautious after Fitch Group statement
that South Asian economies would be most affected, amid rising hostilities in
the Red Sea due to Houthi attacks and India’s economic forecast faces a
significant risk on account of a prolonged spell of disruptions. Further BoJ
followed China and kept interest rates unchanged.
Now investors are awaiting US GDP data due late today along
with ECB rate decision due later this week. On the domestic front, this week is
a truncated week with just three trading days. Given weak global cues and mixed
set of earnings released so far, the market is likely to consolidate and may
drop a little further till the next set of fresh positive triggers.
Nifty
futures opened at 21760.20 points against the previous close of 21604.10 and
opened at a low of 21153.20 points. Nifty Future closed with an average
movement of 629.80 points and a decline of around 401.60 points and 21202.50
points…!!
On the NSE,
the midcap 100 index will decline 3.11% and smallcap 100 index is closing decline
2.87%. Speaking of various sectoral indices, the NSE saw gains in only Pharma stocks,
while all other sectoral indices closed lower.
At the start
of intra-day trading, February gold opened at Rs.61904, fell from a high of Rs.62224
points to a low of Rs.61811 with a rise of 107 points, a trend of around Rs.61975
and March Silver opened at Rs.70754, fell from a high of Rs.71190 points to a
low of Rs.70731.00 with a rise of 32 points, a trend of around Rs.70848.
Meanwhile, The
FIIs as per Tuesday’s data were net sellers in equity segment, while they were
net buyers in debt segment, according to data released by the NSDL. In equity
segment, the gross buying was of Rs 19475.54 crore against gross selling of Rs
23029.44 crore. Thus, FIIs stood as net sellers of Rs 3553.90 crore in
equities.
In the debt
segment, the gross purchase was of Rs 1917.03 crore with gross sales of Rs
1332.07 crore. Thus, FIIs stood as net buyers of Rs 584.96 crore in debt. In
the hybrid segment, the gross buying was of Rs 19.23 crore against gross
selling of Rs 17.56 crore. Thus, FIIs stood as net buyers of Rs 1.67 crore in
hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 21303 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 21373 – 21404 levels. Immediate support is placed at 21108 – 21008 levels.
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