Further, the bullish closing for the overnight US market further boosted the sentiment across Asia. The MSCI Asia Pacific Index rose 0.8% to 131.66, with about six stocks advancing against each that fell. The Japanese stocks rose on Greek PM"s winning the confidence vote.
Sony Corp of Japan, which generates over 20% of its sales in Europe, surged by 2.4%. The Nikkei225 increased by 1.30% at 9,582.73 while the Shanghai Composite gained by 0.04% at 2,647.43. However, the National Development and Reform Commission of China had threatened that the country"s inflation in June will be surpass that in May. Further, the Hang Seng, Seoul Composite and Taiwan Weighted advanced by 0.65%, 0.90% and 0.61% respectively. In the domestic arena, the markets are likely to follow the route of its global peers and witness a positive start. The Realty, IT, Oil&Gas and Banking space will be in focus during today"s trade.
Today, Nifty will face a resistance near 5,320 level and will have a support near the 5,250 mark.
On Tuesday, the domestic bourses were seen closing on an upbeat note as the benchmark indices posted decent gains after previous session"s slump. After witnessing a gap up opening, the benchmark indices soon pared the gains and tasted the baseline. However, the weakness didn"t sustain and the market strengthened again amidst buying in the IT, Oil&Gas and Banking space.
The benchmark Nifty was seen surging above the 5,300 mark as optimism rose after the Indian Finance Minister, Pranab Mukherjee stated that the country"s government has initiated discussions with Mauritius for revising the tax treaty in order to restrict huge revenue losses every year.
However, post mid-session a bout of selling took the market near the baseline as the benchmark Nifty faced strong resistance around the 5,320 mark. The post mid-session sell-off was led by Jaiprakash Associates, DLF and Reliance Infrastructure. However, the market managed to close with on the positive terrain with modest gains.
The BSE Sensex closed at 17,560.30, up by 53.67 points or by 0.31% and NSE Nifty closed at 5,275.85, higher by 17.95 points or by 0.34%. The BSE Midcap was at 6,583.97, lower by 14.10 points or by 0.21% and the BSE SmallCap closed at 7,874.14, decreasing by 33.83 points or by 0.43%. The BSE Sensex touched intraday high of 17,714.88 and intraday low of 17,504.27.
On Tuesday, the U.S. markets closed on a bullish note as the benchmark indices marked their fourth straight sessions of winning streak. The market started off the session on a robust note tracking the positive sentiment across the globe on optimism over the Greek Prime Minister"s vote of confidence.
The Greek PM was expected to win the confidence vote which in turn would symbolize agreement that progress must be made toward austerity. The major market drivers during the session were the Materials, Energy and Consumer Discretionary sectors, which gained by 2.6%, 2% and 2%, respectively.
In the major indices, the Dow Jones Industrial Average (DJIA) closed with a gain of 109.63 or 0.91% at 12,190.01 while NASDAQ index finished up by 57.60 points or 2.19% to 2,687.26. The S&P 500 (SPX) closed higher by 17.16 points or 1.34% to 1,295.52.
The FIIs on Tuesday stood as net seller in both equity and debt. Gross equity purchased stood at Rs. 2588.20 crore and gross debt purchased stood at Rs. 1214.00 crore, while the gross equity sold stood at Rs. 3015.30 crore and gross debt sold stood at Rs. 1887.10 crore. Therefore, the net investment of equity and debt reported were Rs. (427.10) crore and Rs. (673.10) crore, respectively.
Top traded volumes on NSE Nifty – JP Associate 10309509, IDFC 8484606, DLF 5170525 and reliance Industries 3980489.
On BSE, total number of shares traded was 27.07 crore and total turnover stood at Rs. 2,351.32 crore. On NSE, total number of shares traded was 57.59 crore and total turnover stood at Rs. 9591.64 crore.
In the NSE Futures and Options segment, total number of contracts traded in index futures was 494003 with a total turnover of Rs. 12282.67 crore. Along with this total number of contracts traded in stock futures were 605620 with a total turnover of Rs. 14032.91 crore. Total numbers of contracts for index options were 3171860 with a total turnover of Rs. 85334.36 crore and total number of contracts for stock options was 141637 with a total turnover of Rs. 3409.97 crore.