15065 IS THE NEXT UPSIDE LEVEL; 14760 IS THE IMMEDIATE SUPPORT
WORLD MARKETS
US indices fell
0.5%-1.7%, with Nasdaq leading the losses, giving back some their sharp gains
from Monday.
President Joe Biden said
the U.S. will have a large enough supply of coronavirus vaccines to vaccinate
every adult in the nation by the end of May.
Brent crude dipped 99
cents, or 1.6%, to $62.70 per barrel, while WTI crude rose 28 cents to $60.92
per barrel.
The yield on the
benchmark 10-year and 30-year Treasury note fell to 1.403% and 2.22%
respectively. The dollar index slipped 0.2%. Spot gold rose 0.8% to $1,737.62
per ounce.
Main European markets
gained 0.2%-0.4%. Euro zone inflation held steady in February, rising 0.2%
month-on-month in line with expectations.
AT HOME
Sensex and Nifty climbed
0.9% and 1.1% respectively, which, coupled with yesterday's upmove, recouped
nearly three fourth of the losses suffered on Friday. Sensex settled at 50296,
up 447 points while Nifty added 157 points to finish at 14919. Nifty mid-cap
and small-cap indices rose 1.7% and 1.2% respectively. All the BSE sectoral
indices closed in green, with Auto index leading the tally, up 3.2%, followed
by 2.8% higher IT and Teck indices.
FIIs net bought stocks
and stock futures worth Rs 2223 cr and 1608 cr respectively but net sold index
futures worth Rs 1894 cr. DIIs were net sellers to the tune of Rs 854 cr.
Rupee appreciated 18
paise to end at 73.36/$.
OUTLOOK
Today morning, Hang Seng
and Shanghai are up 1% and 0.7% respectively while Nikkei is little changed.
SGX Nifty is suggesting around 40 points higher start for our market.
In yesterday's report we
had said that 14919, the lower end of the gap created by Friday's gap-down
opening, continued to be immediate hurdle, above which, 15065, the upper end of
this gap, would be the next level to eye.
Nifty crossed 14919 and
surged all the way to 14959 before closing at 14919. The benchmark is set to
open above 14950 today.
15065, the upper end of
the gap created by Friday's gap-down opening, is the next upside level to eye.
14760, the low made
yesterday, is the immediate support.
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