SGX Nifty Indicates Positive Opening; Infosys, Wipro, Mindtree to Announce Results Today | Marketsmith India

Market Pulse: Confirmed Uptrend Distribution Day Count: Nifty50: Three Nifty Midcap100: Three Nifty Smallcap100: Three Global stock markets: Dow 30, -0.3%; Nasdaq, -0.1%; S&P 500, -0.2%; Nikkei, -0.2%; Kospi, +1.1%. Yesterday, Nifty started the session with mild cuts and made the day’s low of 17,864. In the afternoon, strong buying was seen as the index scaled 18,000 for the second consecutive session. The index closed just a tad below 18,000. Of Nifty50 stocks, 62% closed in the green, led by Titan Company (+5.5%) and Bajaj Auto (+3.3%). The broader market indices also closed higher, outperforming the benchmark indices. Barring Nifty IT (-0.9%), all the sectoral indices closed higher. Nifty PSU Bank (+3.1%) was the top gainer. Nifty Media, FMCG, and Metal closed 1.1–1.5% higher. The advance-decline ratio favored advancers. Of 2,049 stocks traded, 1,025 stocks advanced, 947 declined, and the remaining closed flat. The distribution day count currently stands at three. Further, Nifty is trading above all its key moving averages. We would like the index to continue trading above its key moving averages. We maintain a positive view on the market but if the index adds a couple of distribution days, stages a reversal, or breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Reducing exposure to stocks breaking below their 21- or 50-DMA on higher volume is important. Results Today: Infosys, Wipro (Nse), Mindtree (Nse), Aditya Birla Money, and others. Key News Power Finance: The Government of India granted Maharatna status to the company. Indusind Bank (Nse): RBI authorized the bank to collect direct and indirect taxes on behalf of the Central Board of Direct Taxes and the Central Board of Indirect Taxes and Costoms. Buy Watchlist: Sun Pharm.Industries, Tata Chemicals, Mastek (Nse), Bhansali Engr. (Nse), State Bank Of India, Berger Paints India, Ratnamani Metals & Tubes, Supreme Industries, and Vinati Organics Sell Watchlist: Knr Constructions, Rain Industries, and Balkrishna Industries Visit MarketSmith India to Read More About Indian Share Market News, Daily Market Tips, Model Portfolio etc.