Local stock markets gained momentum on Tuesday amid a positive trend in the global markets, although gains on the India-China border narrowed. The Sensex gained 376.42 points or 1.13 percent to close at 33,605.22 points. During the day, it totaled 1,069 points and went up and down. Nifty also gained 100.30 points or 1.02 percent to close at 9,914 points.
The US central bank, the Federal Reserve, has announced a major program to help companies affected by the enforced lockdown caused by the corona virus. This led to a positive trend in global markets, which also strengthened sentiment here. The Federal Reserve Bank has announced easy access to 'Main Street' (business companies) for $ 750 billion of corporate bonds under the Debt and Emergency Facility Program. Today, the movement of the stock market will depend on the below:
1. The Indian stock market will definitely be affected by the border dispute with China. The American Fed's decision gave Manglawar a boost in the stock market, but the market collapsed with news of soldiers being killed. At one time during the trade, it was also trading in red marks. It was earlier reported that three Indian soldiers were martyred. Now the news came for more than 20 soldiers have been martyred and their number may also increase.
2. The impact of the US Fed's announcement to buy bonds also appeared in other Asian markets. Among other Asian markets, China's Shanghai Composite, Hong Kong's Hangseng, Japan's Nikki and South Korea's Cospi climbed five percent.
3. The US stock market is on the upswing after the Federal Reserve's decision. Nasdaq and Dow Jones have recorded a rise of around 2.5 per cent at 11 pm on Tuesday night.
4. The rupee fell 17 paise to close at 76.20 against the dollar in the interbank foreign exchange market due to violence with Chinese troops. This is the minimum level of six weeks.
5. Brent crude oil futures rose 1.41 percent to $ 40.28 per barrel in the international market due to the strengthening of the dollar.
6. According to technical indicator MACD, Tata Motors, Power Grid Corporation, L&T, HCL, Tech Mahindra, Tata Steel BLL, Asian Paints are showing bearish trends. Tata Motors and Mahindra & Mahindra suffered significant losses in the March quarter. In such a situation, pressure on the stock is bound to increase.
7. According to MACD, shares such as Tata Communications, Balaji Amiens, Kriti Industries, Bharat Dynamics, Lumax Auto Technology, Balaji Telefilms are expected to gain momentum.
8. So far, 10 investors have invested over one lakh crore in Reliance. Today its stock reached an all-time high. The stock has risen 90% in the last two months.
In such a situation, there is tremendous trade in its stock. Tuesday's most active stocks were Reliance, Axis Bank, Bajaj Finance, IndusInd Bank, HDFC Bank and Tata Motors. HDFC Bank is Tuesday's top gainer on SENSEX.
9. On Wednesday, quarterly results of companies like Pidilite Industries, Indraprastha Gas, Muthoot Finance, Fortis Healthcare, JK Cement, Lumax Auto, Navneet Education is going to declared.
10. Navin Fluorine International reported a profit of 272 crores in the fourth quarter. Exactly one year ago this figure was 35 crores. Similarly, NMDC reported a profit of 347 crores in the fourth quarter. Exactly one year ago it was 1451 crores.
11. On Tuesday, FII sold 1478 crore shares, while DII bought 1161 crore shares.
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