March 16, 2025

+91 99390 80808

March 16, 2025

| +91 99390 80808

HomeMarket TrendStock Market Trend : 11 AUGUST 2022

Stock Market Trend : 11 AUGUST 2022

Dear Trader…

Indian equity benchmarks ended little changed on Wednesday, as losses in technology stocks offet most of the gains in metals, while investors looked ahead to U.S. inflation data for clues on the pace of rate hikes from the Federal Reserve. Global as well as domestic markets were lackluster after China CPI inflation accelerated 2.7% in July, its highest level in two years and ahead of release of US inflation data.

Traders were worried with data released by Association of Mutual Funds in India (Amfi) showing that equity mutual funds attracted Rs 8,898 crore in July, a 43 per cent decline compared to the preceding month as markets continued to remain volatile amid concerns over inflation and rate hike expectations. Also, investors awaited the release of U.S. inflation data later in the day for cues on the Fed's policy tightening path.

Nifty futures opened at 17580.25 points against the previous close of 17557.75 and opened at a low of 17455.30 points. Nifty Future closed with an average movement of 130.30 points and a decline of around 6.00 points and 17551.75 points...!!

On the NSE, the midcap 100 index will decline 0.16% and smallcap 100 index is closing decline 0.35%. Speaking of various sectoral indices only IT, Realty, Media, PSU Bank and FMCG stocks were seen selling on the NSE, while all other sectoral indices closed higher.

At the start of intra-day trading, October gold opened at Rs.52450, fell from a high of Rs.52450 points to a low of Rs.52255 with a decline of 125 points, a trend of around Rs.52364 and September Silver opened at Rs.58791, fell from a high of Rs.58791 points to a low of Rs.58392, with a decline of 121 points, a trend of around Rs.58670.

Meanwhile, commerce ministry's arm the Directorate General of Trade Remedies (DGTR) has recommended imposition of anti-dumping duty on imports of a kind of cutting tool from China, for five years, to protect the domestic industry from cheap inbound shipments. The DGTR has recommended the duty after conducting an investigation on the dumped imports of 'resin bonded thin wheels’. It is used in various sectors ranging from welding and cutting.

The directorate in its findings has concluded the item is being imported from China into India in significant quantities in both absolute and relative terms. The imports are undercutting the prices of the domestic industry. The recommended duty was in the range of $78.38 per tonne and $90.12 per tonne on imports. While DGTR, which is under the commerce ministry, recommends the duty, the finance ministry takes the final decision to impose the same within three months of the recommendation.

Countries initiate anti-dumping probes to check if their domestic industries have been hurt because of a surge in below-cost imports. As a countermeasure, they impose duties within the multilateral regime of the WTO (World Trade Organisation). Anti-dumping measures are taken to ensure fair trade and provide a level-playing field to the domestic industry. It is not a measure to restrict imports or cause an unjustified increase in the cost of products.

Technically, the important key resistances are placed in Nifty future are at 17606 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 17676 – 17707 levels. Immediate support is placed at 17505 – 17474 levels.


Note :- Before Act please refer & agree Terms & conditions, Disclaimer, privacy policy & agreement on www.nikhilbhatt.in

Most Popular

SUN PHARMA

HAVELLS INDIA

SBI LIFE

ADANI PORTS

error: Content is protected !!