Dear
Trader…
The 30-share BSE benchmark Sensex surged 308 points or 0.40%
to settle at 77,301. The broader NSE Nifty Future gained 103 points or 0.44% to
end at 23,570.
Meanwhile, the market capitalisation of all listed companies
on BSE surged by Rs 2.42 lakh crore to Rs 437.3 lakh crore.
Nifty Bank index also closed 0.9% higher, led by IDFC First
Bank, ICICI Bank, and Axis Bank. In the broader market, Nifty Smallcap rose
1.1%, while Nifty Midcap100 surged 0.5%.
Among individual stocks, Hindustan Aeronautics closed over 6%
higher after the company announced that the Defence Ministry had issued a
request for proposal (RFP) for 156 light combat helicopters (LCH).
Global
Markets –
World shares ticked higher on Tuesday as an uneasy calm held
in Europe and traders awaited remarks from a bevy of U.S. Federal Reserve
officials.
Europe’s STOXX 600 share index was up 0.2%, with the French
benchmark flat, the spread between German and French bonds narrowed and the
euro held steady.
Earlier in the day, Asian shares rose, following on from
Monday’s gains on Wall Street, and that left MSCI’s world share index up 0.14%,
not far off last week’s all-time highs.
Crude
Oil – Oil prices were largely stable on
Tuesday, as traders awaited signs of a hoped-for summer demand boost to prop up
prices even as strong supply threatens to blunt gains.
Benchmark Brent crude futures were down 16 cents, or 0.2%, to
$84.09 per barrel after climbing in the previous session. U.S. West Texas
Intermediate crude futures, which also rose on Monday, were down 15 cents, or
0.2%, to $80.18 a barrel. Both benchmarks gained around 2% on Monday, closing
at their highest levels since April.
Nifty futures opened at 23511.15 points against the previous
close of 23466.65 and opened at a low 23511.15 points. Nifty Future closed with
an average movement of 98.85 points and a rise of around 103.35 points and
closed 23570.00 points…!!
Rupee
Strengthen – The Indian rupee
strengthened on Tuesday on dollar sales by state-run banks and likely inflows
that helped the currency break out of the narrow range it traded in last week.
The rupee closed at 83.41 against the U.S. dollar, up 0.2% from its close at
83.5550 on Friday.
At the start of intra-day trading, July gold opened at Rs.71575,
fell from a high of Rs.71692 points to a low of Rs.71175 with a rise of 35 points,
a trend of around Rs.71485 and July Silver opened at Rs.89365, fell from a high
of Rs.89472 points to a low of Rs.88207 with a decline of 445 points, a trend
of around Rs.88375.
Meanwhile,
The Indian market is responding positively to the
upcoming budget, which is anticipated to strike a balance between growth and
populism. Similarly, it is also taking cues from positive global market trends,
with the US moving steadily towards the presidential election in November.
Market volatility has decreased over the month, which is contributing to a
short-term trend.
Technically, the
important key resistances are placed in Nifty future are at 23570 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 23606 – 23676 levels. Immediate support is placed at 23404 –
23303 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
