Dear Trader…
The 30-share BSE
benchmark Sensex advanced 241 points or 0.37% to settle at 65,628. The broader
NSE Nifty Future advanced 102.25 points or 0.52% to end at 19,614.From the
Sensex pack, Wipro, HCL Tech, UltraTech Cement, and Tata Steel were the top
gainers, rising 3.7- 4.3%. NTPC, Tech Mahindra, and Infosys also closed with
gains. On the other hand, M&M, Axis Bank, ITC, Nestle, and Asian Paints
closed with cuts.
Meanwhile, RVNL shares
closed nearly 12% higher after the firm bagged orders worth Rs 604.19 crore
from the Madhya Gujarat Vij Company.The more domestically focused small-caps
and mid-caps gained 1.33% and 0.98%, respectively. Whereas sector-wise, Nifty
Metal advanced 2.28%, Nifty PSU Bank rose 2.43%, and Nifty IT gained 2.06%.
Meanwhile, the market
capitalisation of all listed companies on BSE surged by Rs 2.66 lakh crore to
Rs 315.04 lakh crore.
The market breadth was
skewed in the favour of the bulls. About 2,297 stocks gained, 1,462 declined,
and 182 remained unchanged on the BSE.
Global Markets –
Global shares rose on
Monday, lifted by a growing expectation that the Federal Reserve will not raise
interest rates any more, and by hopes that China’s steady drip feed of policy
stimulus might stabilise the economy.The benchmark Nikkei 225 index gained
0.53%, while Chaina’s Shanghai Composite surged 1.4%. Hong Kong’s Hang Seng
closed 2.5% higher.
Crude Impact – Oil prices were stable on Monday amid expectations that major
producers would keep supplies tight, as hopes grew for the Federal Reserve to
leave interest rates unchanged to avoid dampening the US economy.Brent crude
futures for November crept 17 cents higher to $88.72 a barrel. US West Texas
Intermediate crude (WTI) October futures rose 13 cents to $85.69 a barrel.
Rupee dips – The Indian rupee closed slightly weaker on Monday but managed
to outperform its Asian peers, which dipped after the 10-year US treasury yield
rose on Friday and the dollar showed resilience despite some softening in US
economic data over last week.The rupee closed at 82.7475, little changed from
82.7150 in the previous session. Its Asian peers weakened against the US
dollar, with the Thai baht and Malaysian ringgit leading the losses.
Nifty futures opened at 19562.65 points against the previous close
of 19512.10 and opened at a low of 19508.00 points. Nifty Future closed with an
average movement of 113.00 points and a decline of around 102.25 points and 19614.35
points…!!
On the
NSE, the midcap 100 index will rise 0.98% and small cap100 index is rise 1.33%.
At the
start of intra-day trading August gold opened at Rs.59570 fell from a high of
Rs.59574 points to a low of Rs.59365 with a rise of 13 points, a trend of
around Rs.59408 and September Silver opened at Rs.73728, fell from a high of Rs.73750
points to a low of Rs.73000 with a rise of 544 points, a trend of around Rs.73000.
Meanwhile, Recent release of domestic macroeconomic
data has portrayed a positive picture for the domestic markets, allowing them
to maintain their momentum.
Despite profit booking in Nifty Auto after
reaching an all-time high, the market regained its footing with robust buying
in IT stocks. The increase in the US unemployment rate has solidified
expectations of a pause in rate hikes, and positive global cues have further
boosted market sentiment.
Technically, the
important key resistances are placed in August Nifty future are at 19614
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 19676 – 19707 levels. Immediate support is placed
at 19570 – 19474 levels.
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