Dear
Trader…
The BSE benchmark Sensex climbed 128 points or 0.17% to close
at 74,611, while the broader NSE Nifty Future advanced by 62 points or 0.27% to
settle at 22,779.
HDFC Bank, Power Grid, Asian Paints, TCS, and Tata Motors led
the gains on the Sensex, while ICICI Bank, Kotak Bank, Bharti Airtel, and Axis
Bank exerted downward pressure on the index. HDFC Bank alone accounted for a
109-point increase in the Sensex.
Meanwhile, the market capitalisation of all listed companies
on BSE surged by Rs 1.98 lakh crore to Rs 408.53 lakh crore. The market breadth
was skewed in the favour of the bears. About 1.926 stocks declined, 1,912
gained, and 119 remained unchanged on the BSE.
Global
Markets –
US rate sensitive, Nifty IT index ended flat after the Fed
decision. Higher interest rates have been weighing on India’s IT sector, as it
leads to in lower client spending in the US, a key market.
Meanwhile, global oil prices fell to a nearly seven-week low
overnight, seen as a positive sign for inflation expectations in India, the world’s
third-largest importer and consumer.
Nifty futures opened at 22702.05 points against the previous
close of 22718.30 and opened at a low of 22688.05 points. Nifty Future closed
with an average movement of 120 points and a decline of around 61.65 points and
22779.95 points…!!
At the start of intra-day trading, June gold opened at Rs.71278,
fell from a high of Rs.71278 points to a low of Rs.70527 with a decline of 29 points,
a trend of around Rs.70696 and May Silver opened at Rs.80044, fell from a high of
Rs.80139 points to a low of Rs.79156 with a decline of 566 points, a trend of
around Rs.79304.
Meanwhile,
Benchmark indices saw moderate gains, mirroring
global trends after the Fed decided to maintain its interest rate, as widely
accepted. The broader market largely traded rangebound, while positive
commentary from the auto companies on recent volume numbers led the sector to
outperform.
Technically,
the important key resistances are placed in Nifty future are at 22779 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 22808 – 22909 levels. Immediate support is placed at 22676 –
22606 levels.
Past Performance is not an Indicator of Future Returns. The
securities quoted are for illustration only and are not recommendatory.
Investment in securities market are subject to market risks. Read Disclaimer
and related all the documents carefully before investing, mentioned on www.nikhilbhatt.in
