Indian Indices:
Indian equity benchmarks are likely to witness a positive opening on Tuesday amid a bullish trend across global markets. SGX Nifty is trading at 27.50 points high. The focus today will be on the June inflation data and the May IIP numbers.
The next big trigger for markets is Q1 corporate earnings with IT major Infosys and TCS set to unveil their April-June 2016 financial results this week, while the forthcoming monsoon session of the Parliament beginning on July 18 is also being keenly eyed.
Indian shares rallied to their highest level in nearly 11 months on Monday, tracking a rise in global markets after strong US monthly jobs data reassured investors about the health of the world's largest economy. The S&P BSE Sensex and CNX Nifty rose 1.84%-1.74% each
On Monday (July 11, 2016), The broader NSE Nifty closed up 1.74 percent at 8467.9, while the benchmark BSE Sensex ended up 1.84 percent at 27,626.69, after both hit their highest since August 20
Global Market:
Asian stocks rose to a 2-1/2-month peak on Tuesday, a day after Wall Street shares hit a record high thanks to a combination of upbeat U.S. data and expectations of more stimulus from global policymakers.
European share index rose on Monday to post its highest close since Britain voted to leave the European Union, after Theresa May won the race to succeed David Cameron as Prime Minister, reducing political uncertainty in the UK.
U.S. stocks opened higher Monday, on track to close at fresh 2016 highs, as the market continued to build on Friday’s gains after June’s official jobs report came in significantly above expectations. The S&P traded above its previous all-time closing high, set in May 2015. A rise in oil prices also helped boost risk appetite
Major Headlines of the day:
• Coal India to use Rs3,650 cr from reserves to buy back shares
• Emami's FY16 spend on branding at Rs531 crore
• Apollo Hospitals signs MoU with Stanford University
Trend in FII flows: The FIIs were net buyers of Rs 1055.8 Cr in the cash segment on Monday while the DIIs were net sellers of Rs -610.57 Cr, as per the provisional figures.
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The dynamics of market are exactly the same as on Tuesday. After crossing the psychological 8400 level, the NIFTY has without much an effort crossed onto the intermediate RESISTANCE of 8530 level & crossed it on the intraday basis. The NIFTY is still maintaining the ‘Higher Top Higher Bottom’ formation, both on Daily as well as Weekly charts; which shows that the Bullish momentum is holding on. Get more updates by following epic research .
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