Domestic market benchmarks the Sensex and the
Nifty snapped their six-day winning streak on strong losses in index
heavyweights including Infosys, Reliance Industries, TCS and Hindustan Unilever
(HUL) on Friday (July 21).
Following weak global cues, Sensex saw a gap-down opening.index
finally closed with a loss of 888 points, or 1.31 per cent, at 66,684.26 while
the Nifty Future ended with a loss of 193.90 points, or 1.17 per cent, at 19,776.
Mid and smallcaps substantially outperformed the benchmark
index. The index closed 0.26% lower while the Smallcap index closed with a
gain of 0.13%. The BSE Smallcap index hit its fresh all-time high of 34,198.82
during the session.
The overall market capitalisation of firms listed on BSE dropped
to about ₹302.1 lakh crore from
nearly ₹304 lakh crore, making
investors poorer by nearly ₹1.9 lakh crore in a single session.As
many as 36 stocks suffered losses in the Nifty pack while 14 stocks managed to
end higher.
Global Markets –
India’s foreign exchange reserves rose for a third straight week to total $609.02
billion as of July 14, the highest in nearly 15 months, data from the central
bank showed on Friday.They rose by $12.74 billion from the week earlier – the
biggest gain in four months – having risen by a total of $3.08 billion in the
prior two weeks.
The FIIs as per Friday’s data were net buyers in both equity and
debt segments, according to data released by the NSDL. In equity segment,
the gross buying was of Rs 12338.92 crore against gross selling of Rs 7700.05
crore. Thus, FIIs stood as net buyers of Rs 4638.87 crore in equities.In the
debt segment, the gross purchase was of Rs 1608.07 crore with gross sales of Rs
551.42 crore. Thus, FIIs stood as net buyers of Rs 1056.65 crore in debt.In the
hybrid segment, the gross buying was of Rs 3.30 crore against gross selling of
Rs 10.34 crore. Thus, FIIs stood as net sellers of Rs 7.04 crore in hybrid
segment.
Nifty futures opened at 19860.00 points against the previous close
of 19847.00 and opened at a low of 19730.00 points. Nifty Future closed with an
average movement of 169.90 points and a rise of around 193.80 points and 19776.40
points…!!
On the
NSE, the midcap 100 index will decline 0.36% and small cap100 index is rise 0.72%.
At the
start of intra-day trading August gold opened at Rs.59543 fell from a high of
Rs.59587 points to a low of Rs.59252 with a decline of 300 points, a trend of
around Rs.59252 and September Silver opened at Rs.75498, fell from a high of Rs.75639
points to a low of Rs.75034 with a decline of 384 points, a trend of around Rs.75065.
Meanwhile, All eyes will be on the US Fed and ECB
policy meeting next week. Investors would also take cues from various macro
data that would be released. With the result season picking up pace, we expect
a lot of stock-specific action and provide direction to domestic equities in
the coming week. Apart from index heavyweight Reliance, the banking sector is
also likely to be in focus as ICICI Bank and Kotak Mahindra Bank would announce
results over the weekend.
Technically, the
important key resistances are placed in july Nifty future are at 19970 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 20008 – 20108 levels. Immediate support is placed at 19880 – 19808 levels.
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