Dear
Trader…
After two days of consolidation, Indian market witnessed
selling pressure with Nifty future declining 194 points to reach 24,782 level
(-0.78%). Both FIIs and DIIs turned net sellers to the tune of Rs525cr and
Rs238cr respectively, dampening the market sentiment. Amongst sectors, Auto,
Financial Services and Healthcare were the top losers (down 1-2% each),
dragging the benchmark indices. Nifty Metal gained initially during the
session, following China’s announcement of interest rate cut but pared the
gains with market decline.
Asian markets ended with gains, cheering China’s decision to
lower its benchmark lending rates for the first time in seven months, trimming
the 1-year LPR to 3.0% from 3.1% and the 5-year LPR to 3.5% from 3.6%. The IT
index ended with the smallest decline, backed by a rebound in the US market
which closed at a 3-month high on Monday.
Meanwhile, investors are closely tracking the ongoing India
and US talks for a trade agreement, which is likely to happen in three stages.
As per reports, an interim agreement is expected before July when the pause in
US reciprocal tariffs are set to end.
On the earnings front, ONGC, Indigo, PFC, Mankind Pharma,
NTPC Green, RVNL amongst others will be announcing results on Wednesday. We
expect markets to remain range bound and track global cues including progress
on US trade talks with India, China among others.
Nifty futures opened at 25040 points against the previous
close of 24976 and opened at a low of 24745 points. Nifty Future closed with an
average movement of 314 points and a decline of around 194 points and 24782 points…!!
On the NSE, the midcap 100 index will decline 1.62% and smallcap
100 index is closing decline 0.94%. Speaking of various sectoral indices, the
NSE saw gains in Auto, Healthcare, Media, Financial Services, Fmcg Pharma 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.93001, fell from a high of Rs.93927
points to a low of Rs.92810 with a rise of 352 points, a trend of around Rs.93649
and July Silver opened at Rs.95325, fell from a high of Rs.96417 points to a
low of Rs.94899 with a rise of 497 points, a trend of around Rs.95950.
Meanwhile, The
FIIs as per Tuesday’s data were net buyers in equity segment, while they were
net sellers in debt segment, according to data released by the NSDL. In equity
segment, the gross buying was of Rs 13411.05 crore against gross selling of Rs
12473.22 crore. Thus, FIIs stood as net buyers of Rs 937.83 crore in equities.
In the debt
segment, the gross purchase was of Rs 1126.25 crore with gross sales of Rs
2296.85 crore. Thus, FIIs stood as net sellers of Rs 1170.60 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
531.63 crore, they stood at net sellers in Debt-VRR segment at Rs 319.59 crore,
while net sellers in Debt-FAR segment at Rs 319.38 crore.
In the hybrid segment, the gross buying was of Rs 17.75 crore against gross selling of Rs 20.23 crore. Thus, FIIs stood as net sellers of Rs 2.48 crore in hybrid segment.
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