Bullish day for Indian markets

Raging bulls charged up the markets to end Tuesday’s session with more than one per cent gain. Indian markets witnessed blue chip stock-specific movements on an intra-day basis. HDFC Bank, Zee Entertainment and HCL Technologies have beaten street estimates on Q3FY17 results.

Nifty was able to cross the level of 8,450. BSE Sensex and Nifty indices increased 0.95 per cent and 1.50 per cent, respectively. At the closing bell, Nifty rose 84 points to close at 8475 and the BSE Sensex increased 258 points to close at 27375. On the NSE, 44 shares closed in the green, while 7 shares ended the day in the red.

All sectoral indices closed in the green, except IT. Auto index surged more than 350 points. Bankex, Consumer Durables rose 180 points and 136 points. Metals and Oil & Gas rose 193 points and 165 points. However, IT index declined 17 points. Mid-cap and Small-cap indices increased 121 and 109 points, respectively.

Asian markets closed on a mixed note on Tuesday. Shanghai rose 0.18 per cent, Hang Seng increased 0.22 per cent. However, Nikkei declined 0.55 per cent. KOSPI remained flat to negative by 0.01 per cent but Taiwan’s TAIEX rose 0.25 per cent.

European markets were also trading in positive territory.

Derivative Analysis

Nifty future closed on a positive note and closed at 8487. Going ahead, 8538/8466 will be the immediate support levels.