Dear Trader…
The Nifty future index ended 123 points or 0.62%
higher at 19981.55, while the S&P BSE Sensex surged 474 points or 0.71% and
ended at 67,572. Both the indexes recovered from a lacklustre start and hit new
all-time highs for the fifth session in a row, with the Nifty 50 closing just
below the 20,000 mark.
From the Sensex pack, ITC, Kotak Mahindra Bank,
and ICICI Bank were the top gainers, rising over 2% each. Maruti, Airtel, SBI,
Sun Pharma, Reliance Industries, and Axis Bank also closed with gains. Whereas,
Infosys, UtraTech Cement, HCL Tech and Bajaj Finserv closed with losses.
Index heavyweight Reliance Industries gained
1.2%, after a new price discovery post its demerger with Jio Financial
Services. The discovered price for Jio Financial Services was Rs 261.85, ahead
of the Street estimates of Rs 160-190.
Sector-wise, Nifty FMCG surged 1.35%, and Nifty
Bank rose 1.13%. Whereas, Nifty IT closed 0.66% lower. Among IT stocks, Infosys
declined 2.2% ahead of its June-quarter earnings later in the day.
Global Markets –
World share markets shuffled sideways on Thursday
as investors looked ahead to a clutch of key central bank meetings next week
and disappointing earnings from Netflix and Tesla pushed Wall Street futures
lower.
Japan’s benchmark Nikkei 225 declined 1.2%, while
South Korea’s Kospi edged down 0.1%. Hong Kong’s Hang Seng was virtually flat,
while the Shanghai Composite shed 0.7%. Meanwhile, the pan-European STOXX 600
index was up 0.3%.
Crude oil prices
– Oil
prices crept higher on Thursday as a lower-than-expected drop in US crude
inventories and a weaker demand outlook kept investors cautious.September
Brent futures climbed 6 cents, or 0.1%, to $79.52 a barrel, while August US West
Texas Intermediate (WTI) crude gained 21 cents, or 0.3%, to $75.56 a barrel.
Rupee rises –The Indian rupee gained against the US dollar on
Thursday, helped by a rally in the Chinese yuan, but a lack of speculative
interest kept the local currency in a tight range.The rupee ended at the
day’s high of 81.9850 per US dollar, up from 82.0925 on Wednesday after trading
in a six-paisa band through the session.
Nifty futures opened at 19845.00 points against the previous close
of 19847.00 and opened at a low of 19796.15 points. Nifty Future closed with an
average movement of 185.40 points and a rise of around 123.10 points and 19970.20
points…!!
On the
NSE, the midcap 100 index will rise 0.25% and small cap100 index is rise 0.37%.
At the
start of intra-day trading August gold opened at Rs.59945 fell from a high of
Rs.59984 points to a low of Rs.59620 with a decline of 62 points, a trend of
around Rs.59728 and September Silver opened at Rs.76525, fell from a high of Rs.76674
points to a low of Rs.76039 with a decline of 98 points, a trend of around Rs.76311.
Meanwhile, Mixed cues from global peers is not
disturbing the mood of the domestic market as FIIs inflows stay put to the
prospects of the Indian economy, Unlocking of value by heavy weights
(like RIL & ITC) is apprising the main indices. The anticipation of a good
Q1 results from banks is providing an extra boost to drive to new highs.
Technically, the
important key resistances are placed in july Nifty future are at 19970 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 20008 – 20108 levels. Immediate support is placed at 19880 –
19808 levels.
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