Markets turn mute over mixed Fed signal and continuous Trump rhetoric
In the early morning session, the GIFT Nifty was down 0.1% at 25,193, indicating a lower open for the benchmark Nifty 50. US and European equity futures were trading mixed during Asian hours. S&P 500 futures was up 0.1% while Euro Stoxx 50 futures down 0.5%. Earlier, the NSE Nifty 50 ended 0.13% lower at 25,169.50 and the BSE Sensex closed 0.07% down at 82,102.10.
Foreign portfolio investors stayed net sellers of Indian shares for the second straight session on Tuesday amid the benchmark Nifty ending in the red for the third consecutive session. The FPIs sold stocks worth approximately Rs 3,551.19 crore, according to provisional data from the National Stock Exchange. The Domestic institutional investors stayed net buyers for the 21st session and bought stakes worth Rs 2,670.87 crore. In the last week, FPIs sold a stake worth Rs 1,192.80 crore.
Fundamental Update
- Infosys - The company has extended its strategic collaboration with Switzerland's Sunrise to accelerate IT transformation and power AI-driven initiatives.Positive
- Minda Corporation -The company will start commercial production of EV components from the beginning of FY26.Positive
- HCL Technologies - The company has renewed and expanded its digital transformation pact with a Swedish auto manufacturer for AI services.Positive
- Havells India - The company has announced that Lloyd Kolors refrigerators are now available on Flipkart and other distribution channels, starting at Rs 18,990.Positive
Technical Update
- NIFTY – Nifty traded weaker during yesterday’s session and closed 33 points lower at 25,169. Index tested support at 17 day EMA at 25,070 and recovered. Resistance lies at 25,300. Today’s range 25,050 – 25,300.
- BANKNIFTY – Bank nifty recovered smartly by over 300 points to settle at 55,505 on Tuesday. Index took support at 50 day EMA of 55,200 while resistance lies at 55,800. Today’s range – 55,200 – 55,800.
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