"Domestic indices witnessed bouts of volatility amid weakness in global markets, IT and Pharma sectors. But it was well countered by recovery in banking, auto and metal stocks. Developed markets traded negatively due to slow hiring plans announced by blue chips MNC like Apple Inc. in anticipation of global economic slowdown. However, due to the Indian economy’s strong fundamentals, we believe that the immediate impact of the slowdown in the domestic economy will be milder than of global peers."

"Nifty remained strong during the session as it moved above the previous swing high on the daily timeframe. A higher top higher bottom formation is visible on the daily timeframe. Besides, the Nifty has sustained above its major moving average suggesting a bullish trend. Over the short term, the index may remain positive as long as it sustains above 16100 with a potential to reach 16450-16500 over the short term."

"The Bank Nifty index continued its strong buying momentum and remains in a buy mode with immediate support at the 35,400 level. The index is likely to test the level of 36,200 on the upside where it faces resistance at the previous high level. The option front immediate resistance stands at 36,000 where the highest open interest is built up on the call side."

The Indian benchmark indices ended higher on Tuesday despite opening in the red led by gains in banking and auto stocks. This is the third straight session of gans for the Indian markets. The Sensex ended 246 points higher to settle at 54,767 while the Nifty rose 62 points to close at 16,340. Broader markets outperformed benchmarks with the midcap and smallcap indices up 0.7 percent and 1 percent, respectively. Among sectors, Nifty Bank and Nifty Auto rose over a percent each while Nifty Fin and Nifty Metal advanced over half a percent each.

"The Indian markets have after their sharp correction in the early part of the year, got into a time/price correction mode over the last few months. While the index seems to reflect a bull market correction single stocks have corrected far more steeply reflecting a correction more like one seen in bear markets. The overall market depth has been extremely narrow, resulting in a phase where index investing has been a more profitable trade.

Going ahead however we believe volatility should settle down as the momentum and quantum of rate hikes become known events. Further commodity prices have also shown signs of easing off late making us believe we are over peak inflation. The resilience of the Indian economy and absence of any fresh negatives should result in a better performance of the markets in the second half of the year."

The share price of Nucleus Software Exports climbed nearly 9 percent to ₹444 in intra-day trade on Tuesday after the company said it had entered into an agreement with Vietnam Public Joint-stock Commercial Bank (PVcomBank) to transform its lending origination operations. Through this partnership, PVcomBank is expecting to double its consumer loans within the next four to five years, Nucleus Software said in a release, without revealing the deal value.

Shares of Eicher Motors climbed almost 2% to hit their 52-week high of ₹3,088 in intraday trade on BSE on July 19, looking on course to extend the gains into the third consecutive session. The stock has been gaining this year while the market has been volatile. As of July 18 closing, the stock has gained 17% against a 15% gain in the BSE Auto index and a 6% fall in the benchmark Sensex. Experts say that they are witnessing a price pattern which resembles a bullish flag on the monthly scale. So the above-mentioned technical evidence indicates that the stock is poised for a fresh upside in the coming months. For the medium term, the stock has the potential to reach ₹3,400–3,700. The bullish view would be negated below the ₹2,600 mark.

As per the recent shareholding pattern on BSE, the Jhunjhunwala has cut his stake in the auto major during the April-June period. The ace investor has 1.09 percent stake or 3,62,50,000 shares in Tata Motors as of June, down from 1.18 percent stake as of March.

Foreign fund managers have shown their faith in public sector undertakings after a long break. Although they pulled ₹2.27 lakh crore out of Indian equities so far this year, 30 out of the 50 odd listed state-owned firms saw foreign ownership rising in the period, reported The Economic Times. Foreign portfolio investors’ (FPIs) stake in National Aluminium increased from 13.30% to 16.71% between January and June, while in Hindustan Aeronautics, their stake rose from 3. 15% to 5.56%. In Oil India, FPIs raise their stake from 10.11% to 12. 42%. Similarly, these investors increased their stake in RCF, BEML, Chennai Petro, Engineers India, Shipping Corporation, Bharat Dynamics, and Mazagon Dock, among others.

Shares of Great Eastern (GE) Shipping hit a 52-week high of ₹459.20 as the stock rallied 11 per cent on the BSE in Tuesday’s intra-day trade on the back of heavy volumes. The stock surpassed its previous high of ₹445.50 that it had touched on May 18, 2022.

“Rupee fell as broader strengthen in the dollar continued ahead of the important FOMC policy statement that will be released next week. Expectation is that the Fed could raise rates by another 75bps and maintain a hawkish stance. On the domestic front, trade deficit continued to widen and that also is weighing on the rupee. We expect the USDINR (Spot) to trade with a positive bias and quote in the range of 79.70 and 80.20," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

“Despite a close above 16,200 described yesterday as the wall of worry, inability to clear the recent peak of 16,275 convincingly, validates the modest objectives that we had set out with at the beginning of the week. This sets up an environment for a pullback to 16,145, before consolidating and re attempting another push higher, or extended slippage to 16,065 that could close yesterday’s gap. That said, we do not expect a collapse as long as 15,970 attracts bargain hunting again and shall until then, remain committed to the 16,800 view for the near term.”

Indian markets fell from day's high to turn flat amid volatile trade on Tuesday. Among sectors, while banks and autos led, IT and FMCG indices capped gains. Broader markets also outperformed benchmarks.

FMCG major Hindustan Unilever is expected to report a muted performance for the quarter ended June. The company’s revenues are expected to remain flat (QoQ) at ₹13,438.5 crore. It's net profit may decline 6 percent QoQ to ₹2,191.3 crore in Q1.

Shares of Tube Investments of India rallied 4 per cent to ₹2,088.40 on the BSE in Tuesday’s intra-day trade after acquisition of lPL Tech Electric Private Limited (IPLT) in an all cash consideration up to ₹246 crore towards purchase and subscription of fresh equity shares. lPLT is a startup engaged in manufacturing and sale of electric heavy commercial vehicles.

""FPI selling, which has been a major drag on the Market since October 21, is showing a marginally different trend. Even though FPIs continue to be net sellers, they bought on 4 days this month. This means some FPIs are seeing value in some segments. The sharp corrections in IT stocks have made their valuations attractive. High quality financials, whose values were depressed by sustained FPI selling, are bouncing back since their fundamentals are improving. Commodity price moderation is imparting resilience to commodity users like autos, FMCG and consumer durables. Increasing capex is assisting the capital goods segment. These are important indicators for investors. The near-term is likely to witness stock specific action in response to the Q1 results."

Indian markets recovered after opening lower on Tuesday led by gains in auto, metal and pharma stocks. Even the banking index turned green, however, IT and FMCG sectors continued to decline.

Markets trimmed some losses after opening lower. At 9:40 am, the Sensex was down 112 points to 54,408 while the Nifty fell 28 points to 16,250. Broader markets turned green while banks, financials and IT stocks dragged the most.

Broader markets outperformed the benchmark with the Nifty Midcap down 0.2 percent and Nifty Smallcap down 0.08 percent in opening deals.

Indian markets started the day on a weak note following negative trends in Asian peers after Wall Street fell in overnight deals. Back home, all sectors were in the red, however, IT and banking declined the most dragging the markets. At 9:15 am, the Sensex was down 269 points at 54,251 and the NSE Nifty fell 91 points to 16,187.

Rupee hits record low, breaches 80/$ at open

Hindustan Unilever, HDFC Life Insurance Company, ICICI Lombard General Insurance Company, Ambuja Cements, L&T Finance, Polycab India, AU Small Finance Bank, Rallis India, Steel Strips Wheels are some stocks that will announce their June quarter earings today.

Indian markets ended over 1 percent higher on Monday following massive buying in IT, oil and gas and banking shares bolstered by firm global trends. Rising for a second straight session, Sensex rallied 760.37 points or 1.41 percent to settle at 54,521.15. The broader NSE Nifty advanced 229.30 points or 1.43 percent to end at 16,278.50.

Shares in the Asia-Pacific were mostly lower Tuesday after a positive start to the week, and as investors digested Australia’s central bank’s meeting minutes. Japanese markets returned to trade Tuesday after a holiday on Monday, and the Nikkei 225 rose 0.83 percent, while the Topix index climbed 0.67 percent. The Kospi in South Korea shed 0.22 percent. In Australia, the S&P/ASX 200 was slightly below the flat line.

Wall Street ended lower on Monday after bank stocks erased earlier gains and Apple shares fell on a report saying the company plans to slow hiring and spending growth next year. After posting solid gains to start the session following earnings from Bank of America Corp and Goldman Sachs Group Inc, the S&P financial sector weakened into the close. The Dow Jones Industrial Average fell 215.65 points, or 0.69 percent, to 31,072.61, the S&P 500 lost 32.31 points, or 0.84 percent, to 3,830.85 and the Nasdaq Composite dropped 92.37 points, or 0.81 percent, to 11,360.05.

At 8:20 am, the SGX Nifty was trading 109 points or 0.67 percent lower at 16,181, indicating a gap-down opening for the Indian markets.