Dear Trader…
Under the prevailing caution ahead of key
corporate earnings, the 30-share BSE benchmark Sensex declined 224 points or
0.34% to settle at 65,393. The NSE Nifty dropped 55 points or 0.28% to end at
19,384.
Six of the 13 major sectoral indices logged
gains, with public sector banks rising 0.83%. The high weightage IT fell 0.71%
and was the top sectoral loser.
From the Sensex pack, Infosys, Tata Motors, UltraTech Cement, HDFC Bank, NTPC, and IndusInd Bank closed in the red, while Kotak Bank, Asian Paints, Sun Pharma, Nestle, and Titan closed with gains.
Global Markets –
Tata Consultancy
Services on Wednesday posted its fiscal first quarter profit at Rs 11,074
crore, up 16.8 per cent in comparison to Rs 9,478 crore during the same period
last year. TCS net profit surpassed estimates of Rs 10,866 crore. The IT
services major posted its revenue from operations for Q1FY24 at Rs 59,381 crore, up 12.6 per cent as against Rs
52,758 crore during the first quarter of FY23.While the total income for the
quarter was at Rs 60,778 crore, TCS posted total expenses during Q1FY24 at Rs
45,789 crore. TCS also declared an interim dividend of Rs 9 per equity share of
Re 1 each of the company.
Nifty futures opened at 19535.00 points against the previous close
of 19500.85 and opened at a low of 19450.05 points. Nifty Future closed with an
average movement of 93.85 points and a rise of around 39.55 points and 19461.30
points…!!
On the
NSE, the midcap 100 index will rise 0.43% and small cap100 index is closing rise
0.76%.
At the
start of intra-day trading August gold opened at Rs.58900 fell from a high of
Rs.58915 points to a low of Rs.58720 with a decline of 15 points, a trend of
around Rs.58758 and September Silver opened at Rs.71421, fell from a high of Rs.71498
points to a low of Rs.71154 with a rise of 173 points, a trend of around Rs.71290.
Meanwhile, we remain sanguine with broader-market participation,
which is likely to contribute to the buoyant undertone in the market.
Simultaneously, one must keep a close tab on the mentioned levels and have a
pragmatic approach to the indices. Also, with the commencement of the earning
season, a stock-centric approach should be advisable for better trading
opportunities.
Technically, the
important key resistances are placed in july Nifty future are at 19461 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 19505 – 19606 levels. Immediate support is placed at 19373 – 19303 levels.
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