IGI Logo

• Equity benchmark indices ended sharply higher, with the Sensex gaining nearly 800 points and the Nifty closing above the 24,000 mark, supported by easing geopolitical tensions in the Gulf region, a decline in crude oil prices to a four-month low below $76 per barrel, and optimism surrounding a potential US-Iran peace agreement. Investor sentiment was further boosted by reports indicating that more oil tankers are freely navigating through the Strait of Hormuz, along with signs of progress towards reducing tensions between the US and Iran.

• The Nifty advanced 197 points, or 0.8%, to close at 24,021, while the Sensex rose 790 points, or 1%, to settle at 76,991. Sectorally, most indices ended in positive territory, with Nifty IT, Realty, Financial Services, and Textile emerging as the top gainers. Nifty Financial Services gained 1.5% after the RBI allowed Indian banks to lend against overseas foreign currency deposits. However, the Nifty Defence index witnessed profit booking during the session.

• Among global markets, US futures traded in a mixed trend. European equities stabilized following the previous session’s technology-led decline, while Asian markets ended lower amid weakness in TSMC and other technology stocks on concerns over the sustainability of AI-driven demand and elevated valuations.

 Technical Outlook:

• Nifty index opened flattish and witnessed strong buying interest right from the beginning of the session as bulls stepped in to defend the crucial support zones. The index remained firmly positive throughout the day indicating a recovery in sentiment. The ability to hold key support levels and sustain gains reflected renewed buying interest at support levels. It formed a bullish candle on the daily time frame and closed with gains of around 200 points. Now it has to hold above 24000 zones for an up move towards 24200 then 24300 zones while support can be seen at 23950 then 23800 zones.

• S&P BSE Sensex index opened on a flattish note and bulls took charge right from the initial tick. The index managed to hold above the previous day’s low of 76100 zones and witnessed sustained buying throughout the session. It extended its move towards 77200 zones with every minor dip getting absorbed by thebuyers. It formed a bullish candle on the daily chart and continues to hold well above its 20 DEMA indicating that the short term trend remains positive. Now it has to hold above 77000 zones for an up move towards 77500 then 77700 zones while supports are seen at 76500 and then 76200 zones.

Derivative Outlook:

• Nifty future closed positive with gains of 0.84% at 24053 levels. Positive setup seen in Exide Industries, Chola Fin, Indigo, AU Bank, Trent, Oberoi Realty, Bajaj Finance, Shriram Finance, Lodha and AB Capital while weakness seen in IRFC, Siemens, Swiggy, NTPC, National Aluminum, ONGC, Voltas and TMPV.

• On option front, Maximum Call OI is at 24200 then 24000 strike while Maximum Put OI is at 24000 then 23900 strike. Call writing is seen at 24050 then 24300 strike while Put writing is seen at 24000 then 23900 strike. Option data suggests a broader trading range in between 23600 to 24400 zones while an immediate range between 23800 to 24200 levels.

• Biocon - Company's partner Duopharma Biotech wins MYR 225M insulin tenders in Malaysia, reinforcing Biocon's commitment to diabetes care and expanding access to affordable insulin therapies.

• Shilpa Medicare - Company’s subsidiary Shilpa Biologicals, launches a cutting-edge ADC GMP manufacturing facility, advancing India's position in global oncology drug production.

• Unicommerce – Company integrates with Swiggy Networks to streamline B2B order processing, enabling brands to manage bulk orders efficiently via a centralized dashboard.

• Bharat Dynamics Limited – Company wins Rs 1347.71 crore order from Hindustan Aeronautics Limited for Helina Launchers, LRUs, and CMDS LRUs, boosting its defense portfolio.

• Endurance Technologies – Company to sell Veicoli Srl, its step-down subsidiary in Italy, for €2.5M upfront and deferred payments, plus earn-out up to €5M. Strategic focus shifts to core auto components.

• Hindustan Copper Limited – Company and Engineers India Limited ink a strategic MoA to enhance copper and critical mineral operations.

• LTM – Company partners with Chainguard's Athena coalition to secure open source software against AI-driven vulnerabilities, reinforcing global cybersecurity efforts.

• Info Edge (India) Ltd – Company invests Rs. 40 Cr in its wholly-owned subsidiary, Startup Investments (Holding) Ltd, to explore tech investments and AIF opportunities.

• Hindustan Copper Ltd – Company secures forest clearance for Chandmari copper mines in Jhunjhunu, Rajasthan, aligning with the mine lease period.

• Piccadily Agro Industries – Company introduces the IMWA Certification Hologram on Indri Single Malt Whisky bottles, ensuring authenticity and boosting consumer trust in Indian premium spirits.

Global Market Update

• European Market - European stocks stabilized after Tuesday’s tech-driven retreat, though gains for some defensive sectors suggested lingering investor caution.

• Asian Market - Asian stocks slid amid a selloff in the region’s leading chipmaker TSMC and other technology names over concerns about the sustainability of demand for AI-linked shares and their valuations.

• US Data - MBA Mortgage Applications.

• Commodity - Oil extended declines nearly 2% at $75.5/bbl as more tankers openly cross the Strait of Hormuz, while the US and Iran signal progress toward ending the war.

For More Research Reports : Click Here 

For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412