Dear Trader…
The 30-share BSE benchmark Sensex rose 64 points
or 0.10% to settle at 65,344. The broader NSE Nifty surged 24 points or 0.12%
to end at 19,409.
In the Sensex pack, Reliance Industries and Tata
Steel were the top gainers, rising over 3% each. Bharti Airtel, Sun Pharma,
IndusInd Bank, Kotak Bank, and ICICI Bank also ended higher. On the flip side,
HCL Tech, Titan, Power Grid, Wipro, TCS, HUL, and Axis Bank closed in the red.
Sector-wise, Nifty IT declined 1.24%, and Nifty
FMCG fell 0.77%. Whereas Nifty Metal rose 1.69% and Nifty Oil & Gas gained
0.59%. In the broader market, Nifty Midcap100 dropped 0.38%, and Smallcap100
fell 0.58%.
The market breadth was skewed in the favour of
the bears. About 2,196 stocks declined, 1,479 gained, and 155 remained
unchanged on the BSE.
Global Markets –
Global stocks took a breath on Monday after a
surprisingly low reading on Chinese inflation and ahead of data on US inflation
and corporate earnings later in the week. Hong Kong’s Hang Seng gained 0.5% and
the Shanghai Composite index edged 0.2% higher. Tokyo’s Nikkei 225 slipped
0.6%, while the Kospi in Seoul shed 0.2%.The pan-European STOXX 600 index rose
0.1% by 0840 GMT while US stock S&P futures declined 0.2% and Nasdaq
futures fell by 0.3%.
Oil prices decline – Oil
prices dipped in Asian trade on Monday as investors tread cautiously ahead of
fresh economic data from top consumers the United States and China this week,
though expected crude supply cuts from Saudi Arabia and Russia limited
losses.Brent crude futures fell 40 cents, or 0.5%, to $78.07 a barrel, and US
West Texas Intermediate crude was at $73.44 a barrel, also down 42 cents, or
0.57%.
Currency watch – The
Indian rupee ended higher on Monday, snapping a four-session losing streak, as
weaker-than-expected US jobs data lowered expectations that the Federal Reserve
would be more hawkish than previously anticipated.The rupee ended up 0.2% at
82.5650 to the dollar, compared with 82.74 and recorded its best session since
June 16. The domestic currency last week hit its lowest level since May 30 at
82.75.
Nifty
futures opened at 19422.20 points against the previous close of 19398.50 and
opened at a low of 19375.15 points. Nifty Future closed with an average
movement of 106.10 points and a rise of around 11.05 points and 19409.55
points…!!
On the
NSE, the midcap 100 index will decline 0.38% and small cap100 index is closing decline
0.58%.
At the
start of intra-day trading August gold opened at Rs.58739 fell from a high of
Rs.58739 points to a low of Rs.58595 with a decline of 85 points, a trend of
around Rs.58697 and September Silver opened at Rs.71284, fell from a high of Rs.71316
points to a low of Rs.70882 with a decline of 372 points, a trend of around Rs.70938.
Meanwhile,Indian equities faced broad-based
weakness, but the benchmark managed to stay marginally positive with the
support of strong buying in heavyweight stocks. The weakness was led by IT
stocks, as the sector is set to kick off the Q1 result season with expectations
of soft earnings and Additionally, cues from the US markets are unfavourable, as
concerns about another rate hike persist despite expectations of a fast cooling
of future US CPI inflation data.
Technically, the
important key resistances are placed in july Nifty future are at 19409 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 19474 – 19575 levels. Immediate support is placed at 19303 –
19188 levels.
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