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The NSE benchmark Nifty 50 opened on a flat note at 17,653.35 and thereafter, it went on to touch intra-day high of 17,662.65. Once again, the bulls failed to hold on to higher levels and as a result, index slipped in negative terrain and went on to mark a low of 17,611.80, which is equivalent to the prior trading sessions low. The Nifty 50 advance decline ratio stands flat with 24 stocks were seeing advancing and 26 stocks were seen declining.

Sectoral Performance: Nifty IT Dips, Nifty Metal Soars to a Two-Month High

Talking about the sectoral performance, majority of the sectors are trading in red led by Nifty IT. Nifty IT is down by over 1%. On other hand, Nifty Metal is on fire as the index has jumped nearly 1% followed by Nifty Pharma. Coming back to the top performing sector of the day, Nifty Metal has logged a fresh two month high and interestingly, it doing a band walk on the upper Bollinger band, which is a bullish sign for the sector.

US Market Offers Tepid Cues as Wall Street Ends Mixed 

On Tuesday, the Wall Street ended on a mixed note, with the S&P 500 eked out modest gains and with this the index settled around a 10-week high, while Dow Jones and tech-heavy Nasdaq settled lower with miniscule losses.

In earnings news, Bank of America joined followed large lenders JPMorgan Chase, Citigroup and Wells Fargo in reporting expectations-beating results, with a 15% jump in earnings per share for the first quarter. At the time of writing, the Dow Jones Futures for June 23 were trading with modest loss of 0.17%.

Market Statistics: Advance-Decline Ratio positive 

On NSE, the advance-decline ratio was firmly in favor of bulls, with 1,157 stocks were seen advancing and 751 stocks were seen trading in red. The firm market breadth could be attributed to outperformance of broader indices. The broader indices Nifty Midcap and Smallcap are seen outperforming the frontline indices.

Foreign Institutional Investors (FIIs) were net sellers, selling shares worth Rs 810.60 crore. On the other hand, Domestic Institutional Investors (DIIs) were net buyers, buying shares worth Rs 401.66 crore as of April 18, according to data. 
Derivatives Watch: FIIs Hold Long Positions of 36.74% as of April 18 

As of April 18, in derivatives FIIs long position stood at 36.74%. 

Breakout Stocks to watch out for Today