Dear
Trader…
The 30-share BSE benchmark Sensex declined
413 points or 0.66% to settle at 61,932. The broader NSE Nifty fell 112 points
or 0.61% to end at 18,328.
In the Sensex pack, HDFC twins closed lower
and fell nearly 2%. M&M, Kotak Bank, Bharti Airtel, Tata Motors, Sun
Pharma, and Reliance also closed lower. Whereas, Bajaj Finance, SBI, NTPC, HUL,
Titan, and Infosys closed higher.
Among individual stocks, Astral closed 6%
higher after the firm reported a 45.5% YoY jump in net profit at Rs 205.7 crore
in Q4 FY23. Meanwhile, Bank of Baroda closed 2% higher after Q4 profit rises
168% to Rs 4,775 crore.
On the sectoral front, Nifty Auto declined
0.93% and Nifty Financial Services fell 0.74%. Nifty Media and Nifty Metal also
closed lower. Whereas, in the broader market, Nifty Midcap100 gained 0.25%,
while Smallcap100 ended flat.
Meanwhile, the market capitalisation of all
listed companies on BSE declined by Rs 58,831 crore to Rs 278.11 lakh crore.Overall,
market breadth favoured bulls as 1,842 stocks ended in the green, while 1,682
names settled with cuts on Tuesday.
Global Markets –
Asian shares were mostly higher on Tuesday
even though the latest data showed China’s economy is weaker than expected,with
domestic demand failing to bounce back as much as hoped for after the pandemic.
Benchmarks advanced in Tokyo, Hong Kong,
and Seoul but fell in Shanghai and Sydney.
European shares were largely steady on
Tuesday with technology stocks offsetting declines in automakers, while
investors awaited more data on the eurozone economy to gauge how far the
European Central Bank will keep hiking interest rates. The pan-European STOXX
600 index was flat after opening marginally lower.
Currency watch – The Indian rupee
rose 10 paise to $82.21 against the US dollar in early trade, helped by a
pullback in the dollar index and a lower-than-expected trade deficit. The
dollar index, which tracks the movement of the greenback against a basket of
six major world currencies, declined 0.14% to 102.28 level.
Nifty
futures opened at 18439.00 points against the previous close of 18417.55 and
opened at a low of 18312.00 points. Nifty Future closed with an average
movement of 133.75 points and a decline of around 89.15 points and 18328.40
points…!!
On
the NSE, the midcap 100 index will up 0.26% and small cap 100 index is closing down
0.02%.
At
the start of intra-day trading, JUNE gold opened at Rs.61498 fell from a high
of Rs.61498 points to a low of Rs.60677 with a decline of 342 points, a trend
of around Rs.60685 and JULY Silver opened at Rs.73160, fell from a high of Rs.73298
points to a low of Rs.72460 with a decline of 703 points, a trend of around Rs.72699.
Meanwhile,
The Nifty has
witnessed a complete reversal of sentiments today.On the daily charts we can
observe that the Nifty is trading around the lower end of the rising channel
within which it has been trading since past one and a half month. banking stocks are good, at least the private sector banks,
they’ve been taking market share from PSU banks on a yearly basis and they are
well run.
Technically,
the important key resistances are placed in Nifty future are at 18328 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 – 18505 levels. Immediate support is placed at 18280
– 18202 levels.
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