Dear
Trader…
After consolidating for the last two trading sessions, Nifty
future resumed its uptrend to close with gains of 96 points at 23,777(+0.41%).
Strong buying across heavyweight financial stocks extended support to the key
indices. The global market trend was weak, following US President’s
announcement of a 25% tariff on foreign-built cars and light trucks from 2nd
April. Auto and auto ancillary stocks were under selling pressure, following
the announcement; pushing Nifty Auto Index down by 1%.The broader market
sentiment remained resilient on the back of continued buying interest.
The PSU Bank index was the top gainer, rising by 2.6% after
the Banking Laws (Amendment) Bill was passed in the Parliament yesterday.
Investors await further details on the US tariff measures and the broader
economic outlook ahead of President Trump’s deadline. Markets will track the US
Q4 GDP data to be released later today and the US CPI for February to be
released tomorrow. We expect the market to consolidate with a positive bias,
tracking outcome of the ongoing US-India trade meet and developments on the
global front.
Nifty futures opened at 23650 points against the previous
close of 23681 and opened at a low of 23575 points. Nifty Future closed with an
average movement of 237 points and a rise of around 96 points and 23777 points…!!
On the NSE, the midcap 100 index will rise 0.37% and smallcap 100 index is closing rise
1.15%. Speaking of various sectoral indices only Auto,
Pharma and Healthcare stocks were seen selling on the NSE, while all other
sectoral indices closed higher.
At the start of intra-day trading, April gold opened at Rs.87785,
fell from a high of Rs.88478 points to a low of Rs.87785 with a rise of 741 points,
a trend of around Rs.88379 and May Silver opened at Rs.99744, fell from a high
of Rs.100774 points to a low of Rs.99480 with a rise of 1101 points, a trend of
around Rs.100587.
Meanwhile, The FIIs as per Thursday’s data were net buyers in equity
segment, while they were net sellers in debt segment, according to data
released by the NSDL. In equity segment, the gross buying was of Rs 14453.03
crore against gross selling of Rs 11995.12 crore. Thus, FIIs stood as net
buyers of Rs 2457.91 crore in equities.
In the debt segment, the gross purchase was of Rs 4739.57
crore with gross sales of Rs 6687.67 crore. Thus, FIIs stood as net sellers of
Rs 1948.10 crore in debt. Of the total debt, FIIs stood as net sellers in
Debt-General Limit segment at Rs 1060.45 crore, they stood at net sellers in
Debt-VRR segment at Rs 605.45 crore, while net sellers in Debt-FAR segment at
Rs 282.20 crore.
In the hybrid segment, the gross buying was of Rs 22.85 crore
against gross selling of Rs 18.39 crore. Thus, FIIs stood as net buyers of Rs
4.46 crore in hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 23808 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 23880 – 23939 levels. Immediate support is placed at 23676 – 23606 levels.
Investment in securities market are subject to market risks. Read Disclaimer and related all the documents carefully before investing, mentioned on www.nikhilbhatt.in
