Dear
Trader…
The 30-share BSE benchmark Sensex advanced
418 points or 0.67% to settle at 63,143. The broader NSE Nifty surged 114
points or 0.62% to end at 18,716.
From the Sensex pack, ITC, Titan, Asian
Paints, Bajaj Finserv, Tata Steel, and Reliance closed higher, while Kotak Mahindra
Bank, HCL Tech, M&M, Bharti Airtel, SBI, and Maruti closed with cuts.
The market capitalisation of all listed
companies on BSE surged by Rs 2.09 lakh crore to Rs 290.01 lakh crore. The
market breadth was skewed in favour of bulls. About 2,121 stocks gained, 1,465
declined, and 136 remained unchanged on the BSE.
From the Sensex pack, ITC, Titan, Asian
Paints, Bajaj Finserv, Tata Steel, and Reliance closed higher, while Kotak
Mahindra Bank, HCL Tech, M&M, Bharti Airtel, SBI, and Maruti closed with
cuts.
Among individual stocks, Inox Wind Energy
closed 14% higher after its board approved a merger with its parent company
Inox Wind. Paint stocks such as Berger Paint, Kansai Nerolac, and Asian Paints
also closed higher after crude oil prices fell around $3 a barrel on Monday.
Sector-wise, Nifty Realty advanced 3.01%
and Nifty FMCG rose 1.38%. Banks, financials, IT, media, metal, pharma,
healthcare, and consumer durables sectors also closed higher. In the broader
market, Nifty Midcap100 gained 1.22%, and Smallcap100 surged 0.70%.
Global Markets –
Global stock markets and Wall Street
futures rose Tuesday ahead of a US inflation update and a Federal Reserve
decision on another possible interest rate hike. In early trading, the FTSE 100
in London rose 0.1% and the CAC 40 in Paris advanced 0.6%. The DAX in Frankfurt
gained 0.4%. In Asia, Shanghai, Tokyo and Hong Kong advanced.
On Tuesday, the S&P 500 future was up
0.3%. That for the Dow Jones Industrial Average gained less than 0.1%.
Rupee climbs –The rupee closed near a two-week high on
Tuesday as the dollar fell ahead of US inflation data and the Federal Reserve’s
rate decision. The rupee hit a peak of 82.3650 to the dollar, its highest since
June 2, before ending at 82.3675, compared with 82.43 in the previous session.
It closed higher for a third consecutive session.
Oil prices rise – Oil prices ticked up on
Tuesday on apparent bargain hunting, recovering some ground from the previous
day’s plunge. Brent crude futures climbed 80 cents, or 1.1%, to $72.64 a
barrel. US West Texas Intermediate (WTI) crude was at $67.64 a barrel, up 52
cents, or 0.8%.
Nifty
futures opened at 18735.35 points against the previous close of 18683.00 and
opened at a low of 18721.00 points. Nifty Future closed with an average
movement of 62.00 points and a rise of around 93.85 points and 18776.85
points…!!
On the
NSE, the midcap 100 index will down 1.22% and small cap100 index is closing down
0.70%.
At the
start of intra-day trading August gold opened at Rs.59755 fell from a high of
Rs.59885 points to a low of Rs.59430 with a rise of 122 points, a trend of
around Rs.59763 and JULY Silver opened at Rs.73298, fell from a high of Rs.73890
points to a low of Rs.72935 with a rise of 197 points, a trend of around Rs.73171.
Meanwhile,
Sustained flow of
better-than-expected domestic macro-economic data kept the market mood afloat,
with the Nifty midcap trading to all-time highs. The domestic CPI data
moderated closer to the RBI’s target due to tone-down in food inflation and a
favourable base, which increased the likelihood of a rate cut by the end of the
year, Attention now turns to the release of US inflation data and the upcoming
FOMC announcement, where the view is optimistic on keeping rates on hold.
Technically, the
important key resistances are placed in Nifty future are at 18776 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 18808 – 18880 levels. Immediate support is placed at 18676 –
18606 levels.
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