Indian equity benchmarks ended higher on Tuesday. Traders were cautious after rating agencies Crisil and ICRA downgraded their GDP growth projections for India for the ongoing financial year (FY23). Sentiments were boosted after India and the European Union (EU) signed an agreement on cooperation in various areas including climate modeling and quantum technologies.
“Technically, this pattern indicates an upside bounce in the market. The Nifty moved up on Tuesday from near the important cluster support of around 18,100 levels (20 days EMA, opening upside gap of November 11, and previous swing highs as per the concept of change in polarity). This is a positive indication,” Nagaraj Shetti, Technical Research Analyst at HDFC Securities said.
The Sensex rose 274.12 points or 0.45% to 61,418.96 while the Nifty was up by 84.25 points or 0.46% to 18,244.20 at the end of the trading session on Tuesday. The Sensex moved in a high-low band of 61,466.63 and 61,073.68. There were 25 stocks advancing against 05 stocks declining. The Nifty traded in a range of 18,261.85 and 18,137.70. There were 36 stocks advancing against 14 stocks declining on the Nifty index.
The broader indices ended mostly higher with the BSE MidCap index gaining 0.48% and the SmallCap index down by 0.10%. The top gaining sectoral indices on the BSE were Metal up by 0.82%, IT 0.75%, TECK 0.70%, Consumer Durables 0.67%, and Commodities 0.63%. While Realty down by 1.02%, Power 1.02%, Utilities 1.02%, Telecommunication 0.33%, and Oil & Gas 0.04% were only losing sectoral indices on BSE.
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India VIX Index
Nifty or India VIX, a gauge of the market’s expected volatility over the near term, fell 6.45% to 13.84 on Tuesday.
Support and Resistance level
The key support level for the Nifty is placed at 18,167, followed by 18,138 & 18,090. If the index moves up, the key resistance levels to watch out for are 18,262 followed by 18,291 and 18,339, according to pivot charts.
The S&P 500 rose 18.78 points, or 0.48%, to 3,965.34 points on Monday
The Dow Jones Industrial Average rose 199.37 points, or 0.59%, to 33,745.69 points.
The Nasdaq rose 110 points, or 0.0099%, to 11,146.06 points
The Russell 2000 index of smaller companies rose 10.61 points, or 0.58%, to 1,849.73 points.
Asian markets settled mostly mixed with the KOSPI Composite down by 0.59%, the Nikkei 225 up by 0.61%, Shanghai Composite up by 0.13%, and the Hang Seng down by 1.31%.
European markets ended higher on Wednesday. UK’s FTSE 100 rose 1.03%, France’s CAC rose 0.35%, and Germany’s DAX advanced 0.29%.
Bulk Deal data
Catalyst Trusteeship Limited sold 54,00,000 shares in Max Fin Serv Ltd at Rs 637.21 per share on the NSE.
Valuequest Investment Advisors Private Limited bought 9,84,000 shares in Kaynes Technology Ind Ltd at Rs 764.28 per share on the NSE.
Norges Bank On Account Of The Government Pension Fund Global bought 9,24,000 shares in Kaynes Technology Ind Ltd at Rs 751.16 per share on the NSE.
TNTBC As The Trustee Of Nomura India Stock Mother Fund bought 6,00,000 shares in Kaynes Technology Ind Ltd at Rs 723.1 per share on the NSE.
PGIM India Mutual Fund sold 1,86,200 shares in Rolex Rings Limited at Rs 1,923.16 per share on the NSE.
DII and FII data
Foreign institutional investors (FIIs) have sold shares worth a net of Rs 697.83 crore, whereas domestic 636.39 crore on November 22, as per data available on the NSE.
NSE F&O Ban
No securities are placed under the F&O ban for November 23. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.