Dear
Trader…
Nifty future ended with gains for the second consecutive day,
rising by 0.80% to close at 22,620 level. Market optimism was driven by
positive global cues as US President Donald Trump exempted auto manufacturing
companies from 25% tariffs on Canada and Mexico for one month, easing trade
tensions to some extent. On the domestic front, RBI announced Rs 1,00,000 crore
OMO purchases and USD/INR Buy/Sell Swap auction of $ 10 billion in March to
infuse liquidity into the banking system, which was cheered by the market.
There was continued buying interest in the broader market
with Nifty Midcap100 and Smallcap100 gaining 0.4% and 1.3% respectively. All
sectoral indices ended in the positive territory, with oil & gas and metal
indices up over 2% and pharma, healthcare and FMCG indices up over 1% each.
Crude sensitive stocks surged as oil prices slip to six-month low.
Metal stocks recorded significant gains as investors remained
optimistic over China’s stimulus package and decline in US dollar. Investors to watch out for ECB interest rate
decision today and US unemployment rate and Fed Chair Powell’s commentary
tomorrow. We expect the market to remain stable over the next few days and
track developments on the global front.
Nifty futures opened at 22541 points against the previous
close of 22441 and opened at a low of 22359 points. Nifty Future closed with an
average movement of 279 points and a rise of around 179 points and 22620 points…!!
On the NSE, the midcap 100 index will rise 0.37 % and smallcap 100 index is closing rise
1.32%. Speaking of various sectoral indices only Realty
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.86077,
fell from a high of Rs.86145 points to a low of Rs.85372 with a decline of 163 points,
a trend of around Rs.85670 and May Silver opened at Rs.97961, fell from a high
of Rs.98129 points to a low of Rs.97315 with a rise of 125 points, a trend of
around Rs.97667.
Meanwhile, The
FIIs as per Thursday’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 15423.06 crore against gross selling of Rs
17312.54 crore. Thus, FIIs stood as net sellers of Rs 1889.48 crore in
equities.
In the debt
segment, the gross purchase was of Rs 2681.03 crore with gross sales of Rs
1261.63 crore. Thus, FIIs stood as net buyers of Rs 1419.40 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
832.55 crore, they stood at net buyers in Debt-VRR segment at Rs 74.65 crore,
while net buyers in Debt-FAR segment at Rs 512.20 crore.
In the
hybrid segment, the gross buying was of Rs 45.67 crore against gross selling of
Rs 23.33 crore. Thus, FIIs stood as net buyers of Rs 22.34 crore in hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 22676 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 22707 – 22737 levels. Immediate support is placed at 22474 – 22303 levels.
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