Domestic benchmark indices, the Nifty 50 and Sensex, extended their winning streak for a sixth consecutive session on April 22, although the gains were more subdued compared to previous sessions.
At the close, the Sensex rose by 187.09 points (0.24%) to settle at 79,595.59, while the Nifty 50 added 41.70 points (0.17%), ending at 24,167.25.
Despite negative global cues, particularly concerns surrounding tensions between former U.S. President Donald Trump and the Federal Reserve, the Indian equity markets maintained their optimistic trajectory. Several domestic factors contributed to this resilience:
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The RBI’s relaxed Liquidity Coverage Ratio (LCR) guidelines are expected to stimulate credit growth, giving a boost to the finance sector.
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Foreign institutional investors (FIIs) continued their buying streak for the fourth straight session, encouraged by a weaker dollar and attractive valuations.
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Improving domestic macroeconomic conditions, including declining inflation and growing expectations of interest rate cuts by the RBI, are anticipated to lower borrowing costs and spur demand—supportive for corporate earnings in FY26.
Technical Outlook
The market appeared to take a breather on Tuesday after a strong rally over the last two sessions. Although the Nifty opened higher, it soon slipped into weakness. It recovered during the session but failed to sustain higher levels, ending the day with minor losses after a range-bound movement.
A small red candle formed on the daily chart at swing highs, hinting at the formation of a doji or high wave candle pattern, which typically indicates indecision among market participants. This suggests the possibility of short-term consolidation or a minor dip.
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The Nifty failed to hold above immediate resistance at 24,200 (the lower high from January 2), despite briefly crossing it during the session.
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Given the sharp rally over the past 7–8 sessions, a cooling-off phase is expected before further upside.
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Immediate support is seen around 24,000, while a decisive breakout above 24,250 could push the index toward the next resistance at 24,550.
Market Breadth
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Advancing stocks: 2,389
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Declining stocks: 1,453
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Unchanged: 137
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