Dear
Trader…
The benchmark BSE Sensex lost 197.97 points or 0.25% to close
at 77,860, while the broader Nifty Future index closed at 23614, lower by 73.95
points or 0.31%.The market capitalization of all listed companies on the BSE
decreased by Rs 1.93 lakh crore to Rs 423.87 lakh crore.
Sector
Watch – Financial stocks were the biggest
drag on the benchmarks, with the Nifty Financial Services index ending 0.5%
lower. Nifty Bank and Nifty PSU also declined, shedding 0.4% and 1.4%,
respectively.
Index heavyweights ICICI Bank and HDFC Bank saw losses of
1.2% and 0.7%, respectively.
The Reserve Bank of India (RBI) cut the repo rate by 25 basis
points to 6.25% at the conclusion of its three-day monetary policy meeting on
Friday, signaling a shift towards a less restrictive policy stance.
On the downside, FMCG major ITC slipped 2.5%, making it the
biggest loser on both benchmarks. Despite volume growth, weak profit margins
weighed on sentiment.
Global
Markets – Global stocks held steady on
Friday as investors awaited key U.S. payrolls data, maintaining cautious
optimism that a full-blown trade war could be avoided. While political
uncertainties lingered, concerns over escalating U.S. tariffs have eased.
Markets are currently pricing in 43 basis points of rate cuts
from the U.S. Federal Reserve this year, with a July rate cut fully
anticipated. However, policymakers appear in no rush to begin the easing cycle.
In Asia, tech stocks rallied, driven by strong interest from
Chinese retail investors, who have embraced the AI theme following homegrown
startup DeepSeek’s recent breakthrough. China and Hong Kong markets ended
higher on Friday, securing weekly gains, fueled by a surge in AI-related
stocks. The CSI 300 Index advanced 1.3%, while the Shanghai Composite rose
1.0%. Hong Kong’s Hang Seng Index climbed 1.2%.
Elsewhere in Asia, Japan’s Nikkei 225 slipped 0.72%, while
South Korea’s Kospi declined 0.58%.
Currency
Watch – The Indian rupee strengthened on
Friday, rising about 0.2% to end at 87.4250 against the U.S. dollar. The
currency declined by nearly 1% on the week, during which global trade war fears
and persistent foreign portfolio outflows pushed it to a record low beyond the
87 mark.
The U.S. dollar held steady on Friday ahead of key U.S.
payroll figures later in the day, with the dollar index, which measures the
greenback against the yen, sterling and other peers, last flat at 107.63.
Crude
Impact – Oil prices edged higher on
Friday following new sanctions on Iran’s crude exports but remained on course
for a third consecutive weekly decline, weighed down by U.S. President Donald
Trump’s renewed trade war with China and tariff threats against other nations.
Brent crude futures were up 43 cents, or 0.6%,
at $74.72 a barrel by 0932 GMT, but were set to fall 2.6% this week.
FII/DII
Tracker – The Foreign institutional
investors (FIIs) offloaded equities worth Rs 3,549.95 crore, while domestic
institutional investors (DIIs) bought equities worth Rs 2,721.66 crore.
Nifty futures opened at 23712 points against the previous
close of 23688 and opened at a low 23521 points. Nifty Future closed with an
average movement of 273 points and Decline of around 74 points and closed 23614
points…!!
Meanwhile,
The Nifty remained volatile as the RBI Governor
announced the monetary policy.
The ongoing earnings have been mixed to subdued while
relentless selling of domestic shares by the FIIs have prompted investors to
take maintain caution.
Technically,
the important key resistances are placed in Nifty future are at 23614 levels,
which could offer for the market on the higher side. stainability above this
zone would signal opens the door for a directional up move with immediate
resistances seen at 23676 – 23808 levels. Immediate support is placed at 23474 –
23404 levels.
Past Performance is not an Indicator of Future Returns. The
securities quoted are for illustration only and are not recommendatory.
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