BSE Sensex and Nifty 50 ended at a record closing higher on Tuesday, lifted by strong purchasing in FMCG and economic stocks. The marketplace capitalisation of BSE-listed providers jumped to a record higher of Rs 240 lakh crore. BSE Sensex ended at fresh record closing higher of 53,823.36, up 872.73 points or 1.65 per cent. Nifty 50 ended 242 points or 1.52 per cent greater at record close of 16,126.65. During the intraday bargains, Sensex hit a record higher of 53,888 and Nifty 16,146.90 levels. India VIX, the volatility index, surged 7.36 per cent to settle at 13.75 levels. The broader marketplace underperformed the equity marketplace benchmarks, even soon after surging to record higher levels throughout the day.
Sumeet Bagadia, Executive Director, Choice Broking
On the technical front, the index has ultimately provided a breakout of 16000 phycological levels and provided closing above the identical suggests a bullish movement in the upcoming day. Furthermore, the Index has provided breakout above the Upper Band of Bollinger, which signifies strength for the next session. Momentum indicator MACD has also shown positive crossover on the each day time frame which suggests an upside rally in the counter. On a each day chart, the Index has formed Bullish Marabozu Candle, which adds strength to the counter. At present, the nifty help shifted to 15800 level although resistance comes at 16150 levels.
Vinod Nair, Head of Research, Geojit Financial Services
Progressive financial information indicates a powerful rebound from effect of the second wave. All key domestic information like PMI index, GST collection, corporate earnings, export information, and so forth favour a powerful recovery. This has added euphoria in domestic marketplace reaching new highs along with context to a drop in international danger soon after the accommodative monetary & fiscal policy announcements. A related monetary policy is anticipated from ongoing RBI meeting.
Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty brushed previous by way of 16000 levels simply and closed greater. However, volumes and AD ratio (equal on such a day) do not give confirmatory signals. However, momentum is in favour. Hope that India will be a beneficiary of the current troubles faced by China is maintaining sentiments upbeat. While valuations look higher, there is no point in pre-empting a best, but rather wait for indicators of medium-term adjust in trend.
Sneha Poddar, AVP – Research, Broking & Distribution, Motilal Oswal Financial Services
Nifty today ultimately managed to break its two-month-extended consolidation to touch the most awaited level of 16k. It had shown powerful resilience because the start out of June and moved in a incredibly narrow variety regardless of weak international cues and ultimately managed to leap forward towards 16000 zone. What definitely supplied help to the marketplace was the 1QFY22 earnings report which begun on a incredibly healthful note regardless of the Covid 2. effect. It helped the marketplace to largely sail by way of the headwinds of a achievable third COVID wave, commodity led inflation and volatility about the US Fed taper speak. The harm from the second COVID wave and the consequent lockdowns in April’21/May’21 has been substantially lesser than that from the 1QFY21 national lockdown. Management commentaries across the board recommend an enhanced demand atmosphere post June’21, led by the easing of restrictions, reduced active COVID-19 instances, and a pickup in vaccinations. We estimate corporate earnings to continue to recover, as the underlying economy opens up, with progressively greater vaccination trends, as a result supplying several bottom-up possibilities.
Ronak Gala, Fund Manager, AlphaQuest by tarrakki
Markets touching all time higher is a mixture of different things such as international liquidity, decent operational overall performance various sectors and different government help schemes. However one should really not get carried away by the buoyancy in the markets as some indicators of strain are visible as well. Most notable amongst them are the higher provisions carried out by most banks in Q1FY22. So a sensible approach is to focus on segments in the markets which are facing genuine tailwinds and are nevertheless out there at affordable rates.