Dear
Trader…
Among the Sensex stocks, RIL, Sun Pharma,
HUL, HCL Tech and Wipro were the top gainers. On the other hand, only Bharti
Airtel, Power Grid Corp, and NTPC closed in the red.
Sectorally, Nifty IT rallied 1.48% and
Nifty FMCG 1.47%. Banks, financials, auto, media, metal, pharma, realty, and
consumer durables sectors also closed higher. In the broader market, Nifty
Midcap100 advanced 0.81% and Nifty Smallcap 100 gained 0.53%.
The market capitalisation of all listed
companies on BSE surged by Rs 2.24 lakh crore to Rs 282.57 lakh crore.
Global Markets –
Fed’s rate-hike pause – Boston Federal Reserve
President Susan Collins said on Thursday the time may be at hand for the US
central bank to push the pause button on its interest rate hiking campaign to
see how the impact of past tightening is weighing on activity.
Global markets – Asia’s stock markets
were cautiously higher on Friday, with Japan leading gains, while the dollar
took a breather as investors hoped for an eleventh-hour deal to avoid a US debt
default. S&P 500 futures traded little changed. European shares flatlined
after early gains from mining stocks fizzled out.
FII buying – Foreign Institutional
Investors (FIIs) were net buyers in the capital markets in May as they bought
shares worth Rs 34,805 crore, according to NSDL data.Foreign
institutional investors have finally turned long on index after months of short
positioning. Their net longs stood at 19,000 contracts versus 20,000 short
contracts at the start of May series, according to a Nuvama report.
Rupee strengthens –The Indian rupee
strengthened 0.20% versus the US dollar to end at 82.58 as persistent inflows
into equities offset the impact of a broadly strong dollar.
Crude oil –Oil prices were stable
on Friday, as the market weighed conflicting messages on supply from Russia and
Saudi Arabia ahead of the next OPEC+ policy meeting, a stronger US dollar and
worries of weaker-than-expected demand growth. Brent crude was up 40 cents at
$76.66 a barrel, while US West Texas Intermediate rose 54 cents to $72.37 a
barrel.
Nifty
futures opened at 18440.35
points against the previous close of 18420.25 and opened at a low of 18419.00 points. Nifty Future closed with an average movement of 148.00 points and a rise of
around 153.05 points
and 18573.30
points…!!
On
the NSE, the midcap 100 index will up 0.81% and small cap 100 index is closing up 0.53%.
At
the start of intra-day trading, JUNE gold opened at Rs.59542 fell from a high of Rs.69660 points to a low of Rs.59400 with a decline of 20 points,
a trend of around Rs.59440 and JULY Silver opened at Rs.70405, fell from a high of Rs.71280 points to a low of Rs.70374 with a rise of 689 points,
a trend of around Rs.70931.
Meanwhile,
Indian equity markets
remained concerned about growth prospects, even as inflation continued its
downward trajectory both globally and domestically. Global markets were mixed
last week as concerns around the US debt ceiling and a weak global growth
outlook persisted.
FPIs & DIIs were net buyers during the
week. Going forward, D-street will focus on the macro trends. Markets going
ahead may be dominated by global news flows and steps taken by different
governments to tackle their economy.
Technically, the important key resistances are placed in Nifty future are at 18573 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 18808 – 18939 levels. Immediate support is placed at 18474 – 18180 levels.
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