Trade Setup for Tuesday 6 April 2021- Opening Bell
Indian stock markets are trading higher, Pharma, Metals, and Banking stocks are in focus
Market live today 6 April: Indian markets opened higher amid mixed cues from the Asian markets. Nifty opened at 14737 levels, up by 99.20 points from the previous close while Sensex made a positive opening of 281.81 points at 49441.13 levels. The Bank Nifty on the spot price also opened higher by 236.8 points at 32915.65 levels.
At 9.55 am IST, the Indian stock markets extended their early gains and trading positively. Sensex and Nifty are trading higher by 0.59 percent and 0.62 percent respectively while Bank Nifty on the spot price is trading 0.49 percent up.
JSW Steel, Tata Motors, and Power Grid are trading as the top gainers in the Nifty50 index whereas Titan, Grasim, and HCL Tech are trading as the top losers. The most active stocks in the Nifty50 index at this moment are Tata Steel, JSW Steel, and Tata Motors.
On the sectoral front, Almost all major sectors are trading in the green zone today. The sectors Healthcare, Metals, Power, Automobiles, Banking & Financial sectors are trading higher today.
Trade setup for Tuesday 6 April – Indian stock market may open flat to negative today
Good morning and welcome to the Indian stock market trade setup for Tuesday, 6 April at 8 am IST
Asian markets are mostly trading in the red today. Nikkei and Shanghai are trading lower by 0.75 percent and 0.03 percent respectively. The Hong Kong market is closed today due to a holiday. The SGX Nifty is trading 21 points down at this moment. The Indian stock market may open flat to negative today.
The US markets closed higher on Monday due to the strong monthly job reports and new data showing a rebound in the service sector. The US market indices Nasdaq and S&P 500 gained 1.67 percent and 1.44 percent respectively while Dow was up 1.13 percent on Monday.
The European markets were closed in the green on Thursday, 1 April. The markets will reopen after a long holiday on Tuesday.
Indian stock market closed lower on Monday due to the concern about rising coronavirus cases in the country. Sensex and Nifty declined 1.74 percent and 1.54 percent respectively. FIIs were the seller and DIIs were the buyers in the cash market. FIIs sold Rs 931.66 crores while DIIs bought Rs 75.48 crores in the cash market segment on Monday.
News that may impact the Indian stock market trade setup for Tuesday,6 April
According to the Union Commerce and Industry Ministry, India’s equity FDI inflows during April- January 2020-21 grew by 28 percent to $54.18 billion. This has compared to the FDI in the previous year was at $42.34 billion. The total FDI ( including reinvested earnings) during the 10 months period in FY21 increased by 15 percent to $72.12 billion compared to the previous year.
The Indian market sentiments were pessimistic due to the spike in coronavirus cases and strict restrictions, lockdown, and curfew imposed in Maharashtra. As the Care Rating report on Monday, this move will have an economic impact of Rs 40,000 crore, with the trade, hotels, and transport sector to bear the biggest dent.
The rating agency also said that the loss of economic activity will have a 0.32 percent impact on the gross value added (GVA) growth at the national levels. The Care rating has revised down its national GDP growth estimate to 10.7- 10.9 percent from the 11-11.2 percent forecasted a week ago.
You can again visit this page to read more Indian stock market updates and trade setup for Tuesday, 6 April after the markets get open.
You may also like to read, Nifty & Bank Nifty Forecast for tomorrow 6 April 2021
Nifty Fifty [NIFTY 50] & Bank Nifty futures weekly prediction
Happy Investing !!
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