Dear
Trader…
Amid mixed cues from US and Asian markets,
the 30-share BSE benchmark Sensex ended 194 points lower to settle at 62,428,
dragged by banking and financial stocks. The broader NSE Nifty dropped 46
points to end at 18,570.
From the Sensex pack, Bharti Airtel, and
Kotak Mahindra Bank were the top laggards, falling over 3% each. ICICI Bank,
ITC, HDFC Bank, UltraTech Cement and HCL Tech also ended in the red. On the
flip side, Tata Motors, Asian Paints, HUL, Sun Pharma, Nestle, and TCS ended
with gains.
Sector-wise, Nifty Bank declined 0.77% and
Nifty Financial Services fell 0.63%. Whereas, auto, IT, media, pharma, realty,
health care and consumer durables sectors closed higher.
The market breadth was skewed in the favour
of the bulls. About 2,077 stocks gained, 1,460 declined, and 124 remained
unchanged on the BSE.
Global Markets –
Asian shares rose on Thursday amid receding
bets for a US rate hike this month and relief over the passage through the US
House of Representatives of a bill to suspend the federal debt ceiling. Japan’s
benchmark Nikkei 225 rose 0.8%, while South Korea’s Kospi quickly lost early
gains to dip 0.3%. The Shanghai Composite slipped less than 0.1%.
European stocks rose today in early trade
as investors awaited regional inflation data for clues on how much longer the
European Central Bank will hike interest rates, with hopes that the US will
avoid a debt default aiding the sentiment. The pan-European STOXX 600 index
rose 0.75% after closing at a two-month low in the previous session.
Rupee Strengthens – The Indian rupee saw its
best single-day gain in two months on Thursday, and also rose to a two-week
high during the session, following strong domestic growth data, which prompted
traders to square off long dollar positions.The rupee closed at 82.405
against the US dollar, compared to 82.7225 on Wednesday, after touching 82.3675
during the session — its highest since May 18. On Thursday, the rupee rose
0.38%, to mark its best day since April 5.
Crude oil price – Oil steadied today as
a potential pause in US interest rate hikes and the passing of a crucial vote
on the US debt ceiling bill were offset by a report of rising inventories in
the world’s biggest oil consumer. Brent crude futures rose 2 cents to $72.62 a
barrel, while US West Texas Intermediate crude (WTI) gained 3 cents to $68.12.
Both benchmarks fell on Tuesday and Wednesday.
Nifty
futures opened at 18624.95 points
against the previous close of 18629.55 and opened at a low of 18550.00 points. Nifty Future closed with an average movement of 109.00 points and a rise of
around 83.45 points
and 18570.00
points…!!
On
the NSE, the midcap 100 index will up 0.15% and small cap 100 index is closing up 1.02%.
At
the start of intra-day trading, JUNE gold opened at Rs.60057 fell from a high of Rs.60057 points to a low of Rs.59700 with a decline of 463 points,
a trend of around Rs.59700 and JULY Silver opened at Rs.71857, fell from a high
of Rs.71999
points to a low of Rs.71181 with
a decline of 445 points, a trend of around Rs.71647.
Meanwhile,
Today the market
closed with a marginal negative bias in which banks witnessed heavy profit
booking. Investors turned cautious in anticipation of inflationary pressure in
the US after raising the US debt ceiling, The US 10-year bond yield
inched higher; the market is looking ahead to the trajectory of US interest
rates to get more visibility.
Technically, the
important key resistances are placed in Nifty future are at 18570 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 18606 – 18737 levels. Immediate support is placed at 18474 –
18303 levels.
Note :-
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