Dear Trader –
The 30-share BSE benchmark Sensex recovered 570
pts from day’s low and settled at 66,118, rising 173 points or 0.26%. The
broader NSE Nifty Future surged 42.60 points or 0.22% to end at 19,719.
From the Sensex pack, L&T, ITC, and Sun
Pharma were the top gainers, rising 1.5-2%. Maruti, Reliance Industries, Axis
Bank and IndusInd Bank also closed higher, while Titan, SBI, and ICICI Bank
closed lower.
On the sectoral front, Nifty Pharma surged 1.2%,
led by Granules India, Aurobindo Pharma, and Laurus Labs. Nifty PSU Bank, Nifty
FMCG, and Nifty IT also closed higher.In the broader market, Nifty Midcap100
gained 0.9%, and Smallcap100 advanced 0.75%.
Meanwhile, the market capitalisation of all
listed companies on the BSE surged by Rs 1.53 lakh crore to Rs 319.68 lakh
crore. The market breadth was skewed in favour of the bulls. About 1,956 stocks
gained, 1,704 declined, and 139 remained unchanged on the BSE.
Global Markets –
Global stocks inched higher on Wednesday as
investors found a footing after a sharp sell-off the previous day, while US
Treasury yields dipped after hitting their highest level since 2007.The
Europe-wide STOXX 600 index was up 0.2% on Wednesday, after falling 0.6% in the
previous session in its fourth straight daily drop.Germany’s Dax index was up
0.05% while Britain’s FTSE 100 was flat. In Asia overnight, Japan’s Nikkei 225
index rose 0.18%.
Oil Rises – Oil prices rose by more than $1 a barrel on Wednesday as
markets focused on supply tightness heading into winter and a “soft
landing” for the US economy.Brent crude futures were up $1.01, or 1.09%,
to $93.44 a barrel. US West Texas Intermediate crude futures climbed $1.48, or
1.63%, to $91.87 a barrel.
Nifty futures opened at 19634.90 points against the previous close
of 19677.05 and opened at a low of 19534.10 points. Nifty Future closed with an
average movement of 200.00 points and a decline of around 42.60 points and 19719.65
points…!!
On the NSE, the midcap 100 index will rise 0.75% and small cap100
index is rise 0.98%.
At the start of intra-day trading October gold opened at Rs.58450 fell
from a high of Rs.58450 points to a low of Rs.58068 with a decline of 329 points,
a trend of around Rs.58103 and October Silver opened at Rs.71500, fell from a
high of Rs.71515 points to a low of Rs.71604 with a decline of 418 points, a
trend of around Rs.71359.
Meanwhile,
The market inched higher in the second half,
driven by positive openings in European markets. The FMCG and Pharma sectors
outperformed, with investors adopting a defensive approach to navigate global
challenges. However, persistent outflows of foreign funds and rising US bond
yields are expected to keep the broader indices in bleak terrain, in the near
term.
Technically,
the important key resistances are placed in August Nifty future are at 19719 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 19770 – 19838 levels. Immediate support is placed at 19606 –
19575 levels.
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