The Shanghai Composite declined by 0.06% at 2,728.31 after concerns rose over China"s inflation due to bad weather threatening further rise in food prices. The Nikkei225 gained by 0.14% at 9,561.30. The Japanese stocks gained as the slower than expected decline in the US Retail Sales has boosted outlook for the Japanese exporters. Further, the Hang Seng, Seoul Composite and Taiwan Weighted declined by 0.14%, 0.24% and 0.63%, respectively.
In the domestic arena, the markets are likely to open on a subdued following the mixed trend among the Asian peers together with the slow start for the SGX Nifty. The Capital Goods, Metal, Banking, Auto and Realty space will be in focus during today"s trade.
Today, Nifty will face a resistance near 5,520 level and will have a support near the 5,420 mark.
On Tuesday, the domestic bourses ended on a positive note, after trading in a narrow range throughout the session. After opening in the positive terrain, the benchmark indices were seen trading in a narrow range throughout the session. The benchmark Nifty was seen surging above the 5,500 mark.
However, a mild profit booking was witnessed post mid-session as the Nifty faced resistance near 5,520 mark and the disappointing inflation data for the month of May kept the investors skeptical regarding RBI"s move in the policy review meet, later this week. Sensex stocks including Reliance Infrastructure, Bajaj Auto, Jindal Steel, ICICI Bank and ITC surged giving good support to the session rally. Post mid-session the benchmarks entered a narrow range and finally closed with modest gains.
The BSE Sensex closed at 18,308.66, up by 42.63 points or by 0.23% and the NSE Nifty closed at 5,500.50 up by 17.70 points or by 0.32%. The BSE Midcap was at 6,959.10 up by 41.45 points or by 0.60%, whereas the BSE SmallCap closed at 8,344.29, up by 30.97 points or by 0.37%. The BSE Sensex touched intraday high of 18,380.19 and intraday low of 18,261.11.
On Tuesday, the U.S. markets closed on a robust note on the back of broadbased buying across sectors. The early trade sentiment was boosted by gains among the Asian and European peers after China didn"t disappointed with its inflation and industrial production data. Besides, the Bank of Japan announced a new lending facility intended to stimulate growth. The sentiment in US was further bolstered by a flurry of positive economic data.
The overall producer prices and core producer prices for May has increased by 0.2%, meeting street expectations. The Retail Sales for May has declined by 0.2% which is way below the economists" expectations of 0.7% drop. Although a mild profit booking was witnessed towards the end, the benchmark indices were seen finishing off the session with more than 1% gains each.
In the major indices, the Dow Jones Industrial Average (DJIA) closed with a gain of 123.14 or 1.03% at 12,076.11 while NASDAQ index finished up by 39.03 points or 1.48% to 2,678.72. The S&P 500 (SPX) closed higher by 16.04 points or 1.26% to 1,287.87.
The FIIs on Tuesday stood as net seller in equity, whereas net buyer in debt. Gross equity purchased stood at Rs. 1574.10 crore and gross debt purchased stood at Rs. 1944.50 crore, while the gross equity sold stood at Rs. 1691.20 crore and gross debt sold stood at Rs. 927.20 crore. Therefore, the net investment of equity and debt reported were Rs. (117.00) crore and Rs. 1017.20 crore, respectively.
Top traded volumes on NSE Nifty - Hindalco Industries 10126516, IDFC 9360837, Reliance Industries 4335560, ITC 4116388 and Tata Motors 3593062.
On BSE, total number of shares traded was 30.10 crore and total turnover stood at Rs. 4,007.73 crore. On NSE, total number of shares traded was 50.67 crore and total turnover stood at Rs. 10200.94 crore.
In the NSE Futures and Options segment, total number of contracts traded in index futures was 336869 with a total turnover of Rs. 8703.28 crore. Along with this total number of contracts traded in stock futures were 423505 with a total turnover of Rs. 11128.71 crore. Total numbers of contracts for index options were 1815687 with a total turnover of Rs. 50469.51 crore and total number of contracts for stock options was 105060 with a total turnover of Rs. 2647.79 crore.