Dear Trader –
The Sensex ending a 11-session winning streak on
Monday. It fell 242 points, or 0.36%, to end at 67,597 dragged by index
heavyweights Reliance Industries, HDFC Bank and Infosys. The broader NSE Future
index, on the other hand, lost 80 points, or 0.39%, to end at 20,170 Both
benchmarks had gained nearly 2% each last week and closed at record highs.
From the Sensex pack, HDFC Bank, Bharti Airtel,
Infosys, UltraTech Cement, Reliance Industries, and Wipro were the top
laggards, falling 1-2%. On the flip side, Power Grid, Titan, M&M, NTPC, and
Bajaj Finserv closed higher.
Among individual stocks, Vodafone Idea shares
closed 7% lower after the company denied reports of it getting acquired. The
company said that it was not in discussion with anybody to be taken over.Bharat
Electronics shares closed over 3% higher after the firm received orders worth
Rs 3,000 crore.
Sector-wise, Nifty Realty declined 1.37% and
Nifty Metal fell 0.1.11%. Whereas, Nifty PSU Bank and Nifty Auto closed
higher.Meanwhile, Nifty Midcap100 declined 0.42%, and Smallcap100 dropped
0.54%.
The market breadth was skewed in favour of the
bears. About 2,143 stocks declined, 1,642 gained, and 162 remained unchanged on
the BSE.
Global Markets –
World shares fell while the dollar firmed on
Monday as growth concerns tested investors’ mettle ahead of a week brimming
with central bank meetings in countries, including Norway, Sweden, Switzerland,
Britain, the United States and Japan.
The pan-European index slipped 0.5%, dragged down
by health care, bank and chip stocks. US futures S&P 500 and Nasdaq edged
up 0.1%.
Oil Rises – Oil prices rose for
a third straight session, buoyed by forecasts of a widening supply deficit in
the fourth quarter after Saudi Arabia and Russia extended cuts and by optimism
about a recovery in demand in China.
Brent crude futures rose 51 cents, or 0.54%, to
$94.45 a barrel, while US West Texas Intermediate crude futures were at $90.6 a
barrel, up 59 cents, or 0.66%.
Rupee Falls – The Indian rupee
fell to a fresh record closing low on Monday, despite likely help from the
Reserve Bank of India, as rising crude oil prices pushed up dollar demand. The
rupee closed at 83.2675 against the US dollar, compared with 83.1850 in the
previous session. The local unit weakened beyond its previous record closing of
83.2175 hit earlier this month.
Nifty futures opened at 20205.00 points against the previous close
of 20249.60 and opened at a low of 20162.30 points. Nifty Future closed with an
average movement of 79 points and a decline of around 80 points and 20170.00 points…!!
On the NSE, the midcap 100 index will decline 0.42% and small cap100
index is decline 0.54%.
At the start of intra-day trading October gold opened at Rs.58913 fell
from a high of Rs.59215 points to a low of Rs.58913 with a rise of 132 points,
a trend of around Rs.59125 and October Silver opened at Rs.72222, fell from a
high of Rs.72639 points to a low of Rs.72217 with a rise of 171 points, a trend
of around Rs.72325.
Meanwhile,
Domestic markets relinquished their momentum as
they anticipated a raft of policy rate decisions due this week. The investor’s
confidence was also impacted by the expectations of a demand resurgence in
China, combined with crude supply cuts.
With the Fed rate hike fears back on the cards,
as reflected in the elevated US bond yields, the markets await clarification
from major central banks.
Technically,
the important key resistances are placed in August Nifty future are at 20170 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 –
19970 levels.
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