Dear
Trader…
The 30-share BSE benchmark Sensex declined
372 points or 0.60% to settle at 61,560. The broader NSE Nifty dropped 105
points or 0.57% to end at 18,182.
In the Sensex pack, Kotak Bank, Asian
Paints, TCS, HCL Tech, Infosys, and Tata Steel were the top laggards. Whereas, IndusInd Bank, ITC, Bharti Airtel, Maruti,
UltraTech Cement, and M&M closed higher.
Among individual stocks, Amber Enterprises
closed 16% higher after the firm reported 82% growth in its consolidated net
profit to Rs 108 crore for the fourth quarter ended March 2023. Meanwhile, PVR
Inox ended nearly 5% lower as the firm posted Rs 333 crore net loss in Q4.
On a sectoral front, Nifty Media declined
2.09% and Nifty Realty fell 1.33%. Nifty IT and Nifty Financial Services also
closed lower. In the broader market, Nifty Midcap100 dropped 0.09%, while
Smallcap100 gained 0.53%.
Meanwhile, the market capitalisation of all
listed companies on BSE declined by Rs 90,082 crore to Rs 277.22 lakh crore.
Global Markets –
Asian shares were subdued on Wednesday and
the dollar hovered around a five-week peak as investors remained risk averse,
with the US debt ceiling talks and a mixed set of economic data weighing on
sentiment.
The Shanghai Composite Index eased 0.21%
while Hong Kong’s Hang Seng Index slid 2.09%, dragged by China data showing a
wobbly post-COVID recovery.
European shares slipped as concerns about
whether the United States can avoid a debt default, as well as a slew of
downbeat corporate updates weighed on sentiment. The continent-wide STOXX 600
slipped 0.1%, with financial services companies and real estate firms leading
declines.
Rupee weakens – The Indian rupee hit a more-than-six-week low against
the US dollar on Wednesday, in line with the decline in other Asian currencies
that tracked the fall in the Chinese yuan after weak economic data.The rupee
hit 82.4425 against the US dollar, its lowest since April 3, during the
session, before recovering to close up 0.21% at 82.38.
Crude oil price – Oil prices were steady on Wednesday after a surprise rise in
US crude inventories stoked demand concerns as economic worries competed with a
tighter supply outlook for later in the year. Brent crude futures rose 2 cents,
or 0.7%, to $74.42 a barrel. West Texas Intermediate US crude was down 5 cents
to $70.81.
Nifty
futures opened at 18328.40 points against the previous close of 18315.60 and
opened at a low of 18157.60 points. Nifty Future closed with an average
movement of 170.75 points and a decline of around 103.90 points and 18224.50
points…!!
On
the NSE, the midcap 100 index will down 0.09% and small cap 100 index is
closing up 0.53%.
At
the start of intra-day trading, JUNE gold opened at Rs.60333 fell from a high
of Rs.60445 points to a low of Rs.60115 with a decline of 94 points, a trend of
around Rs.60150 and JULY Silver opened at Rs.72560, fell from a high of Rs.72914
points to a low of Rs.72276 with a rise of 240 points, a trend of around Rs.72825.
Meanwhile,
In response to weak
global sentiments, domestic investors remained cautious as the US market
grappled with recession concerns led by recent economic data indicating
slowdown. The US retail sales figures for April reflected a decrease in demand,
and ongoing debt ceiling negotiations further dampened market sentiment.
Technically,
the important key resistances are placed in Nifty future are at 18224 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 18303 – 18373 levels. Immediate support is placed at 18180
– 18080 levels.
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