Indian equity
benchmarks rebounded their early session losses to post modest gains on Tuesday
following fag-end buying in Oil & Gas up, Energy and Metal stocks and a
recovery in global equities. Markets made negative opening and stayed in red
for most part of the day, on the back of persistent foreign fund outflows.

The Nifty50 has
formed a reasonable positive candle on the daily chart following a gap-down
start, suggesting the emergence of buying interest at the lows, according to
Nagaraj Shetti, Technical Research Analyst at HDFC Securities. He sees the
possibility of more upside towards the next important resistance level of
16,180.

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Indian Indices

Sensex rose 16.17 points or 0.03% to 53,177.45 and the
Nifty was up by 18.15 points or 0.11 % to 15,850.20 in the previous session. Sensex
touched high and low of 53,301.40 and 52,771.53, respectively. There were 17
stocks advancing against 13 stock declining on the index. Nifty traded in a
range of 15,892.10 and 15,710.15. There were 32 stocks advancing against 17
stocks declining on the index, while 1 stock remained unchanged on the index.

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Broader Indices

The broader indices ended in green with the BSE Mid cap
index up by 0.18% and the Small cap index up by 0.24%. On the sectoral front,
Oil & Gas was up by 2.54%, Energy was up by 2.45%, Metal was up by 1.97%,
Auto was up by 1.26% and PSU was up by 0.85%, while Consumer Durables was down
by 1.49%, Telecom down by 1.05%, Bankex down by 0.46%, Consumer Disc down by
0.05% and Power down by 0.02% were the top losing indices on BSE.

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India VIX Index

Nifty or India VIX, a
gauge of the market’s expectation of volatility over the near term, rose 2.12%
to 21.45 on Tuesday.

SGX Nifty

The trends on SGX Nifty indicate
a negative opening for the index in India with 168 points loss. The Nifty futures were trading
at 15,685.00 on the Singaporean Exchange
around 06:40 hours IST.

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Support and
Resistance levels

The
key support level for the Nifty is placed at 15,743, followed by 15,636. If the
index moves up, the key resistance levels to watch out for are 15,925 and
15,999, according to pivot charts.

US Markets

The S&P 500 fell 78.56 points, or 2%, to 3,821.55.

The Dow Jones Industrial Average fell 491.27 points, or 1.6%, to 30,946.99.

The Nasdaq fell 343.01 points, or 3%, to 11,181.54.

The Russell 2000 index of smaller companies fell 32.90 points, or 1.9%, to 1,738.84.

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Asian Markets

Asian markets ended
mostly higher on Tuesday. The Nikkei 225 rose 0.66%, the Hang Seng rose 0.85%
and the Shanghai Composite rose 0.89%.

European Markets

European markets
ended higher on Tuesday, Germany’s DAX was up by 0.35%, London’s FTSE 100 was up
by 0.90% and France’s CAC 40 was down by 0.64%.

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Major News Headlines

Mukesh Ambani resigns as Director of Reliance Jio, son
Akash named chairman

Reliance Jio Infocomm Ltd, the digital arm of Indian
conglomerate led by Mukesh Ambani’s Reliance Industries Ltd, on Tuesday
announced that Ambani would resign as the director of the company effective
from June 27. It is reported that the firm had appointed non-executive director
and Ambani’s son Akash Ambani as the chairman of the board. It also said that
Pankaj Mohan Pawar will take over as the Managing Director of the company from
June 27.

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Tata Steel boost NINL operation to 1.1 MTPA within a year
says Chairman

Tata Steel Chairman N Chandrasekaran said the company,
after completing the acquisition, will boost the operation of Neelachal Ispat
Nigam Limited to a rated capacity of 1.1 million tonnes per annum within the
next year. However, the boosting up of the operations of Neelachal Ispat Nigam
Limited (NINL) would be subject to obtaining statutory clearances.

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Glenmark Pharmaceuticals acquires Wockhardt’s key OTC
brands in US for undisclosed amount

The Mumbai-based company said it has acquired the approved
generic versions of certain over-the-counter drugs from Wockhardt Limited in
the US for an undisclosed amount. The move is expected to strengthen the
acquirer’s OTC presence in the US. The acquisition includes the approved
abbreviated new drug applications (ANDAs) for famotidine tablets, 10 mg, and 20
mg, used to treat and prevent ulcers in the stomach and intestine, the company
said in the statement.

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State Bank of India acquires 9.54% stake in Perfios Account
Aggregation Services

The country’s largest public-sector lender has entered into
an agreement for the investment of Rs 4 crore in equity shares of Perfios
Account Aggregation Services Private Limited, the NBFC account aggregator. This
investment would be subject to approval from the Reserve Bank of India (RBI).
SBI will hold a 9.54% stake in Perfios Account Aggregation Services.

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Bulk Deal data

SAVITRI RATHI bought 1,80,000
shares in Adroit Infotech Limited at Rs 16.15 per share on the NSE.

S K GROWTH FUND PVT.LTD sold
1,04,000 shares in Ambani Organics Limited at Rs 109.20 per share on the NSE.

AJAY HARKISHANDAS MEHTA sold
5,00,000 shares in Compuage Infocom Limited at Rs 22.93 per share as per NSE.

EARC TRUST SC 30 sold 90,601
shares in Electrotherm (India) Limited at Rs 92.67 per share on the NSE.

HEMAL ARUNBHAI MEHTA bought
67,500 shares in Globe Intl Carriers Limited at Rs 75.59 per share on the NSE.

JTEKT CORPORATION sold 13,00,000
shares in JTEKT India Limited at Rs 77.60 per share as per NSE.

MULTIPLIER SHARE AND STOCK
ADVISORS PRIVATE LTD bought 1,50,000 shares in Nucent Finance Limited at Rs
44.14 per share on the NSE.

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DII and FII data

Foreign institutional
investors (FIIs) sold shares worth a net Rs 1,244.44 crore, while domestic
institutional investors (DIIs) bought shares worth a net Rs 1,205.63 crore in
the Indian equity market on June 28, as per provisional data available on the
NSE.

NSE F&O Ban

Delta Corp and Sun TV
Network are under the F&O ban for June 29. 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.