Dear
Trader…
Indian equity markets demonstrated resilience despite several
headwinds, with Nifty future closing with gains of 42 points (+0.17%) at
24,817, recovering from a sharp 194 point (-0.78%) fall on Tuesday. Global
markets declined overnight on escalating Israel-Iran tensions, US growth
concerns, and reduced hopes for a Fed rate cut. Nifty Realty (+1.7%) and Pharma
(+1.3%) led sectoral gains.
Globally, Brent crude jumped 2% to over $66/bbl amid reports
of a potential Israeli strike on Iranian nuclear facilities, adding to
geopolitical concerns. Fed officials maintained a hawkish stance, dampening
near-term rate cut hopes and warning of a sustained tariff-driven inflation.
UK inflation also came in higher at 3.5% YoY, the highest in
over a year, potentially impacting the Bank of England’s next rate decision.
Domestically, India’s core sector output grew a modest 0.5% in April’25, an
8-month low, signalling a moderation in industrial activity.
Nifty futures opened at 24755 points against the previous
close of 24774 and opened at a low of 24720 points. Nifty Future closed with an
average movement of 299 points and a rise of around 42 points and 24817 points…!!
On the NSE, the midcap 100 index will rise 0.78% and smallcap 100 index is closing rise
0.38%. Speaking of various sectoral indices only Consumer
Durables stocks were seen selling on the NSE, while all other sectoral indices
closed higher.
At the start of intra-day trading, June gold opened at Rs.95344,
fell from a high of Rs.95705 points to a low of Rs.95150 with a rise of 670 points,
a trend of around Rs.95511 and July Silver opened at Rs.97447, fell from a high
of Rs.97995 points to a low of Rs.97447 with a rise of 426 points, a trend of
around Rs.97714.
Looking ahead, we expect markets to remain firm, supported by healthy domestic macros, decent corporate earnings, and prospects of an above-normal monsoon this year. Institutional buying in broader markets should provide further support. Key earnings due Thursday include ITC, Sun Pharma, Grasim, CONCOR, and GMR Airports.
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