Source: Government of India
Source: Government of India (4)
The domestic benchmark indices were trading slightly higher on Tuesday morning, tracking cautious optimism among investors.
At around 9:30 am, the Sensex was up 91.57 points, or 0.11 per cent, at 83,534.07, while the Nifty rose 22.25 points, or 0.09 per cent, to trade at 25,483.55.
“This has already been largely factored in by the market; the unknown element is the possibility of fresh sectoral tariffs on segments like pharmaceuticals. The market’s reaction will depend on the details,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
In the previous session, the Nifty closed marginally higher, forming a green candlestick that confirmed a bullish hammer pattern from the session before, according to analysts.
“A sustained move above 25,500 could trigger a further rally towards 25,750. On the downside, immediate support is seen at 25,222 and 25,120, which may act as entry points for fresh long positions,” said Mandar Bhojane, Technical Analyst at Choice Broking.
Nifty Bank advanced 203 points, or 0.36 per cent, to 57,152.20 in early trade. The Nifty Midcap 100 was up 91 points, or 0.15 per cent, at 59,606.75, while the Nifty Smallcap 100 gained 85.70 points, or 0.45 per cent, to trade at 19,035.85.
In the Sensex pack, Kotak Mahindra Bank, Eternal, Tata Motors, BEL, Adani Ports, NTPC, Asian Paints and UltraTech Cement were among the top gainers. Meanwhile, Titan, HCL Tech, Bharti Airtel, M&M and Sun Pharma were trading in the red.
On the institutional front, foreign institutional investors (FIIs) bought equities worth Rs 321.16 crore on July 7, while domestic institutional investors (DIIs) purchased shares worth Rs 1,853.39 crore.
In Asia, markets in Seoul, Hong Kong, Japan, China and Jakarta were trading in positive territory, while Bangkok was the lone index trading in the red.
Overnight, the Dow Jones Industrial Average in the US closed at 44,406.36, down 422.17 points, or 0.94 per cent. The S&P 500 lost 49.37 points, or 0.79 per cent, to end at 6,229.98, while the Nasdaq slipped 188.59 points, or 0.92 per cent, to settle at 20,412.52.
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