Nifty, Bank Nifty and Sensex may try to stage a rebound – Tuesday closing report
Nifty has support at around 8,300 and may bounce back from there or from a higher level
We had mentioned in Monday’s closing report that Nifty may bounce back, but the bounce would be short-lived. Today, the index witnessed a volatile session, wherein it tried staying close to Monday’s close. However, by 2.19 pm, the index lost its strength and closed in the red for the fifth consecutive session.
Sensex opened at 27,861 while Nifty opened at 8,416. Sensex moved in the range of 27,598 and 27,977 and closed at 27,676 (down 210 points or 0.75%) while Nifty moved between 8,353 and 8,469 and closed at 8,378 (down 70 points or 0.83%). Bank Nifty moved mostly in the green today. It opened at 18,102 and moved in the range of 18,037 and 18,328 and closed at 18,106 (down 7 points or 0.04%). NSE recorded a volume of 94.50 crore shares. India VIX rose 4.49% to close at 17.0300.
The government will soon auction 69 marginal oil and gas fields owned by state explorers ONGC and Oil India, Oil Secretary Saurabh Chandra said on Tuesday.
According to a PTI report, gold prices tumbled by Rs400 to hit its one-week low of Rs26,750 per 10 grams at the bullion market on the eve of the auspicious Akshaya Tritiya.
HCL Technologies posted revenues of Rs4,385.95 crore (up 8%) for March 2015 quarter over March 2014 quarter, while its operating profit rose by just 2% to Rs1,748.92 crore. Its net profit rose by 11% to Rs1,564.74 crore. Its board of directors declared an interim dividend of Rs4 per equity share on the face value of Rs2 each. It fell 3.48% to close at Rs891.05 on the BSE.
Religare Enterprises was the top gainer in ‘A’ group in the BSE, going up 10.55% and closing at Rs385.65.
Sun Pharma was the top loser in ‘A’ group BSE, crashing by 8.86% to close at Rs951.60. It was also the top loser in the Sensex 30 pack. Today, Daichi Sankyo exited the stock, following the merger with Ranbaxy which was earlier taken over Daichi. Sun promoter Dilip Sanghvi is rumoured to have increased his stake. However, clarification is awaited from the company. It filed its shareholding pattern as on 10 April 2015 which showed that the promoter shareholding fell from 63.56%, as at the end of March 2015, to 54.71% as on 10 April 2015. FIIs too reduced their holding to 18.82% from 19.97%, while DIIs increased their holding from 4.55% to 5.17%, and retail shareholding increased from 11.92% to 21.30%, for the relevant period. Sesa Sterlite (1.59%) was the top gainer in Sensex 30 pack.
On Monday, US indices closed in the green. Except for NZSE 50 (0.12%), Seoul Composite (0.09%) and Taiwan Weighted (0.20%) all the other Asian indices closed in the green. Hang Seng (2.79%) was the top gainer. European indices were trading in the green. US Futures too were trading higher. Eurozone finance ministers are scheduled to hold a meeting on Friday to discuss the state of negotiations between Greece and its international creditors. Greece needs to strike a deal within the next few months to secure billions of euros in bailout aid to avoid defaulting on its debts and potentially exiting the euro.