Dear
Trader…
Gains from financials and sustained foreign
inflows and largely bullish investor sentiments helped offset a bout of
profit-taking making the 30-share S&P BSE Sensex rally for the fifth
straight session and rise 274 points or 0.42% to end at 65,479. The broader NSE
Nifty surged 66 points or 0.34% to settle at 19,389.
From the Sensex pack, Bajaj Finance closed
over 7% higher after the company’s assets under management (AUM) rose 32% to Rs
2.7 lakh crore as of June 2023 in Q1. Bajaj Finserv, Tech Mahindra, Sun Pharma,
NTPC, Titan, Wipro, TCS, and Kotak Bank also closed higher.
On the flip side, Bharti Airtel, Axis Bank,
Reliance, IndusInd Bank, Tata Steel, and UltraTech Cement settled with cuts.
Shares of Hero MotoCorp closed over 4% higher after the company and iconic
American motorcycle maker Harley-Davidson launched their co-developed premium
motorcycle – the Harley-Davidson X440 in India.
Sector-wise, Nifty PSU Bank rose 1.89%, and
Nifty IT advanced 1.04%. Nifty Financial Services and Nifty Pharma also closed
higher. In the broader market, Nifty Midcap100 dropped 0.20%, while Smallcap100
gained 0.25%.
Global Markets –
Global stocks held steady on Tuesday, as
investors balanced the inflationary force of rising oil prices with hopes that
central banks would not over-tighten monetary policy into a potential
recession.
European shares were range bound in thin
trading on Tuesday. The pan-European STOXX 600 index held steady at 462 points,
trading in a tight range as investors weighed hawkish signals from central
bankers against data pointing to slowing global growth.
Rupee ends lower – The rupee ended slightly
lower against the US currency on Tuesday, underperforming Asian peers, weighed
down by dollar demand from importers. The rupee ended at 82.02 per dollar,
compared to its close of 81.9575 in the previous session.
Oil prices rise – Oil
prices ticked higher on Tuesday as markets weighed supply cuts for August by
top exporters Saudi Arabia and Russia against a weak global economic outlook.
Brent crude futures were up 85 cents, or 1.1%, to $75.50 a barrel. US West
Texas Intermediate crude was at $70.61 a barrel, up 82 cents, or 1.2%.
Nifty
futures opened at 19421.00 points against the previous close of 19404.95 and
opened at a low of 19376.30 points. Nifty Future closed with an average
movement of 123.70 points and a rise of around 53.45 points and 19458.40 points…!!
On the
NSE, the midcap 100 index will decline 0.20% and small cap100 index is closing rise
0.25%.
At the
start of intra-day trading August gold opened at Rs.58275 fell from a high of
Rs.58545 points to a low of Rs.58265 with a rise of 165 points, a trend of
around Rs.58442 and JULY Silver opened at Rs.69301, fell from a high of Rs.69760
points to a low of Rs.69190 with a rise of 388 points, a trend of around Rs.69700.
Meanwhile,The market is maintaining its optimism;
however, a profit-booking tendency is visible at the upper band as the recent
rally has raised the market to the historic new high range, The momentum of the
market has shifted from the frontlines of this year to the laggards like IT,
commodities, and PSBs. The market is taking a breather ahead of the upcoming Q1
results. Pharma and banking displayed a positive trend, while the auto sector
faced selling pressure following a mixed set of sales data for the month of
June.
Technically, the
important key resistances are placed in july Nifty future are at 19458 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 19474 – 19575 levels. Immediate support is placed at 19373 –
19303 levels.
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