Dear Trader –
The NSE Nifty Futures index settled 0.34% lower at 19,616, and the S&P BSE
Sensex fell 0.38% to 65,629.From the Sensex pack, Wipro, Sun Pharma,
Tech Mahindra, and NTPC closed in the red, while Nestle, UltraTech Cement,
IndusInd Bank, and L&T closed in the green.
Sector-wise, Nifty Metal declined 0.88%, and Nifty
Financial Services fell 0.4%.Whereas auto, FMCG, media, and consumer durables
closed higher. In the broader market, Nifty Midcap100 fell 0.09%, while
Smallcap100 gained 0.15%.
Meanwhile, the market capitalisation of all
listed companies on BSE declined by Rs 50,738 crore to Rs 320.90 lakh crore.
The market breadth was skewed in the favour of the bulls. About 1,806 stocks
gained, 1,896 declined, and 130 remained unchanged on the BSE.
Global Markets –
Global stocks tumbled on Thursday, under pressure
from investor caution over the Middle East conflict and from the largest
one-week rise in 10-year Treasury yields in 18 months, ahead of remarks by
Federal Reserve Chair Jerome Powell and a heavy earnings day.
In Asian markets, the Nikkei 225 finished the day
1.86% lower at 31,430, while the Shanghai Composite closed 1.74% lower at 3005.Meanwhile,
the pan-European STOXX 600 fell 1% to hit nearly a two-week low, in a
broad-based selloff, led by automakers and rate-sensitive real estate firms.
Oil Prices Fall – Oil prices fell
about 2% on Thursday as the US eased sanctions on Venezuela to allow more oil
to flow globally, but fears that Israel’s military campaign in Gaza may
escalate to a regional conflict kept a lid on losses.Brent futures for
December were down $1.47, or 1.6%, to $90.03 a barrel. US West Texas
Intermediate (WTI) futures for December contract fell 1.3%, or $1.3, to $85.98
a barrel.
Rupee Ends Flat – The Indian rupee
settled little changed on Thursday as likely aggressive dollars sales from the
central bank countered the impact of the global risk aversion triggered by the
escalating conflict in the Middle East. The rupee ended at 83.2450 to the US dollar
against 83.2575 in the previous session.
Nifty futures opened at 19575.00 points against the previous close
of 19683.35 and opened at a low of 19527.00 points. Nifty Future closed with an
average movement of 142.95 points and a decline of around 67.25 and 19616.00 points…!!
At the start of intra-day trading December gold opened at Rs.59720
fell from a high of Rs.60041 points to a low of Rs.59720 with a decline of 71 points,
a trend of around Rs.60002 and December Silver opened at Rs.71801, fell from a
high of Rs.72200 points to a low of Rs.71525 with a rise of 219 points, a trend
of around Rs.71676.
Meanwhile,
Amid increasing global political strain, US
treasury yield, and underwhelming IT earnings, the domestic market continued to
trade with a minor cut. However, some optimism was evident in the equity market
given global efforts to stabilize the West Asia conflict, which de-escalated
crude prices trend.
Auto sector stocks outperformed, driven by Q2 results
outcome.Investors are closely monitoring the Q2 earnings season,US Fed Chair
speak and West Asia developments.
Technically,
the important key resistances are placed in October Nifty future are at 19616 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 – 19770 levels. Immediate support is placed at 19505 –
19474 levels.
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