New Delhi2 days ago
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- The 50-share Nifty of the NSE remained at 14,653, the 30-share Sensex closed at 48,944.
- Metal and financial stocks supported the market, all sectors index closed strongly
The stock market overcame concerns about a sharp jump in the case of Kovid. The important benchmark indices of the stock exchanges closed strongly for the second consecutive day on Tuesday. Like Monday, metal and financial stocks also supported the market. More or less all sector indices closed strongly.
Fake purchases in shares of state-run banks
The 50-share Nifty of the NSE jumped 168.05 points, or 1.16%, to 14,653. Similarly, the 30-share Sensex of the BSE also gained 557.63 points, or 1.15%, to close at 48,944. The domestic stock market got the support of fierce buying in shares of public sector banks.
Nifty may remain between 14,400 and 14,880
According to Chandan Tapadia, Vice President and Derivatives Analyst, Motilal Oswal Financial Services, the market was dominated by all-day fast deals. All-round buying strengthened the index and the Nifty closed near the day’s high with a gain of about 170 points. The futures market deals indicate it to be between 14,400 and 14,880.
The stock market was opened with an increase
The second trading day of the week opened with the stock market rising. The Sensex had started 37.57 points and the Nifty 8.8 points up. On Monday also the domestic stock market closed with an increase. The Sensex was up 508.06 points at 48,386.51, the Nifty closed up 143.65 points at 14,485.00.
Market is getting support from short covering
According to market experts, the market is getting support this week in futures market deals due to the short covering before expiry. When people settle futures deals by buying back borrowed and sold shares in anticipation of recession, it is called short covering.
Strong buying in small and medium stocks as well
The sell-off in the shares of Maruti and HDFC Life today was due to lower than expected profit and earnings in the March quarter. What is encouraging for the stock market is that investors have also bought heavily in small and medium stocks.
The top Nifty stocks that closed strongly on Tuesday were Hindalco, L&T, Tata Steel and RIL. Stocks of HDFC Life, SBI Life, Kotak Bank and Maruti disappointed investors and fell victim to selling.
Important stock index of BSE
The BSE Sensex ranks were Tech Mahindra, Bajaj Finance, Reliance Industries, Power Grid, HDFC Bank, TCS. Among the heavyweights who lost the index gains were Axis Bank, Kotak Bank, Asian Paints, HDFC, Maruti Suzuki.
Stock market is supported by metal shares
BSE Metal Index
There is a fast trend in the market in terms of pattern
If you look at the technical analyst’s perspective, the market has a candlestick pattern with a fast trend on the daily chart. In this, the pattern of Higher High and Higher Low is being formed for the last three days. If the Nifty stays above 14,600, then in the coming time, it can be seen moving towards 14800-14880. There can be buying support between 14,500 and 14,400 if selling pressure is created.
Banking shares can also remain strong
If you talk about the Bank Nifty, then there is a fast trend on the daily chart. The pattern of higher highs has been taking place for the last five trading sessions. It remains above 32,500 and is expected to remain in the range of 33,000 to 33,333. In the event of a fall, support between 32,150 and 32,000 can be formed.
Today’s financial results
Today, the financial results of shares of some big companies have also come. These include ABB, Axis Bank, Bajaj Finance, Britannia, Hatsun, HDFC AMC, Hindustan Zinc, Maruti Suzuki, PNB Housing, Symphony, Syngene, TVS Motor, United Breweries and VST Industries.
Today, the IPO subscription of Kuberan Global Edu Solutions is ending. The company is offering 10 face value shares for 20 rupees. Started in 2013, the company prepares other competitive exams in addition to the admission test in several professional courses. It provides online services.
Cold start of European market
According to Indian time, there was a trend of weakness in the European market at five o’clock in the evening. Investors are eyeing the results of a two-day meeting of the US Fed Reserve starting today.
Asian markets remain flat
US market fluctuations
US markets closed on Monday with highs and lows. The Dow Jones was down 61.92 points to close at 33,981.60, down 0.18%. The Nasdaq gained 0.87% to close at 12,97 points at 14,138.80. The S&P 500 index also closed up 9.13 points at 4,189.30.
FII and DII data
According to provisional data on the NSE, on Monday, the first trading day of the week, on April 26, foreign institutional investors (FIIs) bought shares worth a net of Rs 1,111.89 crore and domestic institutional investors (DIIs) bought shares worth Rs 1,022.57 crore.