On account of US Treasury yields sank to their lowest since late 2017 and neutral foreign institutional investment (FII), Indian indices trade shaky in early intraday trade on Tuesday. After loosing more than 350 points on Monday, the BSE Sensex rose around 30 poinbts today to 37,838 while the 50-stock Nifty rose 21 points to 11,375 levels. Nifty Bank index was up 74 points to 29,355. Reliance Communications and GTL Infrastructure stocks lost more than 4 per cent in early morning trade.

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Speaking on the current market scenario Mehul Kothari, Senior Technical Analyst — Equity at IndiaNivesh had told Zee Business yesterday evening, "Finally the index NIFTY spot ended its winning spree after a rally of four consecutive weeks, which means that the index closed in red after rising from 10,585 to 11,575 (almost 1000 points). This dip was anyways expected after such a humongous rally since the charts already started showing exhaustion in the past couple of sessions." Kothari said that now at this juncture, the weekly chart displays a ‘Doji’ candlestick pattern which indicates indecisiveness prevailing at current levels. Thus, going ahead a sustainable move below 11,400 might result in some profit booking which can drag the index back to 11,200 to 11,100 zone. For the upside momentum to resume, Mehul Kothari of IndiaNivesh said that the index Nifty has to clear the recent high of 11,573 which can pull it towards the life high. No doubt the major trend is bullish but at the same time traders are advised to start booking their leveraged positions.

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Pointing towards lower US Treasury yields Prakash Pandey, Director & Head of Research at Fairwealth Securities said, "Global markets are facing heavy selloff as US Treasury yields sank to their lowest since late 2017." He said that Indian indices too are following the global cues as it was already at its peak when it touched the 11,500 to 11,550 zone and profit booking was expected in this zone.

Leading the bear run on Dalal Street the BSE IT index lost maximum by going off near 1 per cent from its previous close. IT major Rolta India crashed around 5 per cent, shares of Ramco Systems went off near 4.5 per cent, Xchanging Solutions scrip went down 3.7 per cent, Trigyn Technologies counter was down 1.95 per cent while mastek and Majesco stocks went down more than 3 per cent. However stocks like Birlasoft and Aptech had a bull run ven in this selloff as they gained around 1.75 and 1.1 per cent respectively.

In Infra sector stocks GVK Power & Infrastructure surge around 3.9 per cent, Dilip Buildcon shares skyrocketed around 6.4 per cent, Aban Offshore counter was up 2.8 per cent, Adani Ports & Special Economic Zone scrip rose around 1.2 per ent, GAIL (India) rose 1.3 per cent, NTPC tocks were up 1.15 per cent while Reliance Infra stocks were up 1.6 per cent.

Due to the US Treasury yields sank to their lowest since late 2017, Asian stocks too had a shaky trade yesterday, which showed some signs of recovery in early morning. Japanese Nikkei jump 1.89 per cent, Kospi rose 0.2 per cent, Hang Seng rose 0.04 per cent while Shanghai index went off near 1 per cent.