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Nifty

 • Equity benchmark indices Sensex and Nifty extended their winning streak for a third consecutive session, with the Nifty closing near the 24,000 mark, supported by improving global sentiment following an interim peace agreement between the United States and Iran. The agreement, which includes the reopening of the Strait of Hormuz, along with a sharp decline in crude oil prices to a four-month low below $82 per barrel, boosted investor confidence and fueled gains across global equity markets.

• Market sentiment was further strengthened by the stability of the rupee and renewed foreign institutional investor (FII) participation. FIIs turned net buyers in the previous sessions, purchasing equities worth approximately Rs200 crore for the first time this month. Expectations of easing geopolitical tensions in the Gulf region, coupled with lower energy prices reducing inflationary pressures, also contributed to the positive momentum.

• The Nifty advanced 139 points, or 0.6%, to close at 23,989, while the Sensex gained 544 points, or 0.7%, to settle at 76,826. Over the past three trading sessions, the Nifty has surged more than 600 points, or over 2.5%, driven by optimism surrounding the US-Iran peace framework, which marks the first significant step toward ending a nearly fourmonth conflict that had disrupted global energy markets.

• Sectorally, the Nifty Realty and Nifty IT indices emerged as the top performers, each gaining around 2%. Realty stocks such as Prestige Estates, Brigade Enterprises, Macrotech Developers (Lodha), and DLF rallied between 2% and 5%.

Technical Outlook:

• Nifty index opened with a gap up of around 70 points and traded in a narrow range in the first half of the session above 23900 marks. Buying interest strengthened in the latter half as the index made multiple attempts to reclaim the psychological 24K zones. The index formed a bullish candle on the daily chart and settled near the day’s high with gains of around 140 points. Now it has to hold above 24000 zones for an up move towards 24200 and 24400 levels while on the downside, support can be seen at 23880 and 23750 zones.

• S&P BSE Sensex opened on a positive note and inched higher in a slow and steady manner for most part of the session. However momentum remained muted as index lacked strong follow through buying. Bulls continued to hold their grip as the index managed to sustain its gains at higher levels. It formed a bullish candle on the daily chart and continues to form higher highs - higher lows for the fourth consecutive session. Now it has to hold above 76700 zones for an up move towards 77200 then 77500 zones while supports are shifting higher at 76500 and then 76300 zones.

Derivative Outlook:

• Nifty future closed positive with gains of 0.38% at 24007 levels. Positive setup seen in Prestige, Bajaj Finance, Bandhan Bank, Divis Lab, Petronet, Premier Energies, Chola Finance, DLF, Lodha and HDFC AMC while weakness seen in National Aluminium, Hindalco, Solar Industries, JSW Steel, Jindal Steel, MFSL, Mankind, Zydus Life, Torrent Power, and Fortis.

• On option front, Maximum Call OI is at 24000 then 25000 strike while Maximum Put OI is at 24000 then 23400 strike. Call writing is seen at 24000 then 25000 strike while Put writing is seen at 24000 then 23900 strike. Option data suggests a broader trading range in between 23500 to 24500 zones while an immediate range between 23700 to 24200 levels.

• Adani Ports – Company expanded its strategic partnership with Kaleris to deploy AI-augmented terminal operating systems and advanced container handling solutions across 15 container terminals spanning nine ports. The company plans to invest up to $100 million in two phases for automation and optimization through the Kaleris partnership.

• TCS – Company will book a one-time exceptional charge of $70mn after the U.S. Supreme Court rejected its appeal in a trade secrets case, bringing its total exposure in the matter to $220 million.

• Dr Lal PathLabs - Company announced the incorporation of a wholly owned subsidiary in Dubai as part of its international expansion plans.

• Grasim Inaugurates - Company has inaugurated the first phase of its Chlorinated Polyvinyl Chloride (CPVC) resin manufacturing plant at Vilayat, Gujarat. The newly inaugurated Phase I facility has a planned capacity of around 50,000 metric tonnes per annum. The broader project envisages a total capacity of 100,000 metric tonnes annually once fully completed.

• Welspun Living – Company has successfully commenced partial commercial production at its new pillow manufacturing facility in Nevada, USA.

• HEC Infra – Company won order worth Rs34.82cr.

• Inox Wind – Company signed a massive Memorandum of Understanding (MoU) with Inox Clean Energy to supply 1,500 MW of advanced wind turbines across India. This milestone order solidifies multi-year order visibility and accelerates the clean energy platform's goal of reaching a 14 GW operational portfolio by FY29.

• PNB Gilts - Global funds bought a record 140.3 billion rupees ($1.5 billion) of Indian government bonds Monday, signaling latest efforts by authorities to boost capital flows into the country are yielding results.

• Mini Diamond – Company gets order worth Rs16.25cr. • Marine Electric – Company won orders worth Rs76.38cr

Global Market Update

• European Market - European stocks edged higher, building on Monday’s record close, as investors assessed prospects for a reopening of the Strait of Hormuz later this week. UK, Germany and France Index marginally gained.

• Asian Market – Asian stocks wavered as investors paused to assess the durability of the relief rally fueled by the US-Iran deal to reopen the Strait of Hormuz. The Bank of Japan raised its benchmark rate by 25bps at 1% as expected to the highest level since 1995.

• US Data - Exports, Import, Building permit.

• Commodity - Oil prices dropped over 1% to 4-month low at below $83/bbl after the U.S. and Iran reached an interim peace deal, marking the first major step toward ending a nearly four-month conflict that has roiled global energy markets. However, investors continue to await further details on the U.S.-Iran agreement to bring the Middle East conflict to an end.

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