The Nifty futures closed positive at the level of 15,195 with a gain of 0.50%. Among the specific shares, Hindalco, MFSL, RIL, Motherson Sumi, M & M Financial, MGL, SRF, GAIL, Dabur, Sun Pharma, IGL, PowerGrid, Bajaj Finance and HCL Tech saw a spurt in business setup, but MRF, Aurobindo Pharma is weak. Tiran, NMDC, Bank of Baroda, ZEEL and Sun TV.
The Nifty started negatively on Thursday and moved in a strong way, buying as the day fell. The index moved into the 100-point range and closed the session with a gain of nearly 70 points. It formed a sharp candle on a daily scale, and crossed the high mark of its previous day. Now the Nifty will have to stay above the 15,050 level to continue the momentum at the 15,050 and 15,500 levels, while the major support below can be seen around the 15,000 and 14,850 levels.
Bank Nifty opened the negative and went sideways and has been facing some weaknesses in the last few sessions. The banking index did not see much uptrend and the day was flat with a decline of about 30 points. This constituted a rapid candlestick at the daily level, as it closed higher than the initial level, and has remained a low high for the past two sessions. The index is limited to between 35,500 and 36,600. To move towards the 36,000 and 36,500 levels, it will now have to stay above the 35,500 level, while at the bottom, support was seen at the 35,500 and 35,250 levels.
Major Asian stock indices were mostly higher on Thursday after President Joe Biden held his first conversation with Chinese leader Xi Jinping since assuming office.
Hong Kong’s Hang Seng closed up 0.5% at 30,173.57 and the Sensex in India rose 0.2% to 51,409.83. In Australia, the S&P / ASX 200 rose 0.1% to 6,860.40. Markets in Tokyo, Taiwan, Seoul and Shanghai were closed.
After swinging between a 0.5% gain and a 0.7% loss, the S&P 500 was down 0.1% to 3,909.88 on Wednesday. The benchmark index increased companies by nearly 60%, although a slide in technology stocks and companies that provide consumer services and products kept those benefits in check.
The Dow rose 0.2% to 31,437.80. The Nasdaq fell 0.3% to close at 13,972.53. The Russell 2000 index of small companies fell 0.7% to 2,282.44.
In Thursday’s second trade, US benchmark crude oil on the New York Mercantile Exchange fell 35 cents to $ 58.33 a barrel in electronic trading. It rose 32 cents to $ 58.68 on Wednesday. Brent, the international standard for crude oil pricing, dropped 38 cents to $ 61.09 a barrel.
The US dollar was unchanged at 104.59 Japanese yen. The euro rose from $ 1.2120 to $ 1.2125.