Dear
Trader…
While investors
awaited directions from key central bank meetings in a data-heavy week, the
30-share BSE benchmark Sensex rose 99 points or 0.16% to settle at 62,725. The
broader NSE Nifty surged 38 points or 0.21% to end at 18,601.
The market
capitalisation of all listed companies on BSE increased by Rs 1.25 lakh crore
to Rs 287.98 lakh crore. The market breadth was skewed in the favour of the
bulls. About 2,154 stocks gained, 1,574 declined, and 134 remained unchanged on
the BSE.
From the Sensex
stocks, HCL Tech and Infosys were the top gainers, rising over 2%. NTPC,
M&M, TCS, Nestle, and Tech Mahindra also closed higher. Meanwhile, Power
Grid, L&T, Maruti, Titan, HDFC Bank, and Wipro closed lower.
Sector-wise, Nifty IT
advanced 1.51% and Nifty Realty rose 1.41%. Nifty Auto and Nifty Metal also
closed higher. In the broader market, Nifty Midcap100 gained 0.55%, and
Smallcap100 rose 0.87%.
Global Markets –
European stocks rose
in early trading on Monday and world stocks were just below 13-month highs
ahead of key inflation data and US Federal Reserve and European Central Bank
meetings later in the week. Europe’s STOXX 600 was up 0.5% and London’s FTSE
100 was up 0.3%.
Shares were mixed in Asia on Monday after the
S&P 500 logged its fourth winning week in a row. Tokyo’s benchmark Nikkei
225 added 0.5%, while the Hang Seng in Hong Kong was nearly unchanged. In
Seoul, the Kospi declined 0.5%.
Currency Watch – The rupee ended
slightly higher on Monday after trading in a tight range throughout the session
as traders waited for domestic as well as US inflation readings ahead of the
Federal Reserve’s monetary policy path this week. The rupee ended at 82.43 to
the US dollar, compared with 82.4625 in the previous session.
Oil Prices Fall – Oil prices fell $2 on
Monday ahead of a US Federal Reserve meeting as investors tried to gauge the
central bank’s appetite for further rate hikes, while concerns about China’s
fuel demand growth and rising Russian crude supply weighed on the market.Brent
crude futures fell $1.91, or 2.5%, to $72.88 a barrel. US West Texas
Intermediate (WTI) crude was at $68.15, down $2.02 or 2.8%
Nifty futures opened at 18649.95 points against the previous close
of 18631.55 and opened at a low of 18624.10 points. Nifty Future closed with an
average movement of 81.50 points and a rise of around 51.45 points and 18683
points…!!
On the
NSE, the midcap 100 index will down 0.55% and small cap 100 index is closing down
0.87%.
At the
start of intra-day trading August gold opened at Rs.59713 fell from a high of
Rs.59920 points to a low of Rs.59660 with a rise of 55 points, a trend of
around Rs.59876 and JULY Silver opened at Rs.73551, fell from a high of Rs.73766
points to a low of Rs.73230 with a decline of 151 points, a trend of around Rs.73645.
Meanwhile, The domestic indices are moving with caution as
investors step up to a data-loaded week both in the domestic and global
markets. However, the expectations are optimistic, like the Indian CPI data is
forecasted to moderate and the Fed & BoJ are expected to maintain their
policy rates.
Technically, the
important key resistances are placed in Nifty future are at 18683 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 – 18880 levels. Immediate support is placed at 18676 –
18570 levels.
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