Dear
Trader…
Indian equities ended with strong gains, recovering some of
the losses from the previous trading session. Nifty future rallied 1.65% to
close at 22,630 level, tracking gains in the Asian markets following a recovery
in US equities. Broader market reflected positive investor sentiments as Nifty
Midcap100 and Smallcap100 indices gained over 2% each. Amongst sectoral
indices, Financial services was the top gainer, rising over 3% on optimism over
RBI policy outcome tomorrow. The PSU bank index also added 2.6% as the RBI is
expected to cut interest rates by 25 basis points.
Additionally, the decline in the 10-year bond yield to a
two-year low, coupled with strong quarterly business updates from some of the
PSU banks should augur well for these stocks. Shares of oil marketing companies
(OMCs) surged, lifted by the government’s decision to raise the price of
household LPG by INR 50. The OMCs are expected to recover around Rs9,000 crore
in FY26 through this hike which will partially offset their ongoing losses.
Jewellery sector stocks gained after strong Q4 business updates, fuelled by
strong wedding demand and rising gold prices.
Nifty futures opened at 22511 points against the previous
close of 22263 and opened at a low of 22341 points. Nifty Future closed with an
average movement of 403 points and a rise of around 366 points and 22630 points…!!
On the NSE, the midcap 100 index will rise 2.11% and smallcap 100 index is closing rise
2.13%. Speaking of various sectoral indices, Media, Consumer
Durables, PSU Bank, Realty and Pharma stocks saw heavy gains on the NSE, while
all other sectoral indices also closed higher.
At the start of intra-day trading, April gold opened at Rs.87559,
fell from a high of Rs.88444 points to a low of Rs.87353 with a rise of 1194 points,
a trend of around Rs.88122 and May Silver opened at Rs.88898, fell from a high
of Rs.90150 points to a low of Rs.88799 with a rise of 1545 points, a trend of
around Rs.89793.
Meanwhile, Market is expected to remain volatile until things become
clearer on US tariff front, while stock specific action would continue on the
back upcoming Q4 earnings and management guidance. We suggest investors to
avoid globally exposed sectors like IT, pharma, metals and rather focus on
domestic economy-linked stocks as they are likely to offer relative stability
in the current uncertain environment.
Technically, the important key resistances are placed in Nifty future are at 22686 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 22737 – 22808 levels. Immediate support is placed at 22303 – 22180 levels.
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