Dear
Trader…
The 30-share BSE benchmark Sensex rose 18
points or 0.38% to settle at 61,981, while the blue-chip Nifty index climbed 33
points to 18,365, propelled by a broad-based rally across sectors and powered
by Adani group stocks.
From the Sensex pack, Bajaj Finserv, Tata
Motors, Asian Paints, ITC, IndusInd Bank, SBI and Tata Steel were the top
gainers, while Reliance, TCS, HDFC, HUL closed lower.
Adani stocks extended their rally, surging
up to 14% in Tuesday’s trade. Adani Green and Adani Wilmar were locked in 5%
and 10% upper circuits, respectively.Shares of budget carrier SpiceJet
closed nearly 14% lower as the airline marked its 18th anniversary.
Sectorwise, Nifty Metal rallied 2.59%, and
Nifty Pharma gained 0.57%. Nifty PSU Bank and Nifty FMCG also ended higher. In
the broader market, Nifty Midcap100 rose 0.63%, and Smallcap100 ended flat.
The market breadth was skewed in the favour of the
bulls. About 1707 stocks gained, 1813 declined, and 105 remained unchanged on
the BSE.
Global Markets –
Asian stocks were mixed on Tuesday amid
uncertainty over debt ceiling negotiations.
The Shanghai Composite Index fell 1.4%,
while Hong Kong’s Hang Seng Index lost 1.3%. Japan’s benchmark Nikkei 225 shed
0.4% to finish at 30,957.
European shares fell on Tuesday on weak
updates from Julius Baer and Vivendi, while resilient euro zone business growth
in May bolstered the chances of an interest-rate hike by the European Central
Bank.The pan-European STOXX 600 index slipped 0.3% as declines in luxury
stocks offset gains in the battered real estate sector.
Rupee watch – The rupee traded in a
narrow range and settled for the day 2 paise higher at 82.82 (provisional)
against the US dollar on Tuesday, amid a muted trend in domestic equities.
Oil prices – Oil prices slipped on
Tuesday, getting a boost from a tighter market due to a seasonal rise in
gasoline demand and supply cuts from OPEC+ producers. Brent crude
futures fell to $75.93 a barrel, while US WTI crude was down to $72.04.
Nifty
futures opened at 18361.10 points against the
previous close of 18331.35 and opened at a low of 18347.75 points. Nifty Future closed with an average movement of 82.75 points and a decline of around 34.45 points
and 18365.80 points…!!
On the
NSE, the midcap 100 index will up 0.63% and small
cap 100 index is closing up 0.02%.
At the
start of intra-day trading, JUNE gold opened at Rs.60000 fell from a high of Rs.60000 points
to a low of Rs.59739 with a decline of 389 points,
a trend of around Rs.59852 and JULY Silver opened
at Rs.72445, fell from a high of Rs.72454 points
to a low of Rs.71109 with a decline of 1340 points,
a trend of around Rs.71393.
Meanwhile,
The market sentiment
was challenged by a sell-off in IT stocks, influenced by weak signals from the
US market. The direction of the US market is anticipated to impact global
equities, with investors closely monitoring upcoming events such as the release
of FOMC minutes, US PMI, and progress in debt-ceiling talks.
Technically, the
important key resistances are placed in Nifty future are at 18365 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 18303 –
18202 levels.
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