Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Market Commentary

| More

Daily Markets - April 7, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Posted On: 2021-04-07 04:37:36 (Time Zone: Arizona, USA)


Indian benchmark equity indices ended higher for the second day in a row as benchmark indices saw buying interest in banking, auto and technology names post the MPC meet outcome. At close the NSE Nifty 50 gained 0.92% or 135.5 points to end at 14,819. Indian markets rose the most in the Asian region boosted by the outcome of MPC meet.

Volumes on the NSE were higher than recent average due to the MPC event today. Among sectors, PSU Bank, Nifty Bank, Auto and IT were the main gainers. The Nifty Midcap index rose 1.3% while the Smallcap index ended with gains of 1.7% in today's session. While the 10 year Bond yields fell about 4 bps from yesterday to 6.08% post the announcement of GSAP in MPC meet, the Rupee fell almost 1.5% - its biggest single-day drop since August 2019 to end at 74.56, which is the lowest level in over four months due to the same reason of easy monetary policy and accommodative stance being retained.

Asian markets were mixed Wednesday as investors took a breather following a recent run-up, though another round of healthy data provided cause for continued optimism over the global recovery. European stocks hovered near all-time highs on Wednesday as hopes for a global economic recovery from the pandemic continued to fuel investor optimism. The Eurozone composite PMI, which combines manufacturing and services and is seen as a useful gauge of economic health, came in at 53.2, up from 48.8 in February and above the 52.5 flash estimate.

A gauge of India's services sector eased but remained in the expansion zone for the sixth straight month. The India Services Business Activity Index, compiled by IHS Markit, stood at 54.6 in March 2021 compared with 55.3 in February. The Composite PMI Output Index, too, dropped to 56 in March from 57.3 in February.

Nifty took resistance exactly from the anticipated level of 14880 on April 07 despite multiple attempts to breach it post 1100 Hrs and closed about 60 points lower. 14883 continues to be resistance for the Nifty while a breach of 14629-14776 could result in some more weakness. A move above 14883 could take the Nifty to 15050 soon.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Market defends key levels, real action seen in numerous themes : Angel Broking

Rupee - May 7, 2021 - Reliance Securities

Daily Markets - May 7, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - May 7, 2021 - Bonanza Portfolio

Post Market views - May 7, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - May 7, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - May 6, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Slowly and steadily market continues its upward march : Angel Broking

Daily Market Commentary - May 6, 2021 - Bonanza Portfolio

Post Market views - May 6, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - May 6, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - May 5, 2021 - Reliance Securities

RBI Governor boosts traders' sentiments, Nifty reclaims 14600 : Angel Broking

Daily Markets - May 5, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - May 5, 2021 - Bonanza Portfolio

Technical View - May 5, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - May 4, 2021 - Reliance Securities

Technical View - May 4, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - May 4, 2021 - Bonanza Portfolio

Daily Markets - May 4, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - May 4, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - May 3, 2021 - Reliance Securities

Daily Markets - May 3, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - May 3, 2021 - Bonanza Portfolio

Daily Markets - April 30, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Tail end correction spills water on bulls' comeback : Angel Broking

Post Market views - April 30, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - April 30, 2021 - Reliance Securities

Daily Market Commentary - April 30, 2021 - Bonanza Portfolio

Technical View - April 30, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - April 29, 2021 - Reliance Securities

Daily Markets - April 29, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Technical & Derivatives Report - 29th April 2021: Angel Broking

Daily Market Commentary - April 29, 2021 - Bonanza Portfolio

Post Market views - April 29, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - April 29, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - April 28, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Technical View - April 28, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - April 28, 2021 - Reliance Securities

Daily Market Commentary - April 28, 2021 - Bonanza Portfolio

Post Market views - April 28, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Domestic and global factors triggers head start for the week : Angel Broking

Technical View - April 27, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - April 27, 2021 - Reliance Securities

Daily Market Commentary - April 27, 2021 - Bonanza Portfolio

Daily Markets - April 27, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - April 27, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Markets - April 26, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - April 26, 2021 - Reliance Securities

Daily Market Commentary - April 26, 2021 - Bonanza Portfolio


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020