Sebi Registered Research Analyst - INH000012591
Indian markets march upward over positive signs of Indo US trade talks
In
the early morning session, the GIFT Nifty was trending 0.15% higher at 25,359,
indicating a positive open for the benchmark Nifty 50. Asian indices trended
negative at open following a tepid Wall Street session, as investors held back
ahead of Wednesday’s Federal Reserve interest-rate decision. US index futures
traded positive, with marginal gains of 0.08% while Euro Stoxx 50 futures were
up 0.32%.
The
NSE Nifty 50 settled 169.90 points or 0.68% higher at 25,239.10 and the BSE
Sensex closed 594.95 points or 0.73% up at 82,380.69. The Nifty rose as much as
0.77% during the day to 25,261.40, while the Sensex was up 0.80% to 82,443.48.
Foreign portfolio investors turned net buyers of Indian equities on Tuesday,
when the market resumed its rally after a one-day blip.
The
FPIs bought stocks worth approximately Rs 308.32 crore, according to
provisional data from the National Stock Exchange. The domestic institutional
investors stayed net buyers for the 15th straight session and bought stakes
worth Rs 1,518.73 crore.
Fundamental Update
- Jindal Steel - The company offers to buy Thyssenkrupp
Steel Europe. Positive
- Avantel - The company received a purchase
order worth Rs.9.92 crore for the supply of Satcom Products from Garden Reach
Shipbuilders. Positive
- Gujarat Fluorochemicals - Promoter
Devansh Trademart sells up to 13 lakh shares at an offer price of Rs 3,500
apiece, 5.3% discount to the current market price. Negative
- Lupin - USFDA
ends the inspection at Nagpur facility with 6 observations. USFDA conducted an
inspection at Nagpur facility from Sept. 8-16. Negative
Technical Update
- NIFTY – Nifty reclaimed upward trend with gain over 150 points to settle at 25,235 on Tuesday. Index has crossed 25,200 resistance and likely to try 25,400 as next resistance. Today’s range 25,100 – 25,400.
- BANKNIFTY – Bank nifty zoomed over 400 points to
settle above 55K at 55,147 on Tuesday. Index crossed 50 day EMA of 55,140 and
likely to head towards 56K as next major resistance. Today’s range – 54,950 –
55,550.
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checking the correctness and authenticity of the information before publishing
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in analysis or views obtained from the use of information contained in this
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