Dear Trader…
The BSE
Sensex index ended 106 points or 0.16% lower at 66,160, while Nifty50 fell 14
points or 0.07% to settle at 19,646.While the benchmarks declined, the broader
peers showed resilience with the small-caps and midcaps climbing 0.19% and
0.55%, respectively, on the day.
Japan’s
central bank opted to keep its benchmark interest rate at minus 0.1% but
fine-tuned its bond purchases to allow greater flexibility.
Five of the 13 major sectoral indexes logged
losses, with high weightage financials losing 0.41% and IT falling 0.86%. Both
IT and financials indexes lost over 1% each for the week.
From the
Sensex pack, HDFC Bank, Bajaj Finserv, Tata Motors, TCS, HCL Tech, and Axis
Bank ended in the red, while NTPC, Power Grid, M&M, JSW Steel, Bajaj
Finance, and Reliance Industries ended with gains.
On the
sectoral front, Nifty IT fell 0.86%, and Nifty Bank dropped 0.46%. Whereas,Nifty
Realty rose 1.83% and Nifty FMCG gained 0.88%. In the broader market, Nifty
Midcap 100 touched its new 52-week high of 37,378 and closed 0.55% higher.
Meanwhile, the market
capitalisation of all listed companies on BSE increased by Rs 64,364 crore to
Rs 304.14 lakh crore. The market breadth was skewed in favour of the bulls.
About 1,827 stocks gained, 1,694 declined, and 170 remained unchanged on the
BSE.
Global Markets –
Global
shares paused for breath on Friday as investors digested monetary policy steps
from Japan and inflation data on both sides of the Atlantic in the hope of more
evidence to persuade central banks to end their rate hiking cycle.Tokyo’s
Nikkei 225 dipped more than 2% during the day trade but in the end closed 0.4%
lower. In Europe, the pan-European STOXX 600 index slipped 0.3%.
Oil prices –
Oil prices
were steady on Friday, but on track for a fifth straight week of gains with
investors optimistic that healthy demand and supply cuts will keep prices
buoyant. Brent crude slipped 28 cents to $83.96 a barrel, while US West Texas
Intermediate (WTI) crude dipped 18 cents to $79.91 a barrel.
Rupee logs worst session – The Indian rupee
logged its worst single-day fall in two months on Friday, while also snapping a
two-week gaining streak, as broad gains in the US dollar hurt.The rupee ended
at 82.2475 against the dollar, compared to its close of 81.93 on Thursday. The
domestic unit saw its worst session since June 5, falling 0.39% on the day. The
currency posted a 0.3% decline for the week.
Nifty futures opened at 19779.90 points against the previous close
of 19811.40 and opened at a low of 19678.00 points. Nifty Future closed with an
average movement of 117.00 points and a rise of around 59.60 points and 19751.80
points…!!
On the
NSE, the midcap 100 index will rise 0.55% and small cap100 index is decline 0.19%.
At the
start of intra-day trading August gold opened at Rs.59091 fell from a high of
Rs.59198 points to a low of Rs.58987 with a rise of 217 points, a trend of
around Rs.59167 and September Silver opened at Rs.73753, fell from a high of Rs.73947
points to a low of Rs.73600 with a rise of 172 points, a trend of around Rs.73919.
Meanwhile, The better-than-expected US Q2
GDP data, though positive, hindered the mood of the domestic market as it
signalled the chances of another rate hike. The Fed chief’s comments about a
data-centric approach without ruling out rate hikes added to the uncertainty.
Furthermore, the reversal of the buying trend by
FII and the rise in US bond yields contributed to market volatility. However,
Asian markets remained largely positive due to the BOJ’s decision to retain the
policy rate, contrary to speculation about the removal of stimulus measures.
Technically, the
important key resistances are placed in july Nifty future are at 19751 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 19770 – 19880 levels. Immediate support is placed at 19606 –
19474 levels.
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