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Markets trade with volatility and close slightly in the red.

NIFTY opened with a gap-down at 15,594 and was highly volatile for the first 30 minutes. Eventually, the index moved higher, but it could not reach yesterday’s high. After falling back to the day low, NIFTY closed the day at 15,732, down by 42 points or 0.27%.

BANK NIFTY started the day at 33,188 and moved very similarly to NIFTY. Even though the index moved up 500 points from the day-low, this was not sustained. Bank Nifty ended the day at 33,311, down by 94 points or 0.28%.

All sectoral indices closed with consolidation. NIFTY Realty moved the most in the day.

Major Asian markets closed in the red today. European markets are also trading in the red currently.

Today’s Moves.

As electricity plants across the country run at full capacity, NTPC (+1.6%) featured in the top-gainers of NIFTY. 

Bajaj Auto (-5.1%) crashed intraday after temporarily suspending plans for share buyback.

BPCL (-1.1%) and Hindustan Petro (-5.6%) hit multi-year lows as the investors fear the companies will be taking on more losses as international crude oil prices move up. Shares of IOC (-2.9%) also fell.

Meanwhile, Russian oil now accounts for 18% of India’s total crude imports.

Adani Enterprises (+5.6%) moved up after Total Energies acquired a 25% stake in its subsidiary Adani New Enterprises. They have partnered to take forward the green hydrogen business.

LIC (+0.91%) shares closed in the green for the first time since May 30.

Ashok Leyland (+1.2%) moved up in a weak market as the EV arm is expected to announce a new electric bus platform. However, the company’s Chief Operating Officer resigned after market hours.

Markets Ahead

India’s Consumer Price Inflation came out yesterday at 7.04% against an expected 7.1%. Even though the inflation has cooled down, it is still above the RBI’s comfort level of 6%.

This was why the Indian markets mostly traded flat despite global markets continuing their fall. Even SGX NIFTY was stable yesterday night.

However, in May month Wholesale Prices inflation came out at 15.88%, the highest ever.

Looking at NIFTY’s 1-day candles, it has definitely fallen below the May month’s low of 15,740. Now the next level to look out for is 15,650, which is its lowest since July last year.

Bank Nifty is still staying above its support level of 33,000. Will be watching for a bounce-back up from this level if NIFTY also reverses.

What do you think? Is this a minor fall or just the beginning of a bigger one? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

NIFTY opened with a huge gap-down of 324 points at 15,877 and started falling to take support at 15,750. After breaking that level, the index hit a three-month low at 15,687 and took support near the 2022 year low. A fall of 500+ points brought some buying and NIFTY closed the day at 15,774, down by 427 points or 2.64%.

BANK NIFTY started the day at 33,728 with a gap-down of 755 points. The index was in a free-falling mood for the first hour and then took some support, thanks to the 33,200 level. Bank Nifty ended the day at 33,405, down by 1077 points or 3.13%.

All sectoral indices closed in the red. Bank Nifty (-3.1%), Nifty Finserv (-3.1%), Nifty IT (-4.1%), Nifty Media (-3.9%), Nifty Metal (-3.8%), Nifty PSU Bank (-3.5%), and Nifty Realty (-3.1%) crashed down.

Asian markets closed in the red today. European markets are also trading nearly 2% down.

Today’s Moves

RBL Bank (-22.6%) fell more than 20% after appointing a new CEO and MD. Brokerage firms have raised many concerns about their future and are having a bearish view of the stock. 

Pidilite Industries (+1.1%) closed in the green based on good brokerage updates.

Nifty 50 Top Losers list is majorly filled with financials and IT stocks. Bajaj Finserv (-7%), Bajaj Finance (-5.4%), IndusInd Bank (-5.2%), TechM (-5.2%) and Hindalco (-5%) fell more than 5% intraday.

Tata Motors (-4.9%), ICICI Bank (-4.4%), Adani Ports (-4.2%), TCS (-4.1%) and NTPC (-4%) also featured in the list.

Bajaj Finance (-5.4%), Bajaj Finserv (-7%), Tata Steel (-3.1%), UltraTech (-2.8%) hit 52-week low during strong market fall.

Finance stocks including CholaFin (-6.3%), IBull Housing (-6.3%), and M&MFin (-6.1%) were crushed down.

Markets Ahead

Indian market is copying the global sell-off. US markets fell around 3% on Friday and other major markets are also showing a sharp fall.

Experts are saying that ‘rising crude oil prices, interest rate hikes are kind of a situation that happened just before past recessions in the US. Also US bond market is having an inverted yield curve, indicating an economic recession.

The global market sell-off will continue for a few more days. US Fed meeting this Wednesday may fuel the current fall. Analysts are expecting a minimum of 175 bps interest rate hike in the U.S this September.

Talking about our market, India’s May CPI data will be released at 5:30 PM today. The estimate is at 7.1% against 7.8% for April month. This is still above RBI limits, which means we will definitely face aggressive interest rate hikes in the coming months. 

Nifty is trading near this year’s low, which is very alarming and will be watching 15,500 on the downside.

Bank Nifty has again reached its support zone above 33k. But we can’t expect to see an immediate rebound.

The market is having a strong downside momentum, not a good time to consider new swing positions. But it looks like the coming months are a great opportunity for investing in a disciplined-slow pace manner. Take these days to find fundamentally strong stocks and just plan your future!

See you at The Stock Market Show at 7 PM!

Markets close at their lowest point for the week.

NIFTY opened with a gap-down at 16,306 and kept moving lower. The index even broke the support zone at 16,200 after noon. NIFTY closed the day at 16,201, down by 276 points or 1.68%.

BANK NIFTY started the day at 34,752 with a gap-down of 250 points. The index kept on falling throughout the day at specific intervals. After a total fall of nearly 400 points from the day-high, Bank Nifty ended the day at 34,483, down by 601 points or 1.71%.

All sectoral indices closed in the red. NIFTY IT, NIFTY Finserv and Bank Nifty saw the worst falls.

Asian markets closed in the red today. European markets are also trading in the red.

Today’s Moves

Kotak Bank (-3.9%) closed as the top loser in NIFTY 50. It was accompanied by Bajaj Finance (-3.9%) and HDFC (-3.7%) from the finance sector.

Transformers and Rectifiers (+8.5%) share shot up after getting orders of transformers for a value of Rs 186 crores.

PNB Housing (-7%), Indiabulls Housing (-4.2%) and other finance stocks ended in the red.

Welspun Enterprise (-8.4%) moved up after UK-based global investor Actis bought road assets of the company for Rs 6,000 crore.

Power Ministry says India’s electricity demand records a new high of 2.1 lakh MW.

Markets Ahead

There is fear in China over local banks collapsing and the strength of the financial institutions. Asian markets moved lower because of this.

Expecting more developments over the weekend regarding this. The inflation data from the U.S. is also expected tonight. European markets are trading lower in fear of this.

Bank of England said that UK’s 12-month inflation expectations are at the highest on record. Market participants around the world are looking at this key inflation data a month after interest rates were increased.

With today’s fall, NIFTY has lost its 3-week winning streak. The NIFTY IT index has fallen for 9 out of the last 10 weeks.

As the week closes, stay updated on the inflation data and the news from China about weakness in the banking system.

See you at The Stock Market Show at 7 PM!

Markets move up after opening in the red.

NIFTY opened with a gap-down at 16,279 and moved up. The index tried to move up but fell back to the 16,340 zone. But after 1 PM, the index started gaining strength from this level and shot up. NIFTY closed the day at 16,478, up by 121 points or 0.74%.

BANK NIFTY started the day at 34,809 and fell 150 points. The index traded in red till near 3 PM. And just in the last 30 minutes, the index moved up nearly 200 points. Bank Nifty ended the day at 35,085, up by 139 points or 0.40%.

NIFTY Pharma (+1.2%) and NIFTY IT (+0.98%) performed well in the day. Meanwhile, NIFTY Metal (-1.3%) fell considerably.

Asian markets closed mostly in the green today. European markets are mostly trading in the red.

Today’s Moves

Dr Reddy (+2.9%) and SunPharma (+1.3%) closed in the top-gainers of NIFTY 50. Most Pharma stocks closed in the green.

Biocon (+5.1%) shot up after a positive brokerage report. The stock is trying to bounce back from a 2-year low it made yesterday. 

BPCL (+2.7%), Reliance (+2.7%) and ONGC (+1.3%) closed well in the green in NIFTY 50 from the energy sector.  

OIL, Hindustan Petro, IGL and IEX also moved up. 

UK Natural Gas futures jump 25% on US LNG outage.

Tata Steel (-3.8%) took resistance at the Rs 1,100 zone once again and fell sharply. 

PNB Housing (+15.1%) shot up and touched its highest since April 21st. 

IFB Industries (+9.2%) moved up after reports that the government may ban imports of refrigerators to boost the local industry.

AU Bank (-51.2%) shares went down by half after the 2:1 stock split came into effect.

Markets Ahead

Mutual Fund reports from May show a healthy inflow of more than Rs 18,500 crores into equity funds. SIP inflows also increased slightly for the month to Rs 12,280 crores.

The weekly expiry ended with some bullish moves. It was the sort of move that we have come to expect from a weekly expiry!

There was a crazy move once NIFTY managed to cross the day-high. And now as the week is nearing its end, we can expect more such moves in the market. 

Keep an eye on Reliance which shot up nearly 3% from the day-low. Kotak Bank is also taking support at the bullish trendline.

See you at The Stock Market Show at 7 PM!

RBI Governor induces volatility in the market with his announcements.

NIFTY opened with a gap-up at 16,481 near yesterday’s high. Things were happening very fast as NIFTY fell more than 1% by 10 AM. As the RBI Governor’s speech went on, the index created a fresh day-high as seen in the chart. 

However, profit-booking pulled it down and NIFTY closed the day at 16,356, down by 60 points or 0.37%.

BANK NIFTY started the day at 35,168 and fell till yesterday’s low. The index had a more dramatic day as it gained 600 points in just 45 minutes. But all these gains were lost in the afternoon. Bank Nifty ended the day at 34,946, down by 50 points or 0.14%.

NIFTY Realty (+1.8%) and NIFTY Media (+1.4%)performed well in the day. The FMCG (-1.05%) index fell more than 1%.

Asian markets closed mostly in the green today. European markets are mostly trading in the red.

Today’s Moves

The RBI governor announced a Repo Rate increased by 50 basis pts. And this was in line with the street estimates so markets initially shot up.

SBI (+1.7%) saw buying in the day and closed among the top-gainers of NIFTY 50.

ITC (-2.1%) and Reliance (-1.7%) saw profit booking from their 52-week high zones.

Deepak Nitrite (-4.8%) fell after reports said that the Gujarat Govt issued a closure notice to the company’s units because of the recent fire accident.

Gujarat Gas (-7%) shares fell sharply for the fourth day as investors fear the price cuts of the company for its industrial segment.

MRPL (+9.1%) continued to hit fresh 52-week highs. Meanwhile, Reliance group stocks TV18 (+10.8%) and Network18 (+5.4%) recovered from their recent falls.

Markets Ahead

Markets were choppy as the RBI Governor’s announcements. 

One thing that the market did not like was the prediction that inflation would remain above 6% till December.

And then there is the whole worry about the 4th wave, with a number of reported cases going up 5x in the last 2 months.

News based movements continued. Options data is showing that most big players are playing it safe with a wide range of predictions for tomorrow’s expiry.

Bank Nifty is likely to trade between 34,600 and 35,500 tomorrow. Once again, most players are trying to keep it safe. Moves outside this zone could trigger bigger moves in the markets.

See you at The Stock Market Show at 7 PM!

Markets move down after the weak opening.

NIFTY opened with a gap-down at 16,487. Just before noon, the index touched its lowest in 10 days at 16,350. Consolidation was seen for the last 3 hours of the day. NIFTY closed the day at 16,416, down by 153 points or 0.92%.

BANK NIFTY started the day at 35,125 with a gap-down. Throughout the day it traded in a 300 point zone despite breaking the 35k mark. The index gained back nearly 200 points from today’s low by closing time. Bank Nifty ended the day at 34,996, down by 314 points or 0.89%.

Most sectoral indices closed in the red today. NIFTY Realty (-1.6%), NIFTY Media (-1.6%), NIFTY IT (-1.5%) and NIFTY FMCG (-1.5%) closed in deep reds.

Asian markets closed mixed in the day. European markets are also trading in the green.

Today’s Moves

ONGC (+5.1%) hit a 2-week high with gains in global crude oil prices. 

Other crude oil exploration and refining stocks MRPL (+19.5%) and OIL (+2.6%) hit 52-week highs.

Titan (-4.4%) and UPL (-4.2%) saw good selling as they closed in the top-losers list for the day.

Britannia (-3.1%) and Hindustan Unilever (-3%) fell along with Marico (-2.7%) as FMCG stocks came under profit booking.

Packaging company EPL(+5%) moved up in the day and is nearing a trendline breakout in the daily charts.

Markets Ahead

The Monetary Policy statement by our RBI Governor will be at 10 AM tomorrow. Our markets saw profit booking ahead of this announcement.

Now that the results season is over, markets are back to general news based movements. But NIFTY still managed to close above the 16,400 mark today.

Both NIFTY and BANK NIFTY are taking resistance at the 200-day EMA and moving down. This will be an important level to watch out for. 

Options data indicate that bulls are playing it safe for the week and not taking many positions. Meanwhile, there is heavy resistance at the 16,500 zone from call option sellers.

Data from Bank Nifty indicate a close between 34,400 and 35,600 for the week. A move beyond this zone could trigger a bigger move to that side.

Let us see how tomorrow’s market is affected by the RBI announcements!

See you at The Stock Market Show at 7 PM!

Markets consolidate on the first week of the day.

NIFTY opened with a gap-down at 16,547. After falling, it took really good support at last week’s low and bounced back. The day high was made around 2 PM near the 16,600 zone. Towards closing, the index lost close to 250 points from the day-high. NIFTY closed the day at 16,569, down by 14 points or 0.09%.

BANK NIFTY started the day at 35,178 with a gap-down. It shot up only to fall sharply immediately. There was mostly consolidation in the afternoon with volatility in the last 30 minutes. Bank Nifty ended the day at 35,310, up by just 35 points or 0.1%.

Most sectoral indices are consolidated today. NIFTY Metal moved up 1.12% while NIFTY Realty (-0.82%) moved down.

Asian markets closed mixed in the day. European markets ended in the green.

Today’s Moves

Bajaj Auto (+4.02%) bounced back from last week’s fall and closed as the top-gainer in NIFTY.

PVR (-1.7%) and Inox Leisure (-4.6%) fell as Covid-19 cases rise.

NIFTY Metal moved up with contributions from JSW Steel (+2.9%), Tata Steel (+1.01%), and Jindal Steel (+1.82%), Ratnamani Metals (+7.15%) also jumped up.

Meanwhile, cement shares continued their bearishness. Shree Cements(-3.08%) and UltraTech Cements (-1.72%) closed amongst the top-losers of NIFTY.

OIL India (+11.1%) gave a breakout and closed at a 52-week high as multiple brokerages gave a buy rating.

Markets Ahead

India reported 4518 new cases in the last 24 hours. Maharashtra Cabinet will meet at 4 pm today to discuss additional measures to be taken to control the spread of Covid-19 infection. 

China is easing restrictions as Covid infections cool down. Let’s see whether scenes affect the global market or not. But India is expected to get hit by the 4th Covid wave in June.

Bank Nifty is trading close to the 50 EMA (Day candle) for many days. Will be watching 35,800-36,000 levels along with 50-EMA.

Markets are highly cautious ahead of the RBI Monetary Policy Committee updates this Wednesday. Nifty and Bank Nifty closing flat looks like a perfect recipe for strong movements in the coming days.

Reliance and HDFC Bank are trading with lesser volume compared to the previous week. Remember, volume is the key to all!

Bulls are protected by 16,400 while 16,700 & 16,800 are in favour of Bears. Do keep these resistances in mind while taking trades in the market!

Are you expecting a bullish or bearish move this week? Let us know in the comment section of the marketfeed!

Show at 7 PM!

Markets move down after the gap-up opening.

NIFTY opened with a gap-up at 16,763 and tried to move up. After finding resistance at 16,800, the index traded in a 100 point zone before moving down. Towards closing, the index lost close to 250 points from the day-high. NIFTY closed the day at 16,584, down by 43 points or 0.26%.

BANK NIFTY started the day at 35,933 with a gap-up and started falling. It took support at the 35,500 zones by 1:30 PM but soon fell again. A total fall of nearly 800 points was seen from the day-high to the low. Bank Nifty ended the day at 35,275 down by just 338 points or 0.95%.

All indices except NIFTY IT closed in the red today. NIFTY Auto, NIFTY Media and NIFTY Metal fell more than 1% each.

Asian markets closed mixed in the day. European markets mostly ended in the red.

Today’s Moves

Reliance closed as the top-gainer in NIFTY 50, with a gain of more than 2%. The stock was just 1.5% away from its all-time high.

Grasim(-6.50%) fell to a 52-week low and closed as the top-loser in NIFTY after UltraTech’s investment plan. 

Cement stocks including UltraTech Cement(-5.48%) and Shree Cement(-4.61%) also fell as Adani’s entry into the cement sector prompted a Rs 12,800 crore capacity expansion plan from leader UltraTech.

Ramco Cements, JK Cement and Dalmia Bharat also fell between 8-10%.

Aether Industries listed at Rs 715 against the issue price of Rs 642, and closed at Rs 775.

Markets Ahead

NIFTY is recovering in a fast manner once again with power from Reliance. The stock is just 2% away from its all-time high. And with the gap-up opening this week, NIFTY has still closed more than 1% in the green.

The week that has gone by has been exciting. The market has moved up and down and kept traders busy. Today, NIFTY has taken resistance at its 200-Day Exponential Moving Average and moved down. The 16,800 zone is also really important for the index as you can understand from the chart below.

Hoping that Bank Nifty supports the general market on its road toward recovery.

How did this week go for you? Share your experiences in the comment section of the marketfeed!

See you all at the Stock Market Show at 7 PM!

An expiry day of slow-paced up move. Reliance makes a strong close.

NIFTY opened with a gap-down at 16,481 and moved up more than 1% from there. The up-move was slow and boosted by Reliance. The index marked a day high near 16,650. NIFTY closed the day at 16,628, up by 105 points or 0.64%.

BANK NIFTY started the day at 35,470 and fell into consolidation mode for the whole day. The index was mostly moving in a 180-pts range and ended the day at 35,613, down by just 7 points or 0.02%.

NIFTY IT ( +1.8%) recovered  from yesterday’s fall. Nifty Media (+1.1%), Nifty Metal (+1.1%), Nifty PSU Bank (+1%) also closed with good gains.

Asian markets closed mixed today. Germany and France are trading nearly 1% up while the UK market is down 1%.

Today’s Moves

Reliance (+3.4%) is racing towards its 52-week high and closed as the Nifty 50 Top Gainer.

Oil related stocks such as ONGC (+1.8%), OIL (+2.2%), Hind Petro (+1.1%), BPCL (+1%) also moved up.

Paints stocks- Asian Paint (+1.9%), Berger Paints (+3.5%), Kansai Nerolac (+2.3%) moved up as Saudi Arabia’s plan to increase oil output caused a fall in oil prices.

All the Nifty IT stocks except TechM (-0.05%) closed strong. HCL Tech (+2.1%), INFY (+2%), LTTS (+3.4%), LTI (+3.1%), Mind Tree (+1.9%), Mphasis (+2.1%), and TCS (+2%) moved.

Nifty Auto is continuing to see profit booking. Eicher Motors (-1.7%), Hero MotoCorp (-3.4%), and Tata Motors (-1.2%) closed in the red after reporting sales data. 

Ashok Leyland (+2.5%) saw good buying after it launched the industry’s first 8-wheel truck known as AVTR 2620.

Markets Ahead

Nifty was moving slowly up today, powered by our dear Reliance. 

Talking about Reliance, the stock is just 4.5% away from its 52-week high. Hoping for a breakout in other energy stocks also.

In between all this, Saudi may increase oil production to combat the global energy crisis.

Bank Nifty went through a beautiful consolidation phase today and we all know what happens if the consolidation continues for more days.

Nifty IT has covered yesterday’s fall and the 29,850 level is acting as a resistance. A 2.5% jump in TCS just after today’s opening was really interesting and major IT stocks will be on the watchlist for a few more days.

News of ‘Maharashtra CM Uddhav Thackeray’s meeting with Covid19 task force in the wake of a sudden increase in the cases’ had no impact on the market today. 

How was this expiry day? We have four more expiries this month and hope to see everything goes well.

Share your experiences in the comments down below!

See you all at the Stock Market Show at 7 PM!

Markets gain back from deep red with sharp buying towards closing.

NIFTY opened with a gap-down at 16,602 and took resistance at 16,650. Eventually, it moved down more than 200 points from the day-high. But sharp buying in banks and IT stocks helped the index move back above the 16,500 mark. NIFTY closed the day at 16,522, down by 62 points or 0.37%.

BANK NIFTY started the day at 35,407 and shot up. The index started falling just after noon and took support at yesterday’s low. From this support, Bank Nifty gained more than 450 points and ended the day at 35,620, up by 133 points or 0.38%.

NIFTY IT (-1.4%), NIFTY Pharma (-1.2%) and NIFTY Realty (-1.1%) moved down. All other sectors saw general consolidation.

Asian markets closed mixed today. European markets are currently trading flat.

Today’s Moves

JSW Steel (+3.3%) moved up after saying that the company will maintain steel shipments to Europe despite the recent export tax.

Bajaj Auto (-3.7%) fell sharply after the sales data for May fell below expectations.

Hindalco (-2.8%) fell after aluminium prices moved down. National Aluminium (-4%) also moved down. 

HDFC Life (+1.3%) and ICICI Prudential (+5%) moved up as LIC’s (-0.11%) poor results give hope to the private sector players.

PNC Infra (+3.7%) moved up after winning large orders worth Rs 1500 crores.

Dela Corp (-2.8%) moved down after news that investor Rakesh Jhunjhunwala sold 25 lakh shares from 27th to 31st May through the open market.

M&M (+1.2%) continued up move after reporting total sales of 53,700 units, 15% higher than estimates.

Markets Ahead

The markets are consolidating after multiple days of recovery.

The Bank Nifty index has hit resistance near its 200-Day Exponential Moving Average but is trying to hold strong. The index was in the green despite NIFTY closing in the red territory.

IT and Pharma stocks were the ones who actually pulled the market down. Looks like they are cooling down after many days of moving up.

The U.S. market futures are trading in the green, and if we take an indication from the closing candles of Bank Nifty, we can expect some strength tomorrow.

But tomorrow is also the first weekly expiry for the June series and market participants are eagerly waiting to gain profits after the crazy month of May. So expect tomorrow’s market to be volatile!

How has June started for you? Let us know in the comments section of the marketfeed app!

See you all at the Stock Market Show at 7 PM!

Markets fail to hold bullish sentiment and fall towards closing.

NIFTY opened with a gap-down at 16,599 and took support near the 16,500 zone. It looked like a bullish day till 2 PM, with consistent moves till yesterday’s high. NIFTY fell to the day-low as banking stocks fell towards the end and closed the day at 16,584, down by 76 points or 0.46%.

BANK NIFTY started the day at 35,665 and slowly moved up. The index did not have enough to even reach yesterday’s high. After breaking the trendline, there was a sharp crash after 3 PM. BANK NIFTY ended the day at 35,487, down by 339 points or 0.95%.

NIFTY Realty (+2%), NIFTY Media (+1.5%) and NIFTY Metal (+1.3%) closed more than 1% in the green. NIFTY PSU Bank (-1%) and NIFTY Bank (-0.95%) closed 1% in the red.

Asian markets closed mixed today. European markets are currently trading mixed.

Today’s Moves

ONGC moved up 5% in the day after it planned to increase expenditure on exploration. Along with OIL(+6%) and ONGC (+5%) also said they are not expecting more taxes on crude oil.

Other energy stocks including NTPC (+.3%) and Coal India (+3%) moved up 3% each from NIFTY 50.

Mahindra & Mahindra (+3.6%) continued to move up after brokerage re-ratings and all-time high breakout.

SunPharma(-3.12%) moved down after announcing surprise losses for the 4th quarter.

Kotak Bank (-2.9%), HDFC (-2.5%), SBI (-1.3%) and Axis Bank (-1.2%) were among the top-losers of NIFTY 50 from the financial sector.

Poultry stock Venkey’s (+3.4%) gained after Malaysia banned exports of 3.6 million chickens a month until their domestic prices and production stabilize.

Market linked stocks including CDSL (+11.9%), BSE (+9.7%), CAMS (+9.3%) and MCX(+5.8%) gained today.

Tata Elxsi (+3.7%) gained after tying up with Lenovo to deploy solutions for enterprises.

Markets Ahead

The GDP growth data for the last financial year will be published today and market participants remained cautious because of this.

The Meeting of the Union Cabinet is scheduled to be held tomorrow, do watch important updates from there as well.

The U.S. market futures had fallen sharply towards 3 PM, which triggered selling in our markets as well. Do keep a watch on the rebound of energy stocks as the global energy crunch worsens.

The FMCG index is also showing strength, touching its highest since last November. Watch how these stocks will react as other sectors like IT are recovering.

Did you catch the last hour fall in the market, or get trapped by it? Let us know in the comments down below!

See you all at the Stock Market Show at 7 PM!

Markets shot up on the first day of the week with power from IT stocks.

NIFTY opened with a gap-up at 16,529 and started moving up. The opening above the 16,500 resistance zone was a confidence booster and the index moved till 16,700. Then it lost its intraday power but never fell below 16,600 levels, marking a strong close. NIFTY closed the day at 16,661, up by 308 points or 1.89%.

BANK NIFTY started the day at 35,958 with a gap-up of nearly 1%.The index was consolidating around 36k till 11:45 pm and then it slowly moved down. BANK NIFTY ended the day at 35,826, up by 213 points or 0.60%.

All the indices closed in the green territory. Nifty Auto (+1.9%), Nifty IT (+3.8%), Nifty Media (+3.2%), Nifty PSU Bank (+3.2%), and Nifty Realty (+4%) performed well. Nifty Pharma lost its morning gains and closed flat.

Asian markets closed very well in the green today. European markets are currently trading flat to 1% gain.

Today’s Moves

Titan(+4.9%) regained an important level and closed as the top-gainer in NIFTY 50.

M&M(+4.7%) hit an all-time high after the market reacted well to its Q4 results. Tata Motors (+2.9%), and Hero MotoCorp (+1.8%) also closed well in the auto sector.

L&T (+3.7%) continued to win significant contracts that value up to Rs 1,000 to 2,500 crore and closed as the top gainer.

IT stocks shot up in the day in recovery mode. Infosys (+4.4%), TechM (+3.6%), HCL Tech (+3.5%) and TCS (+3.5%) closed in the top-gainers.

As international oil prices touch a 2-month high, Reliance (+3.4%) gained. OIL (+3.1%) also moved up after its Q4 results.

Kotak Bank (-2.2%) saw profit booking and closed as the top loser in NIFTY 50.

Jubilant Foodworks (+9.7%) after posting net profit just below expectations and IRCTC (+6.5%) gained ahead of its Q4 results.

Markets Ahead

A great start to the week with Nifty closing very well above 16,650. After many days the index broke 16,400 resistance with the help of a gap-up opening. And just like with any other short-covering days, bears panicked and pushed the market up.

The promise of inflation control from major countries is powering all the markets and it will continue as a deciding factor for many more weeks.

Investors are expecting rate hikes in the coming months also, but we may see a pause around September.

The US market will be closed today on account of ‘Memorial Day’.

Good manufacturing data and inflation data from global markets will be crucial for the recovery to sustain. Along with that, some magic by the bulls to hide all the negatives running around!

How did your portfolio react when Nifty moved from 15,750 to 16,650?  Let us know in the comments of the marketfeed app!

See you all at The Stock Market Show tonight at 7 PM.