The markets have made a high of a little above 10400 which is close to the upper range of 10450

Mirroring the trends in global markets, BSE Sensex and Nifty 50 gained over half a per cent each in Tuesday’s session led by buying in ICICI Bank, HDFC, Reliance Industries and Axis Bank. The 30 share index advanced 187 points or 0.54 per cent to reclaim its crucial 35,000-mark, while the broader Nifty 50 index was up 56 points or 0.54 per cent to rule at 10,368. As many as 25 stocks in the Sensex pack traded in the positive territory with Tata Steel gaining the most, up 4.37 per cent. It was followed by ICICI Bank (up 2.32 per cent). HDFC (up 1.92 per cent), NTPC (up 1.79 per cent), Axis Bank (up 1.54 per cent) and Ultratech Cement (up 1.53 per cent). On the other hand, TCS, Sun Pharma, Infosys, HDFC Bank and HUL were down between 0.14 per cent and 1 per cent.

Here’s what analyst has to say: “The markets have made a high of a little above 10400 which is close to the upper range of 10450. We need to get past that level to see a meaningful upside rally. The support continues to be at 10200. Above 10450, we could go up to 10700. Month-end 10400 call options can be considered once we cross 10450 on the spot Nifty,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Nifty Metal top sectoral gainer: Except for Nifty IT and Nifty Pharma, all the sectoral indices were trading in the positive territory. Nifty Metal was top sectoral gainer, up 2.19 per cent. Similarly, Nifty Bank gained 1.27 per cent.

PM Modi address at 4 PM: The government issued the guideline for unlock phase 2 keeping the schools, colleges and coaching institutions closed. Investors will keep tabs on Prime Minister Narendra Modi’s address scheduled at 4 PM today where he is expected to speak on phase 2 of unlock. Also, the fresh guidelines, issued by Union Home Secretary Ajay Bhalla, stated domestic flights and train services would be further expanded in a calibrated manner.

Corporate earnings: NBCC, RITES, Shalimar Paints, ONGC, Vodafone Idea, SAIL, Deepak Fertilisers, Godfrey Phillips, ICRA, Mishra Dhatu Nigam, The New India Assurance Company, Bajaj Healthcare, Hindustan Motors, Ircon International and Rajesh Exports are among 596 companies scheduled to announce their March quarter earnings.

FII and DII data: On Monday, foreign institutional investors (FIIs) sold shares worth Rs 1,937.06 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,036.13 crore on a net basis, according to the provisional data available on the NSE.

Global markets: Asian stock markets were trading higher on Tuesday following gains on Wall Street. US stock indices ended higher in overnight trade on Wall Street as investors hoped for a stimulus-backed economic rebound. The Dow Jones Industrial Average rose 2.32%, the S&P 500 gained 1.47% and the Nasdaq Composite added 1.2%.