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- Sensex jumped 0.76% at 52,769.73, Nifty closed at 15,812.35
- 21 out of 30 stocks of Sensex and 34 out of 50 stocks of Nifty strengthened
Tuesday was a good day for the domestic stock market. BSE’s 30-share Sensex and NSE’s 50-share Nifty both gained 0.76%. The Sensex jumped 397 points (0.76%) to end at 52,769.73. Nifty climbed 119.75 points (0.76%) to end at 15,812.35. 21 stocks of Sensex and 34 stocks of Nifty remained strong.
In the midst of buying in big stocks, investors’ interest was also in small stocks. Nifty’s small cap index rose 1.03%. The mid cap index closed with a gain of 0.21%. Barring Nifty Media, IT and FMCG, all other sectoral indices remained strong. The financial sector gained 1.48% while Nifty Bank gained 1.35%.
Shares that supported Sensex and Nifty included ICICI Bank, HDFC, Axis Bank, NTPC, Sun Pharma, Kotak Bank, Grasim. Selling in HCL Tech, Dr Reddy’s Lab, Maruti, Tech Mahindra, HUL, Adani Ports, Tata Consumer, Tata Chemicals put pressure on them.
On Tuesday, the Sensex opened at 52,694.89 with a strength of about 322 points. Nifty also opened at 15,794 with a gain of 102 points. US markets closed at record highs on Monday. European markets were also strong. There was a bullish trend in Asian markets today.
The market took support near 15,750 after an initial consolidation and moved towards 15,820. In this, the pattern of Higher High and Higher Low is being formed for the last two days. Its trading pattern shows that every fall in the market is a buy. It has been trading in the range of 15,632 to 15,915 for the last 15 days. A solid bounce is needed to get out of the range.
If Nifty remains above 15,800 then it will be seen moving towards 15,915. After crossing this level, the next target will be 16,000. If there is a decline, the first support will be found at the level of 15,750. If Nifty falls below this level then it will find its next support at 15,600. Futures market deals are indicating the Nifty to remain in the range of 15,600 to 16,000.
Strength in India VIX
Volatility Index India VIX closed with a decline of 2.83%. The fall in this index shows how much Nifty can climb on a yearly basis in the next 30 days. A rise in the India VIX from lower levels indicates an increase in movement with the market remaining firm.
Experts had predicted the stock market to remain in a limited range today. He said that with increased volumes, if the move above 15,850, new bullish deals can be seen. He had predicted the metal index to remain firm, while the IT sector was expected to remain under pressure due to weak guidance from TCS.
Today the quarterly results of these companies are going to come – Mind Tree, Tata Metallics, Shree Ganesh Remedies, Deccan Healthcare and Gagan Gases. Mind Tree June quarter results are out. Its net profit has increased by 61% to Rs 343 crore.
Asian markets remained strong
Asian markets closed strongly. Hong Kong’s Hang Seng jumped 1.60%. Korea’s Kospi was up 0.77%. China’s Shanghai Composite ended 0.53% higher. Japan’s Nikkei gained 0.46%. Australia’s All Ordinary was up 0.10%.
Europe has mixed trends
Britain’s FTSE index is trading up almost half a percent in European stock markets. France’s CAC is down about 0.20% and Germany’s key index is down by about 0.10%.
US markets were closed strong
On Monday also, there was a significant jump in the US markets. The Dow Jones closed up 0.36%. The Nasdaq was up 0.21%. The S&P 500 also closed with a gain of 0.35% points.
FII and DII data
According to provisional data available on the NSE, on Monday, July 12, foreign institutional investors (FIIs) sold shares worth a net Rs 745.97 crore. That is, the shares worth more rupees were sold than the shares bought for Rs.
Domestic Institutional Investors (DIIs) had bought shares worth a net Rs 447.42 crore yesterday. So far this month, he has bought shares worth Rs 2,350 crore. FII has sold shares worth Rs 745.97 crore net.