Dear
Trader…
After swinging between
gains and losses, Indian equity markets closed marginally lower following a
topsy-turvy session on Tuesday, dragged by index heavyweight Reliance, Power
Grid and banking stocks, and on profit booking after recent rise.The S&P
BSE benchmark Sensex declined 68 points or 0.1% to settle at 66,459, while the
broader NSE Nifty dropped 31.40 points or 0.16% to end at 19,812.
From the Sensex pack,
Power Grid was the top laggard, falling over 5% as the firm reported a decline
in consolidated net profit in Q1. Bajaj Finserv, IndusInd Bank, SBI, Maruti,
Reliance, and Asian Paints also ended in the red.
On the flip side,
NTPC, Tech Mahindra, HCL Tech, M&M, Axis Bank, and TCS closed
higher.Sector-wise, Nifty PSU Bank declined 0.52% and Nifty Realty fell 1.77%.Whereas,
Nifty IT and Nifty Metal closed higher. In the broader market, Nifty Midcap100
ended flat, while Smallcap100 gained 0.68%.
The market breadth was
skewed in the favour of the bulls. About 2,070 stocks gained, 1,491 declined,
and 167 remained unchanged on the BSE.
Global Markets –
Asian stocks hovered
close to a sixteen-month peak on Tuesday as investors found more cause for cheer
over global economic prospects than reasons to worry, even as data showed risks
remain. Japan’s Nikkei 225 rose 0.8%, while Chian’s Shanghai Composite ended
flat. Meanwhile, South Korea’s Kospi surged 1.3% higher.
European stocks
slipped on Tuesday, with the German DAX pulling back from record highs as
shrinking factory activity in the euro zone and as China underscored growing
risks to the global economy from rising interest rates. The pan-European STOXX
600 index was down 0.5%, with carmakers, real estate and miners leading
sectoral declines.
Currency Watch – The Indian rupee weakened
0.01% versus the US dollar and quoted at 82.26 per dollar after being held in a
narrow range through the session amid a lack of fresh triggers with traders
awaiting key data in the US later this week for fresh cues.
Nifty futures opened at 19862.00 points against the previous close
of 19843.95 and opened at a low of 19785.75 points. Nifty Future closed with an
average movement of 83.25 points and a rise of around 31.40 points and 19812.55
points…!!
On the
NSE, the midcap 100 index will rise 0.03% and small cap100 index is rise 0.68%.
At the
start of intra-day trading August gold opened at Rs.59426 fell from a high of
Rs.59534 points to a low of Rs.59247 with a decline of 311 points, a trend of
around Rs.59257 and September Silver opened at Rs.75330, fell from a high of Rs.75330
points to a low of Rs.74617 with a rise of 747 points, a trend of around Rs.74680.
Meanwhile, The domestic indices traded with a negative
bias below the flattish trend, impacted by global peers. Despite this, mid and
small cap stocks continued to outperform the benchmark index.
IT stocks rallied on hopes of a soft
landing for the US economy. India’s manufacturing activity remained robust,
although marginally it moderated for the second consecutive month in July. The
market direction in the upcoming days will be influenced by key data points,
including auto sales figures, US PMI, and US job data.
Technically, the
important key resistances are placed in August Nifty future are at 19812 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 19880 – 19939 levels. Immediate support is placed at 19676 –
19606 levels.
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