Dear Trader…
The benchmark BSE
Sensex added 70.01 points or 0.09% to close at 80,288, while the broader Nifty Future
index closed at 24425, higher by 7.45 points or 0.03%.The market capitalization
of all listed companies on the BSE decreased by Rs 69,285 crore to Rs 426.11
lakh crore.
U.S.
Treasury Secretary Scott Bessent said a trade deal with India could be signed
as early as this week or next. Indian officials also noted “positive progress”
in bilateral negotiations on Tuesday.
Global Markets – The
S&P 500 and Dow closed higher on Monday after a volatile session, while
gold rose as investors awaited progress on tariff talks amidst a busy week of
corporate earnings and economic data. European stocks gained, buoyed by
optimism over easing U.S.-China trade tensions.
MSCI’s global stock
index climbed 0.41% to 828.09. The pan-European STOXX 600 index gained 0.53%,
and the FTSEurofirst 300 rose 0.49%.
Emerging market
stocks gained 0.58%, with MSCI’s Asia-Pacific index outside Japan up 0.62%.
Japan’s Nikkei rose 0.38%, adding 134.25 points to 35,839.99.
U.S. Treasury yields
fell ahead of key earnings and data releases, with the 10-year yield dropping
5.6 basis points to 4.21%.
The dollar index
fell 0.8% to 98.93, while the euro rose 0.51% to $1.1422. Gold prices gained
amid a weaker dollar, with spot gold rising 0.98% to $3,350.59 an ounce, and
U.S. gold futures up 0.06% to $3,284.50 an ounce.
FII/DII Tracker – Foreign
institutional investors (FIIs) purchased equities worth Rs 2,474 crore on April
28, extending their buying streak to nine consecutive sessions and turning net
buyers for the month. Meanwhile, domestic institutional investors (DIIs)
maintained their buying momentum for the second straight day, acquiring stocks
worth Rs 2,817 crore.
Nifty futures opened
at 24484 points against the previous close of 24452 and opened at a low of 24396
points. Nifty Future closed with an average movement of 171 points and a
Decline of around 27 points and 24425 points…!!
Currency Watch – The
Indian rupee saw sharp swings on Tuesday before closing lower, as escalating
concerns over India-Pakistan tensions dominated market sentiment and pushed
near-term implied volatility to a more than two-year high. The currency briefly
touched a year-to-date high of 84.95 against the U.S. dollar before retreating
to a low of 85.3875, ultimately ending 0.3% weaker at 85.2625.
Meanwhile, the
dollar index, which measures the greenback’s strength against a basket of six
currencies, rose 0.16% to 99.17.
Crude Impact – Crude
oil prices declined on Tuesday as the ongoing U.S.-China trade war dampened
demand growth expectations in the world’s two largest economies. Brent crude
futures dropped 59 cents, or 0.9%, to $65.27 per barrel by 08:24 GMT.
Meanwhile, The
national market exhibited largely range-bound oscillation, as caution prevailed
amid geopolitical concerns over border tensions, that the sustained inflows
from FIIs provided support to market sentiment and restricted further
pessimism.
Technically, the
important key resistances are placed in Nifty future are at 24425 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 24474 – 24575 levels. Immediate support
is placed at 24303 – 23180 levels.
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