Dear
Trader…
The BSE benchmark Sensex rose 123 points or
0.20% to settle at 62,027. The broader NSE Nifty rose 18 points or 0.10% to end
at 18,333.
From the 30-share pack, M&M, IndusInd
Bank, Axis Bank, and HUL were the top gainers, rising 1-2%. HCL Tech, SBI, HDFC
Bank, and Bajaj Finance also closed higher. On the flip side, Power Grid, NTPC,
Tata Steel, UltraTech Cement, Nestle, and Sun Pharma closed lower.Shares
of Zensar closed 9.6% higher after the firm reported a 55.9% QoQ jump in net profit
at Rs 119.2 crore in Q4 FY23. While Intellect Design Arena closed 14% higher
the firm reported a 21% YoY rise in its FY23 total revenue to Rs 2,246 crore.
On the sectoral front, Nifty Auto advanced 0.77%
and Nifty Bank rose 0.73%. Nifty Financial Services and Nifty Consumer Durables
also closed higher. Whereas, in the broader market, Nifty Midcap100 fell 0.41%,
while Smallcap100 declined 0.75%.
The market breadth was skewed in favour of
bears. About 1,858 declined, 1,654 stocks gained and 126 remained unchanged.
Global Markets –
Asian shares were mostly lower Friday on
looming worries over U.S. banks and lagging demand from China, the region’s
major driver of growth. Japan’s benchmark Nikkei 225 gained 0.9%, while South
Korea’s Kospi dropped 0.4%.
The Shanghai Composite lost 0.1%. European
shares rose on Friday after upbeat results from Richemont underscored strength
in the luxury sector, while investors assessed inflation data from France and
Spain for signals on the European Central Bank’s interest rate hike plans. The
pan-European STOXX 600 index gained 0.6%, turning slightly positive for the
week.
Rupee weakens – The Indian rupee fell to a three-week low on
Friday and registered its worst week in eight, dragged down by a broader
strength in the dollar index. The rupee closed at 82.1625 per US dollar
compared with 82.09 in the previous session.
Crude falls – Oil prices slipped on Friday,
heading for a fourth weekly decline, as renewed economic concerns in the United
States and China revived concern about fuel demand growth in the world’s two
largest oil consumers. Brent crude futures fell 43 cents, or 0.57%, to $74.55 a
barrel. West Texas Intermediate (WTI) US crude futures were down 33 cents, or
0.47%, to $70.54.
Nifty futures opened at 18298.95 points against the
previous close of 18353.40 and opened at a low of 18215.45 points. Nifty Future
closed with an average movement of 149.55 points and a decline of around 20 points
and 18333.40 points…!!
On the NSE, the midcap 100 index will down 0.41% and small
cap 100 index is closing down 0.75%.
At the start of intra-day trading, JUNE gold opened at
Rs.60795 fell from a high of Rs.60850 points to a low of Rs.60525 with a decline
of 160 points, a trend of around Rs.60732 and MAY Silver opened at Rs.73675,
fell from a high of Rs.73675 points to a low of Rs.72506 with a decline of 708 points,
a trend of around Rs.73100.
Meanwhile, A slew of weak economic data points from
the US and China hinting towards a slower pace of economic growth disturbed the
mood of the Asian market. Consequently, US Treasury yields reacted, indicating
a potential halt in central bank rate hikes & The domestic market recovered
in the second half as investors back home awaited the release of Indian
inflation data that is expected to cool down below 5%.
Technically,
the important key resistances are placed in Nifty future are at 18333 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 18373 – 18505 levels. Immediate support is placed at 18088
– 18008 levels.
Note :- Before Act please refer & agree Terms
& conditions, Disclaimer, privacy policy & agreement on www.nikhilbhatt.in
