Dear
Trader…
Tracking gains from global markets in a
strong earnings season, Nifty closed higher for the fifth straight day on
Friday to end above the 18,000 mark. Sensex ended 463 points higher, well above
the 61,100 mark. Gains were led by the banking, financial, auto and IT stocks.
The 30-share BSE benchmark Sensex advanced
1,516 points or 2.54% to settle at 61,112, while the broader NSE Nifty surged
441 points or 2.5% to end at 18,052 this week.
From the Sensex pack, Wipro, Nestle, ITC,
and L&% were the top gainers, rising over 2% each. SBI, Tech Mahindra,
Reliance, Bharti Airtel, and Kotak Bank also ended higher.
On the other hand, Axis Bank, HCL Tech,
Titan, Bajaj Finserv and Asian Paints ended with losses.
Sector-wise, Nifty PSU Bank rose 2.45% and
Nifty IT surged 1.29%. Financials, FMCG, media, metal, pharma, realty,
healthcare and oil & gas sectors also closed higher. In the broader market,
Nifty Midcap100 advanced 1.24% and Smallcap100 rose 0.83%.
Meanwhile, the market capitalisation of all
listed companies on BSE increased by Rs 2.66 lakh crore to Rs 271.71 lakh crore.
Global Markets –
Rupee Weakens – The Indian rupee weakened against the US currency on Friday,
giving up gains from dollar inflows amid mixed Asian peers. The rupee finished
at 81.8250 per dollar compared with 81.8375 in the previous session.
Crude oil rises – Oil prices edged higher on friday 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 $78.70 a barrel, up 20 cents,
or 0.33%.
Nifty
futures opened at 18030.25 points against the previous close of 17991.75 and
opened at a low of 17965.00 points. Nifty Future closed with an average
movement of 163.50 points and a rise of around 119.40 points and 18111.15
points…!!
On
the NSE, the midcap 100 index will rise 1.24 % and small cap 100 index is
closing up 0.83%.
At
the start of intra-day trading, JUNE gold opened at Rs.59853 fell from a high
of Rs.59905 points to a low of Rs.59682 with a decline of 131 points, a trend
of around Rs.59770 and MAY Silver opened at Rs.74108, fell from a high of Rs.74140
points to a low of Rs.73671 with a decline of 209 points, a trend of around Rs.73750.
Meanwhile, Despite concerns about potentially weaker
US GDP numbers and high inflation, the stronger-than-expected earnings reported
by Meta propelled IT stocks to the forefront of the Wall Street rally. The
trend was reflected in the domestic market, as beaten-down IT stocks helped to
lift broader market sentiment. However, with US inflation remaining high, the
prospect of another rate hike by the Fed is looming, keeping global markets
volatile in the coming days
Technically,
the important key resistances are placed in Nifty future are at 18111 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 18188 – 18272 levels. Immediate support is placed at 18088 –
17939 levels.
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