Markets tune-up for a positive day

14 Jun 2023 , 09:13 AM

Indian stock markets are looking to have a positive day today. Yesterday, markets ended the day almost 1% away from 5 months’ highs.

Globally, US markets ended in the green. Dow Jones closed 146 points higher. The Nasdaq composite finished 111 points higher. S&P 500 was up by 30 points.

Asian markets are trading with modest gains ahead of the US Fed’s inflation rate hike data. Chinese Shanghai Composite was trading 0.6% higher. Hong Kong’s Hang Seng is trading 0.05% lower. Japan’s Nikkei 225 closed higher by 0.87%. Taiwan index was trading marginally up. South Korean ‘Kospi’ is trading down by 0.29%.

Yesterday, after a sluggish start, markets held up the momentum with Sensex gaining over 300 points.

Among the top nifty gainers were Tata Consumer, ITC, Cipla, Titan, and Asian Paints. Kotak Bank, Adani Enterprises, Adani Ports, HCL Tech, and Mahindra & Mahindra were the biggest gainers yesterday. Nifty Bank closed 136 points higher. Nifty Midcap 50 stocks ended 1.24% higher.

Oil prices slipped after US crude stocks registered an unexpected rise. On Tuesday, the Indian rupee strengthened by 18 paise to reach a closing rate of 82.25 against the US dollar.

Technical view: Nifty will find support around 18,550 while 18,777 will act as resistance.