Dear Trader…
As expected, Indian
shares rebounded on Tuesday to close higher, helped by auto, Industrials, CDGS
and Consumer Durables stocks, while a second surge in domestic corona virus
cases and fears over its impact on the economy capped gains. The pullback is
also supported by a strong rally happening in global markets.
Firm trade continued
over the Dalal Street in today session, with both Sensex and Nifty holding
strong gains, as bulls held their tight grip. Positive cues from other Asian
markets helped key indices to remain strong. Domestic sentiments were positive,
as the Union health ministry said that more than two crore COVID-19 vaccine
doses are still available with the states and Union territories, while nearly
three lakh doses are in the pipeline and will be received by them within the
next three days.
Nifty futures opened at
15080.30 points against the previous close of 14952.10 and opened at a low of
15072.20 points. Nifty Future closed with an average movement of 102.80 points
and a rise of around 198.90 points and 15151.00 points .. !!!
On the NSE, the midcap
100 index will rise 1.83% and smallcap 100 index is closing rise 1.59%. As far
as various sectoral indices are concerned, only FMCG, Pharma and PSU Bank
stocks were seen selling on the NSE, while all other sectoral indices closed
higher.
At the start of
intra-day trading, June gold opened at Rs.48419, fell from a high of Rs.48465
points to a low of Rs.48290, with a decline of 43 points, a trend of around
Rs.48431 and July Silver opened at Rs.73755, fell from a high of Rs.74099 points
to a low of Rs.73613, with a rise of 621 points, a trend of around Rs.73945..!!
Reserve Bank of India
(RBI) in its latest data has showed that India Inc’s foreign investment in the
first month of current fiscal (FY22) jumped by more than two-times year-on-year
to $2.51 billion. Indian investors had committed $1.21 billion worth of outward
foreign direct investment (OFDI) in April 2020.
The RBI data on OFDI for
the month of April 2021 showed that of the total commitment of $2.51 billion in
April this year by the Indian company owners, $1.75 billion was in the form of
loan, $421.42 million as equity capital and $333.11 million was chipped in
through issuance of guarantee. In March 2021, Indian firms made investment of
over 1.99 billion in their overseas ventures.
In anticipation of rapid
fall in covid cases, the implication of corporate results and favourable Asian
markets, the Indian market has reverted with a strongly after the 3 months of
muted performance. Global futures indices rose ahead of the release of the
Fed’s policy minutes, which is due on Wednesday, in anticipation of
accommodative outlook.
Technically, the important key resistances are placed at 15008 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 15272 – 15303 levels. Immediate support is placed at 14888 – 14808 levels.
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