Dear
Trader…
With investors booking profit at near-record
high levels amid concerns of a trade conflict between the US and China, the
30-share BSE benchmark Sensex declined 33 points or 0.05% to settle at 65,446,
while the NSE Nifty50 rose 9 points or 0.05% to end at 19,398.
the market capitalisation of all listed
companies on the BSE crossed the Rs 300 lakh crore-mark for the first time
ever.Gains from auto, FMCG and IT stocks were offset by losses in banking and
financial stocks.
Among Sensex stocks, Maruti, Tech Mahindra,
IndusInd Bank, and HUL were the top gainers, rising 2-3.5%. ITC, ICICI bank,
Power Grid, Nestle and Titan also closed with gains. On the other hand, HDFC
Bank, HDFC, Bajaj Finserv, Wipro and Tata Motors ended in the red.
The market breadth was skewed in favour of
the bulls. About 1,967 stocks gained, 1,527 declined, and 132 remained
unchanged on the BSE.
Global Markets –
Global shares fell on Wednesday as fresh
signs of China’s faltering economic recovery emerged and traders awaited US
Federal Reserve minutes and a key US jobs report later in the week for clues to
the central bank’s rate outlook.
MSCI’s broadest index of Asia-Pacific
shares outside Japan dropped 0.6%. Japan’s Nikkei also fell 0.3% on
profit-taking from investors after climbing to three-decade highs. Chinese blue
chips fell 0.6% and Hong Kong’s Hang Seng index slumped 1.3%.
FOMC Minutes – The FOMC will issue
minutes from its June 13-14 meeting at 11.30 pm, while a key jobs report later
in the week will provide more clues on the central bank’s rate outlook.
Rupee Weakens –The rupee weakened
0.25% versus the dollar, and quoted at 82.22 per dollar on persistent dollar
demand from importers. The dollar index, which tracks the movement of the
greenback against a basket of six major world currencies, rose 0.06% to 103.1
level.
Oil prices decline –Oil prices eased on Wednesday, paring the previous
day’s gains as fears over a global economic slowdown denting fuel demand
outweighed expectations of tighter supply due to output cuts announced by top
exporters Saudi Arabia and Russia for August.
Nifty
futures opened at 19401.00 points against the previous close of 19458.40 and
opened at a low of 19400.00 points. Nifty Future closed with an average
movement of 87.00 points and a rise of around 8.45 points and 19466.85
points…!!
On the NSE,
the midcap 100 index will decline 0.71% and small cap100 index is closing rise 0.74%.
At the
start of intra-day trading August gold opened at Rs.58410 fell from a high of
Rs.58634 points to a low of Rs.58366 with a rise of 170 points, a trend of
around Rs.58579 and JULY Silver opened at Rs.70437, fell from a high of Rs.70690
points to a low of Rs.70151 with a rise of 267 points, a trend of around Rs.70275.
Meanwhile, Global worries along with moderation in
Service PMI data briefly impacted the domestic market’s rally. Heightened trade
tensions between the US and China, coupled with uncertainties surrounding the
upcoming release of FOMC minutes, tested the risk appetite of global investors,
However the market’s last-minute, broad-based recovery serves as a
reaffirmation of investors’ confidence in the Indian economy.
Technically, the
important key resistances are placed in july Nifty future are at 19466 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 19533 – 19606 levels. Immediate support is placed at 19373 –
19303 levels.
Note :-
Before Act please refer & agree Terms & conditions, Disclaimer, privacy
policy & agreement on www.nikhilbhatt.in
