Dear
Trader…
The BSE benchmark Sensex gained 584 points or 0.72% to settle
at 81,634. The broader NSE Nifty future advanced 146 points or 0.58% to end at
25,131.
HDFC Bank and Reliance Industries alone contributed 370
points to the rally in the benchmark Sensex, with M&M, L&T, Infosys,
and Adani Ports also making significant contributions.
Barring the Nifty Metal index, all major sectoral indices
closed higher. The broader, more domestically focused small- and mid-cap
indices each gained over 2%.
Additionally, market sentiment was also buoyed as the BJP
appeared poised for a third consecutive victory in Haryana with a simple majority.
Meanwhile, the market capitalisation of all listed companies
on BSE surged by Rs 7.8 lakh crore to Rs 459.78 lakh crore.
the RBI on Wednesday, along with the upcoming corporate
earnings season later this week, will be key factors likely to influence market
movements in the near term.
The market breadth was skewed in the favour of the bulls.
About 3,021 stocks gained, 924 declined, and 100 remained unchanged on the BSE.
Global
Markets – A lack of details on China’s
long-awaited fiscal stimulus caused a rally in Chinese shares to fizzle on
Tuesday, sending Hong Kong stocks tumbling and dragging down European companies
and oil prices.
Hong Kong’s Hang Seng Index slumped 9.4%, giving up some of
the big gains it made during the Chinese holiday, in a sign of profit-taking
and waning investor patience.
European shares fell, with China-sensitive mining and luxury
companies among the biggest losers. The continent-wide Stoxx 600 index was down
0.9%, while Germany’s DAX was 0.8% lower and Britain’s FTSE 100 fell 1.3%.
Crude
Oil – A rally in oil prices took a break on Tuesday as
the market waits for Israel’s response to last week’s Iranian rocket attacks
that triggered a price surge on concerns of a broader conflict in the Middle
East.
Both benchmark contracts rose more than 3% on
Monday to their highest since late August, adding to last week’s rally of 8%,
the biggest weekly gain in over a year, on concerns that hostilities could
disrupt oil supplies from the Middle East.
Brent crude futures were down $1.62, or 2%, to $79.31 per
barrel. U.S. West Texas Intermediate futures were down $1.60, or 2.07%, to
$75.54 a barrel. Brent surpassed $80 per barrel for the first time since August
on Monday.
Rupee
Ends Flat – The Indian rupee ended nearly unchanged on
Tuesday as the central bank’s steps to support the currency helped offset a
host of negative cues such as a rise in U.S. bond yields, elevated oil prices
and outflows from local equities. The rupee closed at 83.9625 against the U.S.
dollar, nearly unchanged from its close at 83.9775 in the previous session.
Nifty futures opened at 24983 points against the previous
close of 24985 and opened at a low 24928 points. Nifty Future closed with an
average movement of 275 points and rise of around 146 points and closed 25131 points…!!
Meanwhile,
RBI policy outcome, though no cut is expected, a
plausible change in stance to neutral is anticipated. And investors are likely
to focus on the upcoming Q2 results where earnings are likely to improve
marginally on a QoQ basis.
At the start of intra-day trading, October gold opened at Rs.76393
fell from a high of Rs.76609 points to a low of Rs.76002 with a decline of 12 points,
a trend of around Rs.76550 and December Silver opened at Rs.92223, fell from a
high of Rs.92223 points to a low of Rs.90360 with a decline of 1271 points, a
trend of around Rs.91090.
Technically, the
important key resistances are placed in Nifty future are at 25131 levels, which
could offer for the market on the higher side. stainability above this zone
would signal opens the door for a directional up move with immediate
resistances seen at 25188 – 25272 levels. Immediate support is placed at 25008 –
24808 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
