Nifty and Sensex see modest gains, FIIs turn net buyers

The NSE Nifty was up by 0.24 per cent or 56 points at 23,521, while the BSE Sensex was at 77,172, up by 0.23 per cent or 179 points.

A total of 3,171 stocks were actively traded, 2,263 advanced, while 748 declined and 160 stocks remained unchanged, where 224 stocks hit a 52-week high, and 13 stocks hit a 52-week low at 9.30 am on Tuesday.

Deven Mehata, Research Analyst, Choice Broking, said, “The benchmark Sensex and Nifty indices are expected to open positive on June 18, following GIFT Nifty trends indicating a gain of 120 points for the broader index.

After a gap-up opening, Nifty can find support at 23,400, followed by 23,300 and 23,200. On the higher side, 23,550 can be an immediate resistance, followed by 23,650 and 23,700.

The Bank Nifty charts indicate that it may get support at 49,800, followed by 49,700 and 49,500. If the index advances further, 50,200 would be the initial key resistance, followed by 50,350 and 50,500.

Foreign institutional investors (FIIs) turned net buyers on June 14 as they bought equities worth ₹2,175 crore, while domestic institutional investors also bought equities worth ₹655 crore on the same day.

INDIAVIX was negative on Friday by 4.93 per cent and is currently trading at 12.8225.

“We saw a strong up-move in the Indian markets on Friday, with Nifty closing at all-time high levels. Bank Nifty also managed to close above 50000 levels, which indicate positive signals for the markets. Traders can hold with a trailing stop loss of 23300 on a closing basis.”

Major gainers on the NSE include Wipro (2.89%), Titan (2.55%), Adani Enterprises (1.73%), Mahindra and Mahindra (1.68%), Ltimindtree (1.41%). Major losers include, Maruti Suzuki (-1.94%), Dr Reddy laboratories (-0.93%), Divis Laboratories (-0.41%), Kotak Mahindra Bank (-0.37%), Tata Consultancy Services (-0.34%)

BSE smallcap was up by 0.54 per cent and midcap up by 0.097 per cent.

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