Dear Trader…
Markets came under pressure as geopolitical
tensions. Following an initial decline, the Nifty witnessed sharp swings in
both directions before settling at the 24,008 level. Selling was broad-based,
with the Nifty Realty index plunging nearly 4%, led by heavyweights like DLF.
In contrast, defense-related stocks such as Bharat Electronics and Hindustan
Aeronautics outperformed, gaining on expectations of increased defense
spending.
Looking ahead, elevated geopolitical risks have
significantly heightened market volatility, as reflected in the surge of the
India VIX. Investors are advised to adopt a stock-specific approach and refrain
from taking aggressive positions until there is more clarity. A hedged strategy
is recommended to manage near-term risks, while close monitoring of
geopolitical developments will be crucial in shaping the market’s next move.
Nifty futures opened at 24063 points against the
previous close of 24271 and opened at a low of 23984 points. Nifty Future
closed with an average movement of 231 points and a decline of around 206 points
and 24065 points…!!
On the NSE, the midcap 100 index will decline 0.01%
and smallcap 100 index is closing decline 0.61%. Speaking of various sectoral
indices, the NSE saw gains in PSU Bank, Consumer Durables, Media and Healthcare
stocks, while all other sectoral indices closed lower.
At
the start of intra-day trading, June gold opened at Rs.96020, fell from a high
of Rs.96741 points to a low of Rs.95834 with a rise of 93 points, a trend of
around Rs.96261 and July Silver opened at Rs.96190, fell from a high of Rs.96628
points to a low of Rs.95900 with a decline of
253 points, a trend of around Rs.96259.
Meanwhile,
The FIIs as per Friday’s data were net buyers in equity and debt segments both,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 22515.29 crore against gross selling of Rs 20088.09 crore. Thus, FIIs
stood as net buyers of Rs 2427.20 crore in equities. In the debt segment, the
gross purchase was of Rs 4468.38 crore with gross sales of Rs 2949.11 crore.
Thus, FIIs stood as net buyers of Rs 1519.27 crore in debt.
Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
547.56 crore, they stood at net buyers in Debt-VRR segment at Rs 2312.28 crore,
while net sellers in Debt-FAR segment at Rs 245.45 crore. In the hybrid
segment, the gross buying was of Rs 10.73 crore against gross selling of Rs
43.30 crore. Thus, FIIs stood as net sellers of Rs 32.57 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 24065 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 24108 – 24232 levels. Immediate support is placed at 23880
– 23808 levels.
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