Dear
Trader…
The 30-share BSE benchmark Sensex surged 145 points or 0.18%
to settle at 80,665. The broader NSE Nifty Future gained 100 points or 0.41% to
end at 24,622.
From the Sensex pack, SBI, NTPC, and UltraTech Cement were
the top gainers, rising 2-2.5%. M&M, Bajaj Finance, Tata Motors, and Maruti
Suzuki also closed with gains, while Asian Paints, Tata Steel, Axis Bank, JSW
Steel, and Tech Mahindra ended with losses.
Most IT stocks ended the day in negative territory after
rising up to 4.5% in early trade. Tech Mahindra, TCS, and Infosys closed up to
0.4% lower, while HCL Tech was the only Sensex IT stock to close 0.56% higher.
On the sectoral front, all indices closed higher except for
Nifty IT. Meanwhile, Nifty PSU rose over 3%, while Nifty Auto, Media, Pharma,
Realty, Healthcare, and Oil & Gas closed 1-2% higher.
Meanwhile, the market capitalisation of all listed companies
on BSE increased by Rs 2.7 lakh crore to Rs 455.08 lakh crore. The market
breadth was skewed in the favour of the bulls. About 1,979 stocks gained, 2,068
declined, and 121 remained unchanged on the BSE.
Global
Market Check –
European stocks opened lower, after weak economic data from
China helped set a cautious tone. S&P 500 futures and Nasdaq futures were
both marginally higher. Japan’s Nikkei was shut, but futures were trading at
41,285 compared to a cash close of 41,190.
Crude
Oil – Oil held its ground on Monday as downward
pressure from a stronger U.S. dollar and concern about demand in top importer
China offset support from strong demand elsewhere and OPEC+ supply restraint. Brent
crude futures were up 8 cents, or 0.1%, at $85.11 a barrel. U.S. West Texas
Intermediate crude gained 19 cents, or 0.2%, to $82.40.
Nifty futures opened at 24599 points against the previous
close of 24521 and opened at a low 24543 points. Nifty Future closed with an
average movement of 118 points and a rise of around 100 points and closed 24622
points…!!
Rupee
Ends Lower – The Indian rupee ended lower on
Monday, pressured by a decline in the Chinese yuan and tracking losses in Asian
peers amid rising odds of Donald Trump’s re-election as U.S. president. The
rupee closed at 83.5925 against the U.S. dollar, lower than its close at
83.5350 in the previous session. The dollar index was down 0.2% at 104 while
the Korean won fell 0.5%, leading losses among major Asian currencies.
At the start of intra-day trading, August gold opened at Rs.73105,
fell from a high of Rs.73440 points to a low of Rs.73035 with a rise of 95 points,
a trend of around Rs.73388 and July Silver opened at Rs.90903, fell from a high
of Rs.93183 points to a low of Rs.92325 with a decline of 478 points, a trend
of around Rs.92600.
Meanwhile,
The Indian market continues to experience
optimism driven by positive expectations from the upcoming Union Budget, robust
FII inflows, and better-than-expected results from the IT sector. Additionally,
the initial results from PSU banks have triggered a strong rally in the PSU
index. However, the degree of optimism in the broad market is moderating as we
are heading towards the budget D-day next week.
Technically, the
important key resistances are placed in Nifty future are at 24622 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 24676 – 24770 levels. Immediate support is placed at 24474 –
24303 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
