Dear
Trader…
Following positive cues from the global
markets and ahead of the US GDP quarterly growth data due later in the day,
benchmark equity indices closed higher for the fourth straight day on Thursday,
led by index heavyweights Reliance, Infosys and Bajaj Finance.
The 30-share BSE benchmark Sensex advanced
349 points or 0.58% to settle at 60,649. The broader NSE Nifty surged 101
points or 0.57% to end at 17,915.
From the Sensex pack, Bajaj Finance and
Bajaj Finserv were the top gainers, rising about 2%. Infosys, Bharti Airtel,
Kotak Bank, L&T and M&M also closed higher. Meanwhile, HUL, Power Grid,
Axis Bank, SBI, TCS and Asian Paints closed in the red.
Raymond closed 6.5% higher as Godrej
Consumer Products (GCP) is in advanced talks for a deal for its consumer care
business. L&T Technology Services ended 8% higher after its March quarter
results.
Sector-wise, Nifty Realty rose 1.53%, and
Nifty IT gained 1.07%. Banks, financial, auto, media, metal, pharma,
healthcare, consumer durables and oil & gas sectors also closed higher. In
the broader market, Nifty Midcap 100 rose 0.56% and Smallcap 100 surged 0.80%.
Meanwhile, the market capitalisation of all
listed companies on BSE increased by Rs 1.34 lakh crore to Rs 269.08 lakh
crore.
Global Markets –
Rupee Weakens – The Indian rupee weakened against the US currency on
Thursday, giving up gains from dollar inflows amid mixed Asian peers. The rupee
finished at 81.8375 per dollar compared with 81.7650 in the previous session.
Crude oil rises – Oil prices edged higher on Thursday after a price drop the
previous day reversed the supportive impact of a surprise OPEC production cut
announced this month. Brent crude was trading at $77.99 a barrel, up 30 cents,
or 0.39%, while US West Texas Intermediate crude rose 22 cents or 0.3% to trade
at $74.52.
Nifty
futures opened at 17791.00 points against the previous close of 17781.90 and
opened at a low of 17791.00 points. Nifty Future closed with an average
movement of 129.05 points and a rise of around 93.20 points and 17908.10
points…!!
On
the NSE, the midcap 100 index will rise 0.56% and small cap 100 index is
closing up 0.80%.
At
the start of intra-day trading, JUNE gold opened at Rs.60150 fell from a high
of Rs.60260 points to a low of Rs.60070 with a rise of 263 points, a trend of
around Rs.60156 and MAY Silver opened at Rs.74213, fell from a high of Rs.74539
points to a low of Rs.74076 with a rise of 399 points, a trend of around Rs.74218.
Meanwhile, Equity markets in Europe were trading in the
positive territory. The US markets
had ended mostly lower
on Wednesday. The domestic market is gradually shifting towards a positive
terrain, supported by FIIs inflows and positive Q4 earnings from banks. On the
global front, the US Q1 GDP number which will be unveiled today is anticipated
to moderate on a QoQ basis amid concerns over banking contagion and a slowing
economy. the US consumer confidence data for April hit a nine-month low ahead
of the upcoming Fed policy meeting.
Technically, the important key
resistances are placed in Nifty future are at 17808 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 18088 – 18188 levels. Immediate support is placed at 17878 – 17808 levels.
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