- US equity markets settled higher in range 0.85% to 1.74%
- European equity markets also up in range 0.87% to 1.69%
- Asian equity markets are trading on a positive note
- GIFT Nifty is up by 11 points (as on 8:30AM), Nifty likely to open around 19427.
India's economy remained resilient in the first quarter of FY24 as domestic demand, government capex and a services-led recovery shielded the nation from tighter monetary and weak global conditions.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Nifty Overview & Outlook
The benchmark Nifty index ended on a positive note at 19342 levels, added 36 points to its previous closing values after a lackluster trading session.
The broader market outperformed the benchmark as Small-cap & Midcap index were up 0.54% and 0.33% respectively leading to flat market breadth.
Performance on the sectoral front was mix. Amongst them, Realty and Metal index were at the top of the tally, rose over 1.5% and 1% respectively followed by Auto and Media index that were up over 0.5% On the other hand, Nifty PSU Bank led the decline down, 0.5%.
Technically, Nifty index is trading in a range for past couple of sessions. Going ahead, we reiterate our short term sideways view on Nifty index till it is trading in 19250-19650 levels on a closing basis. Either side break and sustenance from the said range will open the doors for next directional move in that direction.
Derivatives Overview & Outlook
Yesterday, long builup was seen Nifty Future and Finnifty Future. Short covering was seen in Bank nifty Future.
On sectoral front short covering was seen in Capital goods, Cements, Infrastructure, Reality and Technology shares while fresh shorts was seen in Pharma and Telecom shares.
On options front, put writing and call writing both was seen at multiple strikes and maximum positions are at 19300 PE and 19500 CE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 62 Cr in the cash segment, bought stocks futures and index futures worth Rs 2543 Cr and Rs 559 Cr. DIIs were net buyers in the cash segment to the tune of Rs 305 Cr.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 19425-19500; Supports 19280-19200
Banknifty – Resistances 44780-44920; Supports 44280-44170
Finnifty – Resistances 19900-20010 Supports 19680-19620
F&O stocks in ban today: ESCORTS, GMRINFRA, HINDCOPPER, IBULHSGFIN, MANAPPURAM, RBLBANK, SUNTV
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