15 Mar , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equities opened in the green on Tuesday morning, attempting to extend their gaining streak. Sensex soared more than 200 points on opening before cooling down to trade flat with marginal gains, the index was sitting above 56,500. Nifty 50 was flat, just below 16,900. Bank Nifty was up 0.25%. India VIX soared higher, closing in on 26 levels. Broader markets were outperforming benchmarks. Mahindra & Mahindra was the top Sensex gainer on Sensex, up 1.5%, followed by Maruti Suzuki India, and Asian Paints. Tata Steel fared worst on Sensex, down 2.6%, accompanied by Kotak Mahindra Bank, and Infosys.
Support for Nifty at 16730
“The 16720-850 congestion region was blown away in the face of bullish onslaught yesterday, but Nifty is sure to acknowledge 16960 today, significant by the confluence of several key averages. Oscillators that were reluctant onlookers yesterday should straighten out today, if dips were to unfold. Thus, while averages and oscillators are willing Nifty to swing lower, patterns look stable enough to add more legs to the ongoing rally. This encourages us to extend the short term upside targets to 17300-18000. However, for the day, while the turn lower from the 16960 region is expected to be limited to 16730, slippage past the same could call for an extended consolidation period, with 16480 as the downside marker,” said Anand James – Chief Market Strategist at Geojit Financial Services.
“There are positives and negatives for the market today. The big positive is the sharp decline in FPI selling to a mere Rs 176 cr yesterday. Interestingly, the two segments which saw sustained FPI selling – financials and IT – are witnessing improving prospects. IT has bounced back smartly; financials have more room to go up. The drop in crude from $140 to $103 is a big relief and will turn out to be a tailwind for the market if the decline sustains. The negative is the sharp upmove in US 10-year bond yield to 2.16 %. If the Fed turns more hawkish than expectations on Wednesday, that can be a headwind for equity markets globally,”
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