Sensex rallies 100 points, Nifty holds above 8,150; Adani Ports top gainer

Domestic indices were trading positive on Tuesday tracking firm global cues after Dow Jones hit fresh record highs as Wall Street discounted outcome of Italy’s referendum. Back home investors hope for a rate cut as monetary policy committee meet starts later today.Sensex rose as much as 100 points in early trade led by gains in realty, IT, power and capital goods sector indices while Nifty50 continued to hold 8,150 levels.  Stock Market Astrology Tips

 
At 9:53 am, the S&P BSE Sensex was trading at 26,449, up 101 points, while the broader Nifty50 was quoting at 8,162, up 33 points. Among broader markets, BSE Midcapwas up 0.81% while BSE Smallcap gained 0.66%."Short covering has potential to challenge 8,280 again or see 8,580, but only in a highly optimistic scenario, though the challenge today would be to protect the downsides, while keeping an eye on upside possibilities. A turn lower again and penetration of 8,070 could bring the downside of 7,800 back into the radar," said Geojit BNP Paribas in a technical note.
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Meanwhile, on Monday, foreign institutional investors were net sellers with net equity sell value of Rs 317.85 crore, while domestic institutional investors bought equities worth Rs 163.64 crore, provisional data available with BSE suggested.Also, Gold prices fell to its lowest in 10 months on Monday as global equities strengthened. It posted its biggest monthly drop in more than three years after Donald Trump won the US Presidential elections.  Commodity Trading Tips