Dear Trader –
The NSE Nifty Futures
index rose 0.74% to 20,953 points, notching a record high for the third session
in a row. The S&P BSE Sensex climbed 0.63% to 69,296, a record close for
the second day.
From the Sensex pack,
Power Grid and NTPC were the top gainers, rising over 4% each. SBI, ICICI Bank,
M&M, Titan and Maruti also closed in the green. On the flip side, HUL, HCL
Tech, Bajaj Finance, and Wipro closed in the red.
Meanwhile, Adani Group
stocks also closed up to 20% higher. Adani Green Energy, Adani Energy
Solutions, and Adani Total Gas closed in 20% upper circuit. While NDTV and
Adani Enterprises surged over 17%, Adani Ports and Adani Power gained over 15%.
Adani Wilmar closed in 10% upper circuit.
On the sectoral front, Nifty Metal advanced over
3%, led by Adani Enterprises. Nifty Bank and Oil Gas index also closed over 1%
higher. Whereas, Nifty FMCG, IT, Media, Realty, and Healthcare closed lower.
Nifty Smallcap100 and
Nifty Midcap100 gained 0.47% and 0.11%, respectively, also hitting new all-time
highs.The market capitalisation of all listed companies on BSE increased by Rs
3.04 lakh crore to Rs 346.51 lakh crore. The market breadth was skewed in
favour of the bears. About 1,969 stocks declined, 1,787 gained, and 119
remained unchanged on the BSE.
Global Markets –
Asian shares declined
on Tuesday on heavy selling of property and technology shares. Hong Kong’s Hang
Seng dropped 2.4%, while the Shanghai Composite lost 1.7% as worries flared
over weakness in the Chinese economy.European stocks were muted on Tuesday as
gains in energy shares offset a drop in miners and healthcare. The pan-European
STOXX 600 index was little changed, stalling around a four-month high, after
snapping a three-day winning streak on Monday.
Oil Prices Fall – Oil prices fell on Monday on concern about a drop in demand
and on continued uncertainty about the depth and duration of OPEC+ supply cuts.
Brent crude futures settled down 85 cents, or 1.08%, at $78.03 a barrel. US West
Texas Intermediate crude futures finished down $1.03, or 1.39%, at $73.04.
Currency Watch – The Indian rupee hovered in
a tight range on Tuesday, ending little changed against the US dollar, as
likely intervention by the central bank offset local demand for the
greenback.The rupee ended at 83.3825 against the dollar, barely changed from
its close at 83.3650 in the previous session.
Nifty futures opened at 20855.05 points against the previous close
of 20798.90 and opened at a low of 20802.00 points. Nifty Future closed with an
average movement of 152.95 points and decline of around 154.10 and 20953.00 points…!!
At the start of intra-day trading December gold opened at Rs.62826
fell from a high of Rs.62826 points to a low of Rs.62284 with a decline of 28 points,
a trend of around Rs.62341and December Silver opened at Rs.76264, fell from a
high of Rs.76340 points to a low of Rs.75577 with a decline of 478 points, a
trend of around Rs.75690.
Meanwhile,
The aura of the state
election results and other positive factors like above-expected earnings and
GDP growth data are supporting the return of FII flows to the Indian market.
The RBI’s monetary policy meeting is expected to be status quo. However, the
commentary on economy growth, foodgrain prices and inflation trajectory will be
closely watched.
Technically,
the important key resistances are placed in October Nifty future are at 20953 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 21188 – 21303 levels. Immediate support is placed at 20880 –
20676 levels.
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