Indian equity benchmarks will remain closed on Wednesday to mark Muharram, as per the BSE website. The equity segment, equity derivative segment and the SLB (Security Lending and Borrowing) segment will be closed. Currency Derivatives Segments will remain shut as well.
Commodity derivatives and electronic gold receipts segments will be closed during the morning trading session, but trading will resume in the evening from 5 pm to 11:30/11:55 pm.
During the previous session on Tuesday, domestic benchmarks scaled their fresh all-time high levels, led by gains in FMCG, technology and realty stocks. The 30-share BSE Sensex pack hit a lifetime high of 80,898 before settling 52 points or 0.06 per cent up at 80,717. The broader NSE Nifty index touched a record peak of 24,661. It eventually closed 26 points or 0.11 per cent higher at 24,613.
Mid- and small-cap shares also registered record highs but ended flat, with the Nifty Midcap 100 ending unchanged and Nifty Smallcap 100 climbing 0.08 per cent. India VIX, fear index, shed 0.24 per cent to 14.22-level.
Six out of the 16 sectoral indices on NSE settled in the green. Sub-indices Nifty FMCG, Nifty IT and Nifty Realty outperformed the index by rising 0.96 per cent, 0.59 per cent and 1.66 per cent, respectively. In contrast, Nifty Media and Nifty Healthcare saw a correction of 1.03 per cent and 0.40 per cent, each.
On BSE, frontline stocks such as Bharti Airtel, ICICI Bank, Infosys, Hindustan Unilever Ltd (HUL), ITC, Mahindra & Mahindra, Tech Mahindra, Asian Paints, Tata Consultancy Services (TCS) and Titan were the major contributors to the rise. In addition, BSE 500 stocks such as Chennai Petroleum, Alembic Pharma, Natco Pharma, Supreme Petrochem, Century Textiles, Tata Teleservices, India Cements and Blue Dart Express zoomed up to 11.65 per cent.
On the flip side, Godfrey Phillips, Jupiter Wagons, Zomato, MMTC, IDBI Bank, IRCON International, Oil India, Hindustan Aeronautics Ltd, Jio Financial, Five-Star Business and Authum Investment fell up to 6.08 per cent.
Out of a total of 4,008 stocks that traded on BSE during the last trade, 1,976 settled with losses while 1,943 others ended higher. The remaining 89 stocks stayed unchanged.
The domestic bourses will reopen on July 18, 2024 (Thursday).
Nifty outlook
For Nifty, there could be a short-term uncertainty prevailing, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C Mehta Investment Interrmediates Ltd. "24,661 will act as a short-term hurdle for the index. If it manages to close above it, the rally can extend towards the 24,800-25,000 levels," Yedve added.
Nifty Bank outlook
Nifty Bank is consolidating in a narrow band but holding above 51,960 level. The recent swing low is situated near 51,750. As long as the index holds 51,750, a buy-on-dips strategy should be adopted. On the upside, 52,800 and 53,000 will serve as strong resistance levels," Yedve stated.