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MTECHTIPS:-Technical Snapshot
The Nifty futures gained on Tuesday as the index gained momentum in the final session to close the day with strong gains above the 5400 levels in futures market. Markets staged a smart performance on Tuesday as the frontline indices settled above important psychological levels and extended the gaining streak for the second straight session. Though, the bourses, in the first half, traded cautiously near their pre-close level awaiting July inflation figure. But, the encouraging WPI inflation numbers for July provided the much needed support to the local markets and prevented downside chances for the bourses. The wholesale price index (WPI), Indias main inflation gauge, unexpectedly slipped at 6.87% for the month of July, its lowest since January 2010, as compared to 7.25% (Provisional) for the previous month and 9.36% during the corresponding month of the previous year.Tata Motors up by 2.85%, Tata Steel up by 2.63%, Jindal Steel up by 2.47%, ICICI Bank up by 2.05% and ONGC up by 1.82% were top gainers on the Sensex, while Sun Pharma down by 2.10%, HDFC down by 1.78%, Sterlite Industries down by 1.27%, Bajaj Auto down by 0.97% and Hindalco Industries down by 0.91% were top losers on the index.