GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lacklustre opening on Tuesday. Here is all you need to know before the market opens.
GIFT Nifty traded up by just 8.50 points or 0.04% at 22,180 indicating a lacklustre opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 ended up by 81.55 points or 0.37% to settle at 22,122.25, while the BSE Sensex gained by 281.52 points or 0.39% to 72,708.16.
“Domestic Equities attained new highs with Nifty touching fresh levels of 22186.65 levels before closing with gains of 81 points at 22122. The midcap and smallcap indices surged in line with the benchmark. Majority of the sectors ended in the green. Consumer Durables, Pharma, and FMCG were top gainers today, while Realty, PSU Bank, and IT were laggards,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Will Nifty scale to 25,000 and end the week with gains? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Will Nifty trade above 24,800, or will it experience profit booking? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Are Nifty bulls ready to reclaim the 25,000 mark? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Will Nifty scale up to 24,500, or will it face further decline? See GIFT Nifty, FII data, F&O ban, crude, more before market opens
Also Read
Stocks To watch: Kotak Mahindra Bank, Mazagon Dock, Torrent Power, ONGC, Godrej Consumer, LTI Mindtree, Vibhor Steel Tubes
Khemka also added that, The US equity market remains closed today on account of President’s Day. Overall we expect the market to continue its upward momentum while taking support from global cues. US Fed meeting minutes that would be released during the week, would hold importance after the US reported above-expectation CPI and PPI data which dampened sentiments.
Key things to know before share market opens on February 20, 2024
Wall Street
Stocks and U.S. equity futures were steady in muted trading as investors awaited fresh catalysts after a week that saw the S&P 500 breach new records and European equities falling just short of that mark, Bloomberg reported. The tech-heavy Nasdaq Composite ended down by 123.56 points or 0.78% at 15,782.61. The S&P 500 dipped by 23.58 points or 0.47% at 5,006.15, while the Dow Jones Industrial Average ended lower by 156.04 points or 0.40% at 38,617.08.
US Dollar
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded up by 0.03% at 104.32.
Crude Oil
WTI crude prices are trading at $78.12 down by 0.72%, while Brent crude prices are trading at $83.25 down by 0.37%, on Tuesday morning.
Asian Markets
Shares in the Asia-Pacific region are trading in mixed territory on Tuesday morning. The Asia Dow is trading up by 1.39%, where as the Japan’s Nikkei 225 is trading in green, up by 0.07%, Hong Kong’s Hang Seng index is ended lower by 1.13% and the benchmark Chinese index Shanghai Composite is ended higher by 1.56%.
FII, DII Data
Foreign institutional investors (FII) offloaded shares worth net Rs 754.59 crore, while domestic institutional investors (DII) bought shares worth net Rs 452.70 crore on February 19, 2023, according to the provisional data available on the NSE.
Also Read
ITC around 10-month lows but analysts still remain bullish: Here’s why
F&O Ban
The NSE has added Aditya Birla Fashion, Ashok Leyland, Bandhan Bank, Biocon, Canara Bank, Hindustan Copper, India Cement, Indus Tower, National Aluminium, Sail, and Zee Entertainment Enterprise on February 20, 2024.
Technical View
Commenting on the Technical outlook of Nifty Rupak De, Senior Technical Analyst, LKP Securities, said Nifty has surpassed the swing high on the hourly chart, signaling an increase in optimism. Additionally, the consolidation observed in recent days has concluded with an upside breakout. The momentum indicator RSI is also suggesting a positive shift in momentum. The overall sentiment appears to position Nifty for a potential upward movement towards 22,500-22,600 in the short term. The immediate crucial support is situated at 22,000.
Bank Nifty Outlook
“The index formed a doji candle on the daily chart, signaling indecision in the market. Despite this, the overall undertone remains bullish, suggesting a buy approach. The immediate resistance on the upside is situated at 46700, and a closing above this level is likely to trigger further short-covering moves towards the 48000 mark. On the downside, the immediate support is at 46000, coinciding with the area of the highest open interest on the put side, indicating a crucial level for potential price movements,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
Related Posts
admin · February 24, 2025 · Has it really been five years since Fortnite introduced its battle royale mode? It may be hard to believe, but yes–while it may seem like only a moment has passed, it really has been half a decade of enjoyment already. As such, Epic has decided to throw a 5th Birthday Celebration filled with fun activities, special quests, and even some birthday cake to eat! We’ve got everything you need to know about the festivities here.
5th Birthday Celebration start and end times
The 5th Birthday Celebration began on September 23 at 6 AM PT / 9 AM ET and will run until September 27 at 6 AM PT / 9 AM ET. Come from Sports betting site VPbet
…
admin · February 14, 2025 · Havells India’s share price surged over 2% on Thursday following the company’s announcement of a 24% profit increase in the fourth quarter of fiscal year 2024. Havells India shares soared by as much as 2.52% to reach an intra-day high of Rs 1,706.85 per share on the NSE.
Havells India posted a net profit of Rs 448.86 crore for the quarter ending March of FY24, marking a significant increase of 24.1% compared to the previous year’s figure of Rs 361.71 crore during the same period.
The company’s revenue from operations also witnessed a notable growth of 11% year-on-year in Q4 of FY24, reaching Rs 5,434.34 crore, compared to Rs 4,849.59 crore recorded in the corresponding period a year ago.
HAL set to bag another Rs 67,000 cr LCA …
admin · February 5, 2025 · By Ajit Mishra
It was a long and volatile week but markets managed to reclaim their record high, in continuation to the prevailing trend. The tone was downbeat in the initial sessions however a sharp recovery in the final trades completely changed the bias.
Consequently, both the benchmark indices, Nifty and Sensex, settled around the week’s high at 22,378.40 and 73,806.10 respectively. The majority of key sectors participated in the move wherein metal, auto and banking were among the top gainers while IT and pharma traded subdued. Meanwhile, the broader indices underperformed for yet another week and ended on a flat note.
Also Read
Crude oil rises after …
admin · January 13, 2025 · By Gaurav Arora
The February series Nifty futures started with a premium of around 135 points. The Nifty rolled around 81% and Bank Nifty around 77%. For the Index futures, FII has recently reduced shorts inducing their Net Index Long exposure to 34% which was at 22% at the start of series.
The Index is now likely to consolidate till 21500 is not breached on closing basis, for the rest of Feb series. 21450-21500 might be the immediate support and only a decisive close below it might bring in further downside.
VIX for the Nifty is currently at 16 and likely to remain in the 14 to 18 range implying a range of around 950 points in a month.
Market rally leads to higher regulatory fees for stock exchanges Raksha Bandhan 2024 Date: Know the history,…
admin · January 2, 2025 · Rockingdeals Circular Economy Ltd (RDCEL) has fixed the price band at Rs 136-140 per equity share for its initial public offering (IPO).
The maiden public issue will open for public subscription on November 22 and conclude on November 24, while the offer for anchor investors will open on Tuesday, the company said on Saturday.
Also Read
Fedfina announces Rs 1,092 crore IPO; sees no impact of RBI norms on issue
The IPO will comprise a fresh issue of 15 lakh equity shares with a face value of Rs 10 each. The offer will fetch up to Rs 21 crore at the upper end of the price band.
Stree 2 salaries: Shraddha Kapoor was paid Rs 5 crore for the film – Here’s how much Rajkummar Rao, Pankaj Tripathi, and others charged for the horror comedy IREDA sha…
admin · December 27, 2024 · Strong inflows from foreign portfolio investors (FPIs) drove the Sensex to breach 70,000 mark for the first time on Monday. The 30-share benchmark rose 232 points to hit a fresh life-time high of 70,057.83 in intraday trades but ended the day with a gain of 102.93 points or 0.15% to 69,928.53.
Of the last 11 trading sessions, barring one, FPIs were net buyers, as they poured a whopping $4.8 billion (Rs 40,555 crore) into the Indian equities.
While FIIs were net buyers on Monday, pumping in Rs 1,261.13 crore, DIIs were net sellers at Rs 1,032.92 crore, according to provisional data with the exchanges.
Market rally leads to higher regulatory fees for stock exchanges Govt aiming to fully automate customs processes by April 2026 Neeraj Chopra: A look at his t…