Nifty futures on Singaporean Exchange have been trading 34 points or .23 per cent up at 14,724.50 on Singaporean Exchange, indicating a positive begin for BSE Sensex and Nifty 50 on Thursday. S&P BSE Sensex sits at 48,677.55, whilst NSE’s Nifty index closed at 14,617. Asian stock markets have been seen trading larger in early trade on Thursday. Investors will closely watch increasing COVID-19 circumstances, as India added yet another 4.12 lakh fresh circumstances in the last 24 hours. Also, marketplace participants will track Jan-Mar quarter final results, stock-certain developments, oil rates, rupee movement and other international cues on the day of weekly possibilities expiry.
Also study: Tata Consumer, IDBI Bank, Maruti Suzuki, Adani Power, Indian Bank, Hero MotoCorp stocks in concentrate
Global markets: Asian stock markets have been trading larger on Thursday. Investors of the Japanese stock marketplace returned to trade for very first time this week right after a 3-day vacation. Japan’s Nikkei jumped almost 2 per cent whilst the Topix index was up 1.97 per cent. South Korea’s Kospi rose .7 per cent. While Hong Kong’s Hang Seng index was up 1.15 per cent. In overnight trade, Wall Street’s principal indexes and the Dow hit a record higher on Wednesday. The Dow Jones Industrial Average was up .46 per cent, the S&P 500 was up .54 per cent, and the Nasdaq Composite was up .63 per cent.
Nifty assistance, resistance levels: The narrow variety activity continues but index recovered sharply from 14500/48250 assistance level. “The Nifty has formed inside the body candle formation near the 20 day SMA and index once again managed to close above the 20 day SMA level, which is broadly positive for the market. We are of the view that, in the short run 14500/ 48250 should be the sacrosanct support area for the positional traders, above the same we can expect the continuation of uptrend up to 14750/49200 further upside may also continue which could lift the index up to 14820/49850. On the flip side, trading below 14500/ 48250 could possibly open one more correction wave up to 14450, 14410/ 48000-47750,” mentioned Shrikant Chouhan, Executive Vice President (Equity Technical Research), Kotak Securities.
Q4 final results: As lots of as 25 BSE-listed firms which includes Adani Power, Adani Transmission, Coforge, Hero MotoCorp, Procter & Gamble Health Ltd, Praj Industries, Raymond Ltd, Solara Active Pharma Sciences Ltd and Tata Consumer Products are scheduled to announce their January-March quarter final results on May 6.
FIIs, DIIs information: On Wednesday, foreign institutional investors (FIIs) offloaded shares worth Rs 1,110.50 crore. Domestic institutional investors (DIIs) also sold shares worth Rs 240.61 crore on a net basis in the Indian equity marketplace.