Dear
Trader…
Indian equities soared on Thursday, with the Nifty future
jumping 1.47% to close at 25,078 breaching the 25,000 mark for the first time
since October 2024, signaling a strong comeback for the bulls. The rally was
triggered by positive comments from U.S. President Donald Trump, who stated
that India had offered to drop tariffs on U.S. goods as part of trade
negotiations and traders swiftly covering their short positions.
All sectoral indices ended in the green. Nifty Realty led
with gains of 1.9%, while auto stocks extended their rally for the third
straight session. Defense stocks remain in focus, buoyed by strong domestic
demand and rising export optimism, having gained nearly 11% this week. Market
volatility remained elevated through the day, partly due to the weekly expiry
of Nifty derivatives. On the institutional front, both FIIs and DIIs turned net
buyers on Wednesday, collectively purchasing around Rs.1,200 crore, providing
further support to the market’s momentum.
Nifty futures opened at 24733 points against the previous
close of 24715 and opened at a low of 24600 points. Nifty Future closed with an
average movement of 544 points and a rise of around 362 points and 25078 points…!!
On the NSE, the midcap 100 index will rise 0.70% and smallcap 100 index is closing rise
0.54%. Speaking of various sectoral indices, Realty, Auto,
Metal, Media and Oil and Gas stocks saw heavy gains on the NSE, while all other
sectoral indices also closed higher.
At the start of intra-day trading, June gold opened at Rs.91593,
fell from a high of Rs.92290 points to a low of Rs.90890 with a decline of 40 points,
a trend of around Rs.92225 and July Silver opened at Rs.94368, fell from a high
of Rs.95303 points to a low of Rs.93800 with a decline of 316 points, a trend
of around Rs.95150.
Meanwhile, globally, the UK posted better-than-expected Q1 GDP growth of
0.7%. Investors now await key global data releases—U.S. Initial Jobless Claims,
U.S. Retail Sales, and Japan’s GDP—which could guide near-term market
direction. On the earnings front, results from Hyundai Motors, BHEL, Credit Access
Grameen, and Eureka Forbes are due on Friday—potentially driving stock-specific
action.
Technically, the important key resistances are placed in Nifty future are at 25202 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 25303 – 25373 levels. Immediate support is placed at 24979 – 24880 levels.
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