Dear Trader…
Indian equity indices
closed higher for the third straight session on Tuesday, led by index
heavyweight Reliance Industries, ITC and Infosys and also realty firms on
rising property registrations. The more domestically focussed mid-caps and
small-caps hit fresh record highs on Tuesday.
The BSE benchmark
Sensex surged 152 points or 0.23% to settle at 65,780, while the NSE Nifty rose
41.50 points or 0.21% to end at 19,650.
From the Sensex pack,
Sun Pharma, ITC, Titan, Bajaj Finance, and Nestle closed higher, whereas
UltraTech Cement, Maruti, HDFC Bank, Wipro, and SBI closed with losses.
Meanwhile, the market
capitalisation of all listed companies on BSE increased by Rs 1.65 lakh crore
to Rs 316.66 lakh crore. The market breadth was skewed in the favour of the
bulls. About 2,085 stocks gained, 1,599 declined, and 133 remained unchanged on
the BSE.
Global Markets –
Global equities fell
on Tuesday as weak services sector data rekindled worries over China’s
sputtering post-pandemic economy.
MSCI’s broadest index
of Asia-Pacific shares outside Japan was 1.1% lower, moving away from a
three-week high it touched on Monday.
European equity indexes opened in the red, with
the pan-European benchmark STOXX 600 dropping 0.8% and Germany’s DAX, France’s
CAC 40 and Britain’s FTSE 100 all nursing losses between 0.6 and 1.2%.
The Indian rupee
closed weaker on Tuesday as the local unit slipped to the 83 level for the
first time in nearly two weeks due to broad weakness in Asian currencies and
likely dollar outflows.The rupee ended at 83.04 against the US dollar,
compared with 82.7475 in the previous session.
Oil Slips – Oil prices dipped on Tuesday as fresh data added to the gloom
over the state of China’s post-pandemic recovery, although expectations of an
extension in supply cuts by leading OPEC+ producers limited losses.
Brent crude futures
for November were down 51 cents at $88.49 a barrel, while US West Texas
Intermediate crude (WTI) October futures edged 14 cents lower to $85.41 a
barrel.
Nifty futures opened at 19625.30 points against the previous close
of 19608.80 and opened at a low of 19590.00 points. Nifty Future closed with an
average movement of 74.00 points and a decline of around 41.50 points and 19650.30
points…!!
On the
NSE, the midcap 100 index will rise 1.06% and small cap100 index is rise 0.84%.
At the
start of intra-day trading August gold opened at Rs.59347 fell from a high of
Rs.59460 points to a low of Rs.59254 with a decline of 133 points, a trend of
around Rs.59260 and September Silver opened at Rs.74355, fell from a high of Rs.74355
points to a low of Rs.73250 with a decline of 870 points, a trend of around Rs.73651.
Meanwhile, Strong domestic factors are providing
crucial support for Indian equities, allowing them to maintain their strength
despite attempts by weak global peers to disrupt the mood.
Notably, small and midcap stocks have been
standout performers, with both indices reaching all-time highs. Conversely, the
weak Chinese service PMI has cast a shadow on hopes of an economic rebound in
China, impacting global market sentiments.
Technically, the
important key resistances are placed in August Nifty future are at 19650 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 19707 – 19808 levels. Immediate support is placed at 19570 – 19474
levels.
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