Dear
Trader…
The 30-share BSE benchmark Sensex declined 129 points or
0.21% to settle at 61,432. The broader NSE Nifty dropped 52 points or 0.28% to
end at 18,175.
From the Sensex pack, ITC and SBI were the top laggards,
falling nearly 2%. Titan, Power Grid, L&T, Tata Motors, HUL, and UltraTech
Cement also closed lower. On the other hand, Bajaj Finance, Kotak Bank, Bharti
Airtel, ICICI Bank, Asian Paints, and HCL Tech closed higher.
Among individual stocks, Restaurant Brands Asia closed 14%
higher following reports that a consortium of private-equity firms, including
Advent and General Atlantic, and Jubilant Foodworks are among the entities in
talks to buy Everstone’s entire stake in Restaurant Brands Asia. Honeywell
Automation also closed 6% after the firm posted a 54% year-on-year (YoY) jump
in consolidated net profit at Rs 112.03 crore in Q4.
Sector-wise, Nifty PSU Bank declined 1.90%, and Nifty Realty
fell 2.37%. Nifty FMCG and Nifty Pharma also closed lower. In the broader
market, Nifty Midcap100 fell 0.59%, and Smallcap100 dropped 0.48%.
The market capitalisation of all listed companies on BSE
declined by Rs 1.35 lakh crore to Rs 275.8 lakh crore. The market breadth was
skewed in the favour of the bears. About 1,914 stocks declined, 1,567 rose, and
125 remained unchanged on the BSE.
Global Markets –
Asian stock markets followed Wall Street to inch higher on
Thursday on hopes US political leaders can reach agreement to avoid a
potentially disastrous default on government debt. Shanghai, Tokyo, Hong Kong
and Sydney advanced.
The rupee closed down 0.26% at 82.60 against the US dollar,
compared to its previous close of 82.38. It touched 82.65 earlier in the day,
the lowest since March 21. The rupee lost 0.27% on the day, its worst
single-day fall since May 9.
Crude oil prices decline – Oil prices eased on Thursday as traders warily watched for
signs of progress on talks to raise the US debt ceiling, after surging in the
previous session on optimism over US fuel demand.
Brent crude futures dipped 24 cents, or 0.31%, to $76.72 a
barrel.US West Texas Intermediate crude dropped 22 cents, or 0.33%, to $72.61 a
barrel.
Nifty
futures opened at 18290.00 points against the previous close of 18224.50 and
opened at a low of 18150.80 points. Nifty Future
closed with an average movement of 173.75 points and a decline of
around 49.05
points and 18175.45 points…!!
On
the NSE, the midcap 100 index will down 0.59% and small cap 100 index is closing up 0.48%.
At
the start of intra-day trading, JUNE gold opened at Rs.60100 fell
from a high of Rs.60153 points to a low of Rs.59942.00 with a decline of 145 points, a trend of around Rs.60000 and
JULY Silver opened at Rs.72555, fell from a high of Rs.72557 points to a low of Rs.71911
with a rise of 390 points, a trend of around Rs.72268.
Meanwhile, Positive developments
in debt-ceiling negotiations in the US had a favourable impact on global market
sentiments. However, the domestic market experienced a subdued mood in the
latter half, mainly attributed to the mixed earnings reported by sector majors.
Technically,
the important key resistances are placed in Nifty future are at 18175 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 18108 – 18008
levels.
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