Dear
Trader…
The 30-share BSE benchmark Sensex rose 99 points or 0.16% to
settle at 61,873. The broader NSE Nifty surged 36 points or 0.20% to settle at
18,321, led by fast moving consumer goods stocks.
From the Sensex pack, Bharti Airtel, ITC, and Kotak Bank were
the top gainers, rising 1-3%. L&T, Power Grid, Bajaj Finance, Infosys and
Nestle also closed with gains. On the other hand, Wipro, IndusInd Bank, Tata
Motors, Sun Pharma, HDFC, and HUL ended with cuts.
Among individual stocks, PTC Industries ended nearly 6%
higher after subsidiary Aerolloy Technologies was approved by Israel Aerospace
Industries (IAI) for the supply of cast components for Aerospace applications.
While share Trident ended over 6% lower after its Q4 profit declined 28%.
Sector-wise, Nifty Realty rose 1.12% and Nifty FMCG surged
0.61%. Nifty Auto and Nifty Consumer Durables also closed higher. In the
broader market, Nifty Midcap100 gained 0.38%, and Smallcap100 rose 0.09%.
The market breadth was skewed in the favour of the
bulls. About 1,877 stocks gained, 1,616 declined, and 118 remained unchanged on
the BSE.
Global Markets –
Shares were mostly lower in Asia on Thursday as worries about
the US economy and a possible default on US government debt pulled Wall Street
lower. Japan’s benchmark Nikkei 225 index advanced 0.4%, extending recent gains
as investors bet on higher returns from Japanese companies.
Hong Kong’s Hang Seng sank 2% as investors fretted
over the trajectory of China’s economic recovery after the government relaxed
pandemic restrictions late last year. The Shanghai Composite Index also fell by
0.5 %
European stocks steadied on Thursday after their worst
two-day selloff since March, as investors balanced concerns over the US debt
ceiling standoff and a global economic slowdown with optimism from upbeat
corporate earnings.
The pan-European STOXX 600 index added 0.1% after shedding
about 2.5% in the past two days, triggered by a selloff in luxury stocks and a
lack of progress in talks to raise the US debt ceiling and avert a default.
Crude Oil Declines –
Oil prices fell on Thursday
after Russian Deputy Prime Minister Alexander Novak played down the prospect of
further OPEC+ production cuts at its meeting next week.Brent crude futures was
down 96 cents, or 1.23%, to $77.39 a barrel. US West Texas Intermediate crude
(WTI) fell $1.04, or 1.43%, to $73.28.
Currency Watch – The Indian rupee ended lower and premiums also dropped, pressured by higher US yields, while likely dollar inflows limited the domestic currency’s fall. The rupee ended down 0.1% to 82.74 versus the US dollar. The currency hit a near three-month low of 82.85 earlier in the week.
Nifty
futures opened at 18349.90
points against the previous close of 18384.80 and opened at a low of 18290.00 points. Nifty Future closed with an average movement of 148.95 points and a decline of
around 35.45
points and 18420.25
points…!!
On
the NSE, the midcap 100 index will up 0.38% and small cap 100 index is closing up 0.09%.
At
the start of intra-day trading, JUNE gold opened at Rs.59700 fell from a high of Rs.59955 points to a low of Rs.59636 with a rise of 322 points,
a trend of around Rs.59538 and JULY Silver opened at Rs.70841, fell from a high of Rs.71151 points to a low of Rs.70156 with a decline of 252 points,
a trend of around Rs.70834.
Meanwhile,
Global markets
maintained their influence, exerting downward pressure on the domestic market
in response to weaker cues from the US market and the recession in Germany.
However, as US futures rose, propelled by a sharp increase in sales projections
from the domestic market was able to efficiently recoup its earlier losses.
Technically,
the important key resistances are placed in Nifty future are at 18420 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 – 18560 levels. Immediate support is placed at 18373 –
18303 levels.
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