Dear
Trader…
The NSE Nifty future gained 48.85 points or 0.22% to settle
at 22,420.00, while the BSE Sensex jumped 114.48 points or 0.16% to 73,852.94. Bank
Nifty index ended higher by 198.35 points or 0.41% to settle at 48,190.
On the NSE, the midcap 100 index will rise 0.76% and small
cap 100 index is closing rise 0.36%.The broader indices ended in mixed territory, with gain led by
Mid-cap and Small-cap stocks. Metal and Realty stocks outperformed among the
other sectoral indices while IT and Media stocks shed.Hindalco Industries, Cipla, JSW Steel, Tata Steel, and Power Grid
Corp were the top gainers on the NSE Nifty 50, while the laggards includes Tata
Consumers Products, Grasim, Bajaj Auto, Tech Mahindra, and HDF Life Insurance.
Nifty futures opened at 22440.00 points against the previous
close of 22371.05 and opened at a low of 22382.00 points. Nifty Future closed
with an average movement of 106.00 points and a rise of around 48.95 points and
22420.00 points…!!
At the start of intra-day trading, June gold opened at Rs.71473,
fell from a high of Rs.71473 points to a low of Rs.71109 with a decline of 23.00
points, a trend of around Rs.71109 and May Silver opened at Rs.84857, fell from
a high of Rs.84857 points to a low of Rs.84640 with a decline of 1873 points, a
trend of around Rs.84640.
Meanwhile, Indian markets lagged the Asian peers as Q4
earnings remained largely subdued with weak results from IT and a few index
heavyweights results also disappointed. However, buoyed by strong manufacturing
and service sectors.the Indian composite PMI hit a multi-year high, reflecting
domestic resilience bringing some buoyancy in the broad market. Globally,
investor sentiment improved with easing tensions in the Middle East and
declining oil prices.
The FIIs as
per Wednesday’s data were net sellers in both equity and debt segments : In
equity segment, the gross buying was of Rs 15040.45 crore against gross selling
of Rs 18498.57 crore. Thus, FIIs stood as net sellers of Rs 3458.12 crore in
equities.
In the debt
segment, the gross purchase was of Rs 753.47 crore with gross sales of Rs
2629.00 crore. Thus, FIIs stood as net sellers of Rs 1875.53 crore in debt.In
the hybrid segment, the gross buying was of Rs 54.44 crore against gross
selling of Rs 51.79 crore. Thus, FIIs stood as net buyers of Rs 2.65 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22420 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 22474 – 22606 levels. Immediate support is placed at 22373 –
22303 levels.
Past Performance is not an Indicator of Future Returns. The
securities quoted are for illustration only and are not recommendatory.
Investment in securities market are subject to market risks. Read Disclaimer
and related all the documents carefully before investing, mentioned on www.nikhilbhatt.in
