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Nifty, Sensex, Bank Nifty may move sideways– Tuesday closing report
A close below 8,480 will open the doors to decline in Nifty
 
We had mentioned in Monday’s closing report that Nifty may continue to move higher as long it closes above 8,460. The 50-stock benchmark opened Tuesday higher and moved in a range up to 2pm. After this, it made a quick plunge into the red. It tried recovering but after reaching up to Monday’s close, Nifty slipped again and closed marginally lower. The S&P BSE Sensex closed flat some 37 points or 0.13% down in the day's trade. The Sensex touched a high of 28,335.23 points and a low of 28,084.36 points in the intra-day trade. The 50-scrip Nifty also closed in the negative terrain on Tuesday -- 11.35 points or 0.13% down at 8,510.80 points.
 
In an emergency meeting of Eurozone leaders in Brussels, Greek Prime Minister Alexis Tsipras is expected to reveal fresh proposals to the country's creditors.
 
 
India VIX rose 1.81% to close at 16.3075. NSE recorded a higher volume of 94.46 crore shares. After a sustained uptrend, the Indian markets on Tuesday are consolidating.
 
The Indian Government is looking to raise about Rs15,000 crore during the current fiscal through gold bond scheme, for which a cabinet note is likely to be moved for consideration later in the month. Investors are awaiting the interest rate for the scheme, which was announced by Finance Minister Arun Jaitley in his budget speech.
 
In a report, ratings agency CRISIL said, it expects India Inc results for the June quarter to disappoint on soft commodity prices, weak growth in investment-linked sectors, and subdued rural demand restrict earnings. "Our analysis of 600 companies (excluding financials and oil & gas), which account for 70% of overall market capitalisation, shows only a mild 3% uptick in revenue growth. Sequentially, this will be 230 basis points (bps) more than the 0.7% seen in the quarter ended March 2015," it said in a research note.
 
Coming back to the Indian stock markets, during Tuesday's intra-day trade, healthy buying took place in consumer durables, healthcare and capital goods sectors.
 
However, automobile, information technology (IT), bank, oil and gas and technology, entertainment and media stocks came under intense selling pressure.
 
The S&P BSE consumer durables index augmented by 75.54 points, healthcare index rose by 47.84 points and capital goods index edged-higher by 15.54 points.
 
The S&P BSE automobile index plunged by 56.62 points, followed by IT index, which receded by 39.73 points, bank index was lower by 39.09 points, oil and gas index fell by 24.02 points and TECK index declined by 28.93 points.
 
The major Sensex gainers in Tuesday's trade were: Coal India, up 2.06% at Rs.428.60; HDFC, up 1.47% at Rs.1,337.35; State Bank of India (SBI), up 0.66% at Rs.272.70; Wipro, up 0.66% at Rs.553.45; and Sun Pharma, up 0.63% at Rs.884.45.
 
The major Sensex losers were: Vedanta, down 2.76% at Rs.158.55; NTPC, down 2.61% at Rs.134.35; Hero MotoCorp, down 1.91% at Rs.2,562.50; Hindalco Inds, down 1.65% at Rs.107.25; and Reliance Industries, down 1.17% at Rs.1,003.40.
 
The top gainers and losers among shares of indices were as follows:
 
Among the Asian markets, Japan's Nikkei gained by 1.31%, however, China's Shanghai Composite Index went down by 1.26%, and Hong Kong's Hang Seng receded by 1.03%. The table below gives the closing values of Asian indices at close:
 
 
In Europe, the London FTSE 100 index was down by 0.22%, the French CAC 40 was lower by 0.88% and Germany's DAX Index receded by 0.56% at the time pof writing. 

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Axis Bank launches one touch authentication for Apple users
Bank customers using Apple iPhone 5s and above can now complete their financial transactions using Axis Bank's one touch authentication
 
Axis Bank, India's third largest private sector bank, Tuesday unveiled 'Touch ID', its one touch authentication for transactions through its mobile app for customers who use Apple phones. 
 
"Bank customers using Apple iPhone 5s and above can now complete their financial transactions such as bill payments, mobile recharge and funds transfer using this feature. Once the customer's fingerprint is set up on the Axis Mobile app, they can authenticate subsequent financial transactions by either using Touch ID or their mPIN," the lender said in a release.
 
The bank has also launched its banking application for Apple Watch. Customers need to merely sync the Axis Mobile app with their Apple Watch to check their savings account balance, view last five transactions and notifications, access the 'Near Me' feature and search for ATMs, bank branches and offers near to them without any additional authentication.
 
According to Rajiv Anand, Group Executive and Head Retail Banking, at Axis Bank, during June 2015, the Bank witnessed mobile transactions worth Rs2,400 crore through mobile banking. "Considering the traction being witnessed in mobile banking, we plan to introduce other innovative mobility solutions in the near future. The launch of 'Touch ID' authentication and Axis Watch application for customers further reinforces our commitment to making banking simple and hassle free for our customers," he added.
 

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