Dear Trader –
The 30-share BSE benchmark Sensex rose 52 points
or 0.08% to settle at 67,519. The broader NSE Nifty Future 61.45 points or
0.31% to end at 20,186.
From the Sensex pack, M&M, Tata Steel, Tech
Mahindra, and Nestle were the top gainers, rising 1-2.5%. On the flip side,
Asian Paints, ITC, Sun Pharma, Bajaj Finserv, Bharti Airtel, and Titan closed
with losses.
Barring FMCG,media, and consumer durables, all
the other major sectors logged gains, with auto rising over 1% and realty
stocks adding 1.64%. Meanwhile, Nifty Midcap100 gained 1.17%, and Smallcap100
rose 1.31%.
From individual stocks, Bombay Dyeing shares
closed 9% higher following a nod from the Wadia Group company Board to the
proposal to sell the land parcel of about 22 acres in Worli, Mumbai, to Goisu
Realty, a subsidiary of Japanese realty developer Sumitomo for Rs 5,200 crore.
The market breadth was skewed in favour of the
bulls. About 2,387 stocks gained, 1,275 declined, and 142 remained unchanged on
the BSE.
Global Markets –
Shares were mostly higher in Asia on Thursday
after a highly anticipated report showed inflation accelerated across the US in
August, but not by much more than expected.The subdued increase in US
prices eased worries over the likelihood of another interest rate hike by the
Federal Reserve, leading Tokyo’s Nikkei 225 to surge 1.4% to 33,168.10. In
Seoul, the Kospi jumped 1.1%, to 2,561.45.The pan-European STOXX 600
inched 0.36% higher, supported by gains in healthcare and energy stocks.
Crude Oil – Oil rebounded on
Thursday as expectations of a tighter global crude supply outlook for the rest
of 2023 overshadowed concerns over weaker economic growth and rising US
inventories.
Brent crude rose 66 cents, or 0.7%, to $92.54 a
barrel. US West Texas Intermediate crude (WTI) was up 62 cents, or 0.7%, at
$89.14.
Rupee Declines – The Indian rupee
declined slightly on Thursday as the impact of equity inflows and some softness
in Brent crude oil futures was more than offset by importer hedging and oil
companies’ dollar demand, The rupee closed at 83.03 against the US dollar,
compared with 82.9850 in the previous session.
Nifty futures opened at 20150.00 points against the previous close
of 20125.15 and opened at a low of 20095.00 points. Nifty Future closed with an
average movement of 109.95 points and a decline of around 61.45 points and 20186.60
points…!!
On the NSE, the midcap 100 index will rise 1.17% and small cap100
index is rise 1.31%.
At the start of intra-day trading October gold opened at Rs.58550 fell
from a high of Rs.58561 points to a low of Rs.58411 with a rise of 108 points,
a trend of around Rs.58485 and October Silver opened at Rs.71160, fell from a
high of Rs.71303 points to a low of Rs.70370 with a decline of 754 points, a
trend of around Rs.70665.
Meanwhile,
The market traded range-bound after touching a
new high as higher-than-expected US inflation and anticipation of hawkish ECB
policy meetings later today (Thursday) impacted investor sentiment. Concern
over valuation and inflation trajectory due to increasing oil prices may
navigate the market into a consolidation phase in the near-term.
Technically,
the important key resistances are placed in August Nifty future are at 20186 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 20202 – 20303 levels. Immediate support is placed at 20008
– 19939 levels.
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