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MTECHTIPS:-Technical Snapshot:
The Nifty futures failed to sustain the gains they amassed in the early part of session. The frontline gauges traded with strong momentum for most part of the day but drifted to lower levels in the last leg of trade to settle with slight gains. Coming after a day’s consolidation, the benchmark gauges got off to a promising start, tracking sanguine cues, which the Asian markets exhibited. Most markets in the region, which suffered nasty lacerations of over two percent in last session, bounced back as investors turned hopeful ahead of the meetings of Euro-zone policymakers and the wider group of seven (G7) industrialized nations to discuss various measures to avert an onerous financial crisis in the European Union, including greater fiscal
integration in the euro zone.On the sectoral front, the investors resorted to hefty short covering in the Capital Goods counter, which surged around two percent and remained the top gainer in the space. The rate sensitive Bankex index too traded with notable gains of around a percent and provided the much needed support to the benchmarks. On the flipside, the high beta Realty sector along with defensive FMCG pocket got battered by over a percent and capped the upside chances for the markets.The markets rose on weaker volumes of over Rs 1.13 lakh crore on the third day of a new F&O series while the turnover for NSE F&O segment also remained on the lower side as compared to that on Monday, at over Rs 0.73 lakh crore.
The Nifty futures failed to sustain the gains they amassed in the early part of session. The frontline gauges traded with strong momentum for most part of the day but drifted to lower levels in the last leg of trade to settle with slight gains. Coming after a day’s consolidation, the benchmark gauges got off to a promising start, tracking sanguine cues, which the Asian markets exhibited. Most markets in the region, which suffered nasty lacerations of over two percent in last session, bounced back as investors turned hopeful ahead of the meetings of Euro-zone policymakers and the wider group of seven (G7) industrialized nations to discuss various measures to avert an onerous financial crisis in the European Union, including greater fiscal
integration in the euro zone.On the sectoral front, the investors resorted to hefty short covering in the Capital Goods counter, which surged around two percent and remained the top gainer in the space. The rate sensitive Bankex index too traded with notable gains of around a percent and provided the much needed support to the benchmarks. On the flipside, the high beta Realty sector along with defensive FMCG pocket got battered by over a percent and capped the upside chances for the markets.The markets rose on weaker volumes of over Rs 1.13 lakh crore on the third day of a new F&O series while the turnover for NSE F&O segment also remained on the lower side as compared to that on Monday, at over Rs 0.73 lakh crore.
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