Dear
Trader…
The 30-share BSE benchmark Sensex rose 36 points or 0.06% to
settle at 77,337. The broader NSE Nifty Future dropped 70 points or 0.30% to
end at 23,498.
From the Sensex pack, Axis Bank and HDFC Bank were the top
gainers, rising over 3% each. ICICI Bank, Kotak Mahindra Bank, IndusInd Bank,
and SBI were other top index gainers. On the flip side, Titan, Bharti Airtel,
Maruti, L&T, and NTPC were the top laggards.
On the sectoral front, Nifty Bank advanced 1.9%, and Nifty
Financial Services surged 1.6%. However, Nifty Realty declined 2.8% and Nifty
Auto fell 1.3%. Small-and mid-caps also fell about 1% each.
Meanwhile, the market capitalisation of all listed companies
on BSE declined by Rs 3.2 lakh crore to Rs 434 lakh crore. The market breadth
was skewed in the favour of the bears.
About 2,285 stocks declined, 1,586 gained, and 103 remained
unchanged on the BSE.
Crude
Oil – Oil prices were largely steady on Wednesday, near
their highest levels in seven weeks as the market weighed concerns over
escalating conflicts against demand worries following an unexpected build in US
crude inventories.
Brent crude futures eased 34 cents to $84.99 a barrel, while
U.S. West Texas Intermediate crude was down 43 cents to $81.14 per barrel.
Nifty futures opened at 23611.25 points against the previous
close of 23568.10 and opened at a low 23432.65 points. Nifty Future closed with
an average movement of 237.10 points and a decline of around 70.15 points and
closed 23497.95 points…!!
Currency
Watch – The Indian rupee ended marginally weaker on
Wednesday as dollar demand from local importers and oil companies pulled the
currency off its two-week high that came on the back of inflows into equity and
debt markets.
The rupee closed at 83.4550 against the U.S. dollar, slightly
lower from its close at 83.41 in the previous session. The currency rose to a
peak of 83.3450 during the session, its highest since June 5.
At the start of intra-day trading, July gold opened at Rs.71740,
fell from a high of Rs.71886 points to a low of Rs.71623 with a rise of 36 points,
a trend of around Rs.71703 and July Silver opened at Rs.88960, fell from a high
of Rs.88974 points to a low of Rs.88710 with a decline of 94 points, a trend of
around Rs.88963.
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 23497 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 23570 – 23676 levels. Immediate support is placed at 23303 –
23272 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
