Dear Trader…
The 30-share BSE benchmark Sensex rose 118 points or 0.19% to
settle at 62,547. The broader NSE Nifty surged 46 points or 0.25% to end at
18,534.From the Sensex pack, Tata Steel, Maruti, M&M, Sun Pharma,
L&T, and Bharti Airtel closed higher, while Infosys, Wipro, HCL Tech, TCS,
and IndusInd Bank ended in the red.
Two-wheeler maker Bajaj Auto on Friday touched a 52-week high
and closed higher after it reported strong domestic sales in May. Meanwhile,
Hero Motocorp and M&M ended near their 52-week highs after posting strong
sales in May.
Sector-wise, Nifty Metal gained 1.22%, and Nifty Auto rose
0.92%. Nifty FMCG and Nifty PSU Bank
also closed higher. In the broader market, Nifty Midcap100 gained 0.46%, and
Smallcap100 surged 0.50%.
Meanwhile, the market capitalisation of all listed companies
on BSE increased by Rs 1 lakh crore to Rs 285.12 lakh crore. The market breadth
was skewed in the favour of the bulls. About 2,178 stocks gained, 1,366 declined,
and 131 remained unchanged on the BSE.
Global Markets –
Global stocks rose on Friday as sentiment was buoyed by signs
the Fed will skip a rate hike at its next meeting and the approval of US debt
ceiling legislation.
Europe’s broad STOXX 600 index is up 1% and headed for a
second day of gains, with mining stocks, up 4.4%, among the bigger movers.
MSCI’s broadest index of Asia Pacific shares outside Japan rose 2% earlier on
Friday, with Japan’s Nikkei ending the day at its highest close since July 1990.
Oil
prices rise –Oil
prices rose on Friday after a US debt ceiling deal averted a default in the
world’s biggest oil consumer, while attention turned to a meeting of OPEC
ministers and their allies at the weekend. Brent crude futures rose 1.6% to
$75.45 a barrel, while US West Texas Intermediate crude (WTI) was up 1.67% at
$71.27.
Currency
watch – The
Indian rupee ended higher on Friday to record its best week in five as the
dollar weakened on the back of increased bets for a rate pause by the US
Federal Reserve, while persistent dollar inflows into stocks also aided the
sentiment. The rupee closed at 82.3050 against the US dollar, compared
to 82.4050 on Thursday. It had reached a high of 82.28, the highest since May
17.
Nifty
futures opened at 18618.65 points against the previous close of 18570.00 and
opened at a low of 1856.35 points. Nifty Future closed with an average movement
of 119.15 points and a rise of around 65.95 points and 18635.95 points…!!
On the
NSE, the midcap 100 index will up 0.46% and small cap 100 index is closing up 0.50%.
At the
start of intra-day trading, JUNE gold opened at Rs.60275 fell from a high of
Rs.60350 points to a low of Rs.60095 with a rise of 241 points, a trend of
around Rs.60160 and JULY Silver opened at Rs.72999, fell from a high of Rs.72999
points to a low of Rs.72439 with a decline of 94 points, a trend of around Rs.72500.
Meanwhile, This week the Indian market was volatile. However, it was able to regain the momentum led by a positive domestic outlook accompanied by global cues. Auto stocks garnered attention as sales numbers for May came in strong, with a sequential recovery boosting sentiment across the sector, The hope that the Fed will refrain from a rate hike has provided comfort to the global equity market.
Technically, the
important key resistances are placed in Nifty future are at 18635 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 18676 – 18808 levels. Immediate support is placed at 18530 –
18474 levels.
Note :- Before
Act please refer & agree Terms & conditions, Disclaimer, privacy policy
& agreement on www.nikhilbhatt.in
