The Nifty futures closed flat at 15,332. Among the specific stocks, Jindal Steel NSE 7.79%, ONGC, PowerGrid, Tata Steel, Hindalco, MFSL, Vedanta NSE 3.37%, Lupine, Havells, Apollo Hospitals, Tata Chemicals, SRF, Biocon and RIL saw business boom, but weak Among Godrej consumers, ZEEL NSE -2.65%, Amara Raja Battery, Indigo, Mindtree and TCS.
The Nifty opened up on Tuesday and made a high lifetime of 15,431, but could not sustain high. During the day, the index gained some and fell to 15,242 and touched the previous day’s level. However, the latter half of the session saw some support-based buying and recovery to settle the day on the flat note. The index constituted a bearish candle on the daily scale but formed a high for the fourth consecutive season. Now it will have to stay above the 15,200 level to continue the momentum at the 15,200 level, while the major support on the downside can be seen in the 15,100 and 15,000 areas.
The bank opened with a nifty gain but went through the day. Banking stocks saw some decline and as a result, the rate-sensitive index fell to 36,750. The latter half of the day saw some consolidation and the index settled the day with a loss of around 200 points. This formed a recession candle on a daily scale with a long lower shadow, indicating that it was bought every fall. The index remained at highs and lows for the third consecutive season. Now, the index will have to move above the 37,000 level to move towards the 37,700 and then the 38,000 level, while negative support was seen at 36,500 and 36,000 levels.
Asian stocks picked up on Tuesday by economic recovery, vaccine rollout and signs that new coronavirus cases could be eliminated.
American markets were closed on Monday for Washington’s birthday, a national holiday. The markets of Shanghai and Hong Kong are still closed for the Lunar New Year.
After closing the day above 30,000 for the first time since August 1990, Japan’s benchmark Nikkei 225 jumped 1.3% to 30,466.77 in morning trading. South Korea’s Kospi gained 0.4% to 3,158.78, while Australia’s S & P / ASX 200 added 0.5% to 6,901.80.
In energy trading, US benchmark crude oil added 69 cents to $ 60.16 a barrel in electronic trading on the New York Merchant Exchange. On Friday, it rose to $ 59.47 per barrel from $ 1.23. International standard Brent crude rose 15 cents to $ 63.45 a barrel.
In currency trading, the US dollar rose from 105.39 yen to 105.50 Japanese yen. The euro strengthened from $ 1.2131 to $ 1.2149.