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Axis bank The Competition Commission of India has considered the proposed combination and approved the subscription to 14,25,79,161 equity shares of Max Life by the Bank. KEC International The company has secured new orders of Rs. 816 crores across its various businesses Brigade Enterprise Brigade Group signs a Joint Development Agreement for an Office Space in Whitefield, Bengaluru with a Development Value of Rs.340 Crores. Vedanta Vedanta Aluminium Expands Alumina Refining Capacity to 3.5 million tonnes per annum (MTPA)”. Anup Engineering Board fixed 23rd April 2024 as the Record Date for bonus issue Gufic Biosciences The company has incorporated a wholly owned subsidiary, “VEIRA LIFE FZE,” in Dubai for the marketing, distribution, and sale of pharmaceutical products. GE Power The company received orders worth Rs 774.9 crore from Jaiprakash Power. Suryoday Small Finance Bank The company reported disbursements at Rs 2,340 crore, up 39% YoY in the fourth quarter, gross advances at Rs 8,650 crore, up 41% YoY and total deposits at Rs 7,775 crore, up 50% YoY. RBL Bank The company reported total deposits at Rs 1.03 lakh crore, up 22% YoY as of March 31 and gross advances at Rs 85,640 crore, up 5% YoY. Vodafone Idea The board will meet on April 6 to consider share issuance proposals of equity and/or convertible shares on a preferential basis. L&T Finance Holdings The company reported retail loan book at Rs 80,010 crore in the fourth quarter, up 31% YoY and retail disbursements at Rs 15,030 crore, up 33% YoY
Thu. Apr 11th, 2024

Analyzing Nifty’s Trading Session: Insights and Outlook

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Market Outlook


The recent trading session in the Indian stock market unfolded with a mix of dynamics, showcasing both resilience and volatility across various indices and sectors. Let’s delve into a comprehensive analysis of the day’s events and their implications for market participants.

Nifty’s Performance:

The Nifty index started on a relatively flat note but swiftly gained momentum, experiencing a surge in buying activity during the initial hours of trading. Despite maintaining a narrow range between 22080 and 22200 for the remainder of the day, the index managed to close higher, recording a commendable gain of 0.70 percent.

Midcap Outperformance:

In contrast to the Nifty 50, the Nifty Midcap 100 index stole the spotlight by exhibiting robust performance, closing the session with a substantial gain of 2.15 percent. This surge in midcap stocks signals a broader bullish sentiment in the market.

Sectoral Performance:

Energy and Metals sectors emerged as top performers, showcasing strength amidst the trading session. On the flip side, Banking and Financial Services sectors faced challenges, displaying weaker performance and lagging behind other sectors.

Options Market Insights:

Analyzing the options market reveals valuable insights. The highest open interest on the call side at the 22500 level and on the put side at 22000 suggests a balanced outlook. Today’s option chain indicates balanced writing on both call and put sides, indicating a range-bound activity in the near term.

Market Indicators for Next Session:

Volume Weighted Average Price (VWAP) suggests a trading range for the next day between 21975 and 22360. Additionally, the Max Pain observed at the 22200 spot, along with the CE/PE Combined Residual Premium/Pain Value of 172.92 Crores, provides further guidance for market expectations.

Institutional Activity:

Foreign Institutional Investors (FIIs) were net sellers with an activity totaling 1356.29 crore in the cash market. In contrast, Domestic Institutional Investors (DIIs) exhibited net buying activity of 139.47 crore, showcasing a mixed sentiment among institutional investors.

In conclusion, the day’s trading session witnessed a blend of positive momentum and sectoral divergence. While the Nifty index closed higher, driven by midcap outperformance and strength in select sectors, challenges persist in others. Market participants are advised to closely monitor key levels and indicators for informed decision-making in the upcoming sessions.

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