Indian Equity Indices Rebound on Global Market Optimism; Banking, Auto, and IT Stocks Surge
Dear Trader…
The 30-share BSE benchmark Sensex surged 367 points or 0.56 per cent to settle at 66,527. The broader Nifty Future gained 93 points or 0.47 per cent to end at 19843. In the Sensex pack, NTPC and Power Grid were the top gainers, rising over 3 per cent each. Tech Mahindra, Tata Steel, TCS, Wipro, Maruti, JSW Steel, and Tata Motors also ended with gains. On the flip side, Bajaj Finance, Kotak Bank, HUL, ITC, and Bharti Airtel ended with cuts.
Sector-wise, Nifty Metal rose 1.77 per cent and Nifty IT gained 1.49 per cent. Nifty Bank and Nifty Auto also closed higher. In the broader market, Nifty Midcap100 gained 0.97 per cent, and Smallcap100 rose 0.88 per cent.
FII and FPIs, on Monday, saw a net sold of Rs. 701.17 crore in the cash segment. A total of Rs. 12,788.86 crore was sold against a total purchase of Rs. 12,087.69 crore. Domestic institutional investors saw a net purchase of Rs. 2488.07 crore in the cash segment. A total of Rs. 6748.81 crore was sold against a total purchase of Rs. 9236.88 crore.
Meanwhile, Indian indices have resumed their rally, following the global market trend, as cooling inflation across the globe gave hopes of an end to the policy-tightening era.
Technically, the important key resistances are placed in July Nifty future are at 19843 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 19909 - 19939 levels. Immediate support is placed at 19808 - 19737 levels.
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