Dear Trader…
Indian equity benchmarks ended slightly lower on Monday, dragged down by weakness in banks and auto stocks ahead of earnings reports from a slew of market heavyweights including Tata Motors. Traders were concerned as foreign portfolio investors (FPIs) offloaded Indian equities to the tune of over Rs 5,689 crore in July so far as they continued to adopt a cautious stance in view of various domestic and global factors. During July 1-23, FPIs took out Rs 5,689.23 crore from equities, as per depositories data. However, downfall remain capped as Industry Minister Piyush Goyal expressed confidence that India will continue to attract high foreign direct investment (FDIs) in the current financial year.
Nifty futures opened at 15781.50 points against the previous close of 15853.10 and opened at a low of 15781.00 points. Nifty Future closed with an average movement of 99.00 points and a decline of around 35.10 points and 15818.00 points .. !!
On the NSE, the midcap 100 index will decline 0.04% and smallcap 100 index is closing rise 0.27%. Speaking of various sectoral indices, the NSE saw gains in only Metal, Pharma, Media and IT stocks, while all other sectoral indices closed lower.
At the start of intra-day trading, august gold opened at Rs.47647, fell from a high of Rs.47784 points to a low of Rs.47580, with a rise of 78 points, a trend of around Rs.47612 and September Silver opened at Rs.67156, fell from a high of Rs.67583 points to a low of Rs.67042, with a rise of 294 points, a trend of around Rs.67318..!!
Meanwhile, investment through participatory notes (P-notes) in the domestic capital market rose to Rs 92,261 crore till the end of June, making it the highest level in 37 months. This marks the third consecutive monthly rise in the investment through the route.
According to SEBI data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- rose to Rs 92,261 crore in June-end from Rs 89,743 crore in May-end. Before that, the investment level was at Rs 88,447 crore at April-end and Rs 89,100 crore at March-end. Of the total Rs 92,261 crore invested through the route till June, Rs 83,792 crore was invested in equities, Rs 8,069 crore in debt, and Rs 392 crore in hybrid securities.
Before that, the investment level was at Rs 88,447 crore at April-end and Rs 89,100 crore at March-end. Of the total Rs 92,261 crore invested through the route till June, Rs 83,792 crore was invested in equities, Rs 8,069 crore in debt, and Rs 392 crore in hybrid securities.
Technically, the important key resistances are placed in Nifty future are at 15848 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 15888 – 15909 levels. Immediate support is placed at 15737 – 15707 levels.
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