Dear
Trader…
Gains from auto, financial, and metal
stocks were offset by the losses in banking, FMCG and IT stocks. The S&P
BSE Sensex dropped 29 points or 0.04% to settle at 66,356, while Nifty future dropped
02 points or 0.01% to end at 19,691.Seven of the 13 major sectoral indices
logged gains, with the metal index rising 2.94% and the auto index adding
0.95%.
From the Sensex pack, Asian Paints closed
4% lower after Q1 results. Meanwhile, ITC, L&T, SBI, IndusInd Bank, Kotak
Bank, Wipro, and Axis Bank also ended in the red.Whereas, JSW Steel and Tata
Steel were the top gainers, rising over 3% each. NTPC, UltraTech Cement, Tata
Motors, and Titan also closed higher.
The market capitalisation of all listed
companies on BSE increased by Rs 67,727 crore to Rs 302.65 lakh crore. The
market breadth was skewed in the favour of the bears. About 1,809 stocks
declined, 1,731 gained, and 139 remained unchanged on the BSE.
Global
Markets –
Global stock markets and Wall Street
futures were mixed on Tuesday after China’s ruling Communist Party promised to
shore up its sagging economy ahead of a Federal Reserve meeting. Traders hope
the US Federal Reserve chairman will announce this interest rate cycle’s final
increase.
London and Shanghai advanced while Tokyo
and Paris retreated. In early trading, the FTSE 100 in London rose 0.1%. The
CAC 40 in Paris lost less than 0.1%, and the DAX in Frankfurt shed less than
0.1%.On Wall Street, the future for the benchmark S&P 500 was 0.15% higher
ahead of Wednesday’s Fed meeting. That for the Dow Jones Industrial Average was
little-changed.
Oil prices rise – Oil prices were steady on Tuesday, hovering near three-month
highs as signs of tighter supplies and pledges by Chinese authorities to shore
up the world’s second-biggest economy lifted the sentiment, while weaker
Western economic data weighed.Brent futures were up 10 cents, or 0.12%, at
$82.57 a barrel, while US West Texas Intermediate (WTI) crude was up 11 cents
at $78.84.
Currency Watch – The Indian rupee snapped a three-day winning streak on Tuesday
as the Reserve Bank of India (RBI) likely intervened through dollar purchases,
while importer hedging further weighed. The rupee ended at 81.8700 against the
dollar, compared with 81.8150 at the previous close.
Nifty
futures opened at 19744.10 points against the previous close of 19692.70 and
opened at a low of 19632.00 points. Nifty Future closed with an average
movement of 112.10 points and a rise of around 01.55 points and 19691.15
points…!!
On the
NSE, the midcap 100 index will rise 0.39% and small cap100 index is decline 0.11%.
At the
start of intra-day trading August gold opened at Rs.59166 fell from a high of
Rs.59218 points to a low of Rs.59041 with a rise of 90 points, a trend of
around Rs.59166 and September Silver opened at Rs.74379, fell from a high of Rs.74765
points to a low of Rs.74201 with a rise of 324 points, a trend of around Rs.74420.
Meanwhile,Indian indices hovered along the flat line,
waiting ahead for the crucial decision of Fed policy. Metal stocks rose due to
China’s commitment to provide policy support to its realty sector, while
utilities were up in anticipation of demand & improvement in operating
margin.
The recent correction of the domestic
market can be attributed to several factors, including muted start to Q1
results, a reversal in FII activity, a rising dollar index, and an increase in
crude oil prices.
Technically, the
important key resistances are placed in july Nifty future are at 19691 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 19733 – 19808 levels. Immediate support is placed at 19570 –
19505 levels.
Note :- Before Act please refer & agree Terms
& conditions, Disclaimer, privacy policy & agreement on www.nikhilbhatt.in
