Dear
Trader…
The 30-share BSE benchmark Sensex rose 345
points or 0.55% to settle at 62,846. The broader NSE Nifty surged 99 points or
0.54% to end at 18,598.
In the Sensex pack, M&M, Titan, and
Tata Steel were the gainers, rising 2-3%. HDFC, UltraTech Cement, SBI, ITC, and
IndusInd Bank also closed with gains. On the flip side, HCL Tech, Power Grid,
Maruti, Wipro, TCS, and ICICI Bank closed with cuts.
Sectorally, Nifty Consumer Durables advanced
1.29% and Nifty FMCG Metal rose 0.94%. Nifty Financial Services and Nifty Bank
also closed higher. In the broader market, Nifty Midcap100 gained 0.38%, and
Smallcap100 rose 0.30%.
Meanwhile, the market capitalisation of all
listed companies on BSE surged by Rs 1.1 lakh crore to Rs 283.77 lakh crore.
The market breadth was skewed in the favour of the bulls. About 1,979 stocks
gained, 1,652 declined, and 180 remained unchanged on the BSE.
Global
Markets –
European stock indexes slipped slightly on Monday, lacking
momentum in thin trade while optimism about the US having reached a debt
ceiling deal over the weekend kept Wall Street futures positive.
Asian stocks mostly rose, with Tokyo’s
Nikkei surging to a new 33-year high. But Chinese stocks fell after data
showing profits slumping at China’s industrial firms was the latest sign of an
economic slowdown there.
European stock indexes initially opened
higher, then faltered. Europe’s STOXX 600 was flat on the day. But Wall Street
futures rose, with S&P 500 e-minis up 0.3% and Nasdaq e-minis up 0.4%.
Crude oil – Oil prices were steady
after US leaders reached a tentative debt ceiling deal, possibly averting a
default in the world’s largest economy and oil consumer, but concerns about
further interest rate hikes capped gains. Brent crude futures climbed 14 cents,
or 0.2%, to $77.09 a barrel, while US West Texas Intermediate crude was at
$72.88 a barrel, up 21 cents, or 0.3%.
Rupee weakens – The Indian rupee
weakened 0.07% versus the US dollar and quoted at 82.63 per dollar, tracking a
fall in the Chinese yuan, while surging US yields pushed down rupee forward
premiums.
Nifty
futures opened at 18697.15 points
against the previous close of 18573.30 and opened at a low of 18648.20 points. Nifty Future closed with an average movement of 69.00 points and a rise of
around 100.00 points
and 18673.70
points…!!
On
the NSE, the midcap 100 index will up 0.38% and small cap 100 index is closing up 0.30%.
At
the start of intra-day trading, JUNE gold opened at Rs.59406 fell from a high of Rs.59559 points to a low of Rs.59721 with a rise of 177 points,
a trend of around Rs.59530 and JULY Silver opened at Rs.71550, fell from a high of Rs.71556 points to a low of Rs.71061 with a decline of 79 points,
a trend of around Rs.71150.
Meanwhile,
The domestic
benchmarks experienced a strong rally and came close to their lifetime highs,
primarily driven by positive global cues and robust predictions of domestic
economic growth, the US PCE inflation rate that came in higher than anticipated
raised the prospect of another rate hike by the Fed in its June meeting.
Technically,
the important key resistances are placed in Nifty future are at 18673 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 18707 – 18808 levels. Immediate support is placed at 18606 –
18474 levels.
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