Dear
Trader…
The 30-share BSE benchmark Sensex rose 318
points or 0.51% to settle at 62,346. The broader NSE Nifty surged 84 points or
0.46% to end at 18,417.
From the Sensex pack, Tata Motors, ITC,
Tech Mahindra, HUL, L&T and Infosys were the top gainers, rising 1-3%. On
the other hand, Maruti, TCS, Bajaj Finance, Asian Paints, Sun Pharma and Bajaj
Finserv closed with cuts.
On the sectoral front, Nifty Realty
advanced 4.32%, and Nifty PSU Bank rose 1.13%. Nifty FMCG and Nifty Media also
closed higher. In the broader market, Nifty Midcap100 rose 0.74%, while
Smallcap100 gained 0.81%.
Meanwhile, the market capitalisation of all
listed companies on BSE increased by Rs 96,187 crore to Rs 278.67 lakh crore.
The market breadth was skewed in the favour
of bulls. About 1,931 stocks rose, while 1,712 declined, and 178 remained
unchanged on the BSE.
Global Markets –
World stocks rose on Monday on cautious
optimism ahead of this week’s deliberations over the $31.4-trillion US debt
ceiling, a raft of economic data due and a bevy of central bankers lined up to
hint at whether further rate hikes await.
European markets opened higher, with
pan-region Stoxx up 0.2%. Both S&P 500 futures and Nasdaq futures rose 0.4%
and 0.3%, respectively. The Nikkei share average rose 0.8% — its highest close
since November 2021.
Rupee weakens – The Indian rupee fell 13 paise to $82.31 against
the US dollar in early trade. The dollar index, which tracks the movement of
the greenback against a basket of six major world currencies, declined 0.12% to
102.56 level.
Crude oil price – Oil prices were steady on Monday
as bullish sentiment about tightening supplies from OPEC+ cuts and a resumption
in US buying for reserves competed with concerns about fuel demand in the top
global oil consumers, the US and China.Brent crude futures rose 14 cents
to $74.31 a barrel, while US West Texas Intermediate crude was at $70.22 a
barrel, up 19 cents.
Nifty
futures opened at 18300.00 points against the previous close of 18333.40 and
opened at a low of 18288.00 points. Nifty Future closed with an average
movement of 185.10 points and a decline of around 84.15 points and 18417.55
points…!!
On
the NSE, the midcap 100 index will down 0.74% and small cap 100 index is
closing down 0.81%.
At
the start of intra-day trading, JUNE gold opened at Rs.60910 fell from a high
of Rs.61138 points to a low of Rs.60820 with a rise of 113 points, a trend of
around Rs.61000 and JULY Silver opened at Rs.73188, fell from a high of Rs.73650
points to a low of Rs.72880 with a rise of 247 points, a trend of around Rs.73301.
Meanwhile,
Domestic benchmark
indices are marching ahead driven by favourable developments such as declining
inflation levels, steady foreign inflows, and in anticipation of robust
earnings growth on a QoQ basis next quarter, due to drop in global commodity
prices, The domestic CPI inflation came in better-than-expected at 4.7%, and
the WPI inflation decreased by 0.92%, reaffirming RBI’s decision to hold rate
hikes.
Technically,
the important key resistances are placed in Nifty future are at 18417 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 18474 – 18533 levels. Immediate support is placed at 18303
– 18232 levels.
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