FIIs net bought equities worth Rs 1,136.23 crore on Tuesday - ZENMoney

Domestic Indices opened the day on a positive note following firm global cues and better-than-expected RIL' Q2 numbers. However, gains in the markets were capped as investors' remained concerned over CPI inflation data, which came in at 9.84% YoY in September, increasing fears of further Repo rate hike in the coming RBI meet scheduled on Oct 29th. Also, Confederation of Indian Industry survey indicated that Indian economy is likely to grow by below 5%rate in the current fiscal dampened the investors' sentiment. Markets trimmed some of its' losses but continued to trade weak in the afternoon session in the absence of positive cues. Indices ended the day with marginal losses.

On a sectoral front, Banking and Realty sectors are top losers of the day over fears of interest rate hikes in coming RBI's Monetary policy. CDs, CGs, Power, Auto, Health Care and Oil&Gas are other losers of the day. Metal sector is the top gainer of the day followed by IT and FMCG sectors.

The Indian markets are likely to open on a flat note with a positive bias tracking global market movement and remain rangebound thereafter tracking domestic cues. Optimism over the US ending the 16 day fiscal impasse and averting the debt default ahead of the 17th October deadline is likely to boost global markets sentiments.

Back home, the ongoing earning season will continue to remain the key for the market movement in the near term. Few names coming out with their results today are Axis Bank, DB Corp, HCL Tech, South Indian Bank etc. Stock specific action is likely to witness in these counters based on the outcome of their results.

Crude prices are likely to remain range bound and get support from news that the 16 day US shutdown impasse has ended. The market will also be tracking the the talks between Iran and the world powers about Iran's nuclear weapons.

FIIs continued their buying spree into the Indian equities. As per provisional figures they net bought equities worth Rs 1,136.23 crore on Tuesday. Continuation of this trend can take the markets higher.

For the Nifty 6145, 6201, 6301 are the immediate resistance levels, while 6044, 6000, 5901 are its immediate support levels.

For the Sensex 20723, 20898, 21211 are the immediate resistance levels, while 20409, 20271, 19958 are its immediate support levels.

Source : Equity Bulls

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