Dear
Trader…
The 30-share BSE benchmark Sensex rose 85 points or 0.14% to
settle at 63,228. The broader NSE Nifty surged 40 points or 0.21% to end at
18,755.
In the Sensex pack, Tata Steel, Tata Motors, Power Grid,
Reliance, UltraTech Cement, and NTPC closed higher, whereas, Bajaj Finance,
IndusInd Bank, Axis Bank, Bharti Airtel and Bajaj Finserv closed lower.
From the sectoral pack, Nifty Metal rose 1.42% and Nifty FMCG
gained 0.50%. Whereas, Nifty Financial Services and IT closed lower. In the
broader market, Nifty Midcap100 gained 0.28%, while Smallcap100 fell 0.42%.
The market breadth was skewed in the favour of the bulls.
About 1,946 stocks gained, 1,638 declined, and 125 remained unchanged on the
BSE.
Global Markets –
Asian shares edged higher as traders were all but certain
that the US Federal Reserve will refrain from hiking interest rates later in
the session.
Tokyo’s Nikkei, however, continued to outperform, jumping
1.6% to a fresh 33-year high, as investors cheered the return of inflation amid
the accommodative policy stance from the Bank of Japan. Chinese blue chips rose
0.2%, while Hong Kong’s Hang Seng fell 0.4%.
Both S&P 500 futures and Nasdaq futures were flat after
US stocks rallied to 14-month highs overnight.
Oil Prices Rise – Oil
prices rose on Wednesday as investors awaited the outcome of the US Federal
Reserve’s June meeting after bullish oil demand growth forecasts from the
International Energy Agency (IEA) and OPEC.Brent crude futures were up 76
cents, or 1%, at $75.05 a barrel. US West Texas Intermediate (WTI) crude was up
63 cents, or 0.9%, at $70.05.
Rupee Strengthens – The
Indian rupee strengthened 0.34% versus the US dollar, and quoted at 82.10 per
dollar, on likely corporate dollar inflows and as the latest inflation data
from the US boosted expectations of a rate pause by the Federal Reserve in
June.
Nifty
futures opened at 18750.05 points against the previous close of 18776.85 and
opened at a low of 18750.00 points. Nifty Future closed with an average
movement of 82.00 points and a rise of around 41.40 points and 18818.25
points…!!
On the
NSE, the midcap 100 index will rise 0.21% and small cap100 index is closing rise
0.12%.
At the
start of intra-day trading August gold opened at Rs.59301 fell from a high of
Rs.59395 points to a low of Rs.59198 with a decline of 20 points, a trend of
around Rs.59198 and JULY Silver opened at Rs.72330, fell from a high of Rs.72554
points to a low of Rs.72220 with a rise of 211 points, a trend of around Rs.72305.
Meanwhile,
The domestic indices rebounded after an initial
phase of profit booking, driven by encouraging WPI inflation data and positive
global cues,while selling in IT and banking stocks kept a check on gains, The
favourable decline in US inflation, driven by lower energy prices and speculation
about a potential pause in the Fed rate hike campaign, brought comfort to
global equities. However, the persistence of higher core inflation levels may
compel the Fed to maintain its hawkish tone during today’s policy announcement
with indication of a prolonged pause.
Technically, the
important key resistances are placed in Nifty future are at 18818 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 18838 – 18909 levels. Immediate support is placed at 18707 –
18676 levels.
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