Dear Trader…
The 30-share S&P
BSE Sensex rose 339 points or 0.52% to end at an all-time closing high of
65,785, driven by unabated foreign fund inflows and buying in index major
Reliance Industries. The broader NSE Nifty advanced 99 points or 0.51% to hit a
fresh peak of 19,497.
From the Sensex pack,
M&M and Power Grid were the top gainers, rising 5% and 4%, respectively.
Tata Motors, Reliance, NTPC, Axis Bank, Nestle, Asian Paints, and Wipro also
closed with gains. On the other hand, Maruti, HCL Tech, Bajaj Finance, IndusInd
Bank, and Tata Steel closed with losses.
Secrtor-wise, Nifty
Auto closed 1.12% higher after touching a new 52-week high of 15,471, led by
M&M, Tata Motors, and Bosch. While Nifty Realty rose 2.25, Nifty Healthcare
surged 1.19%, and Nifty Oil & Gas advanced 1.89%. In the broader market,
Nifty Midcap100 gained 0.97%, and Smallcap100 rose 0.80%.
Meanwhile, the market
capitalisation of all listed companies on BSE rose by Rs 1.8 lakh crore to Rs
301.7 lakh crore. The market breadth was skewed in favour of the bulls. About
2,051 stocks gained, 1,398 declined, and 147 remained unchanged on the BSE.
Global Markets –
World stocks fell for a third straight day
on Thursday, after Federal Reserve meeting minutes bolstered bets on another US
rate hike this month. Tit-for-tat trade salvos between China and the United
States also dampened sentiment.
The Hang Seng index in Hong Kong, where
many of the big Chinese firms are listed, tumbled more than 3% overnight and
Japan’s Nikkei fell 1.6%, having recently hit a 33-year high.
Nifty
futures opened at 19441.00 points against the previous close of 19466.85 and
opened at a low of 19435.10 points. Nifty Future closed with an average
movement of 120.00 points and a rise of around 69.25 points and 19536.10
points…!!
On the NSE,
the midcap 100 index will rise 0.97% and small cap100 index is closing rise 0.80%.
At the
start of intra-day trading August gold opened at Rs.58683 fell from a high of
Rs.58650 points to a low of Rs.58135 with a rise of 251 points, a trend of
around Rs.58222 and JULY Silver opened at Rs.71357, fell from a high of Rs.71661
points to a low of Rs.70258 with a rise of 954 points, a trend of around Rs.70403.
Meanwhile, Foreign investors continue to provide
unwavering support to the domestic market, helping to sustain the ongoing rally
despite weak global cues. India’s underperformance during the year is expected
to reverse moving ahead, The mid- and small-cap segments have
outperformed the benchmark index, with realty, oil & gas, power and
consumption stocks leading the sectorial rally as provisional & economic
data suggest a good Q1FY24 results. However, global markets are displaying a
negative trend.
Technically, the
important key resistances are placed in july Nifty future are at 19536 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 19676 – 19707 levels. Immediate support is placed at 19474 –
19373 levels.
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