Dear
Trader…
The 30-share BSE benchmark Sensex fell 299
points or 0.45% to settle at 66,385. The broader NSE Nifty future declined
83.70 points or 0.42% to end at 19,692.
From the Sensex pack, ITC was the top
laggard, falling over 4% after the cigarette-to-hotels major announced that its
board has approved the demerger of the hotels business.Kotak Mahindra Bank,
Tech Mahindra, Reliance Industries, JSW Steel, and Tata Steel also closed in
the red.
On the flip side, IndusInd Bank, M&M,
Power Grid, Bajaj Finserv, UltraTech Cement, L&T, and TCS closed with
gains.Sector-wise, Nifty FMCG declined 1.72%, and Nifty Metal fell 0.73%.Nifty
Bank and Nifty Oil & Gas also closed lower. In the broader market, Nifty
Midcap100 dropped 0.15%, while Smallcap100 gained 0.37%.
The market breadth was skewed in the favour
of the bears. About 1,937 stocks declined, 1,763 gained, and 155 remained
unchanged on the BSE.
Global
Markets –
Asian shares were mixed on Monday, with
Hong Kong’s benchmark sinking 2.2% following reports suggesting China’s leaders
do not plan major stimulus measures to prop up slowing growth in the world’s
second-largest economy.
Tokyo’s Nikkei 225 index added 1.2% to 32,700,
while the Hang Seng in Hong Kong dropped more than 400 points to 18,642. The
Shanghai Composite index slipped 0.1% to 3,164. However, the pan-European STOXX
600 edged up 0.1% to hit a five-week high.
Oil Impact –Oil prices were steady on Monday as traders
expected more rate hikes from the US and European central banks, but tightening
supply and hopes for Chinese stimulus underpinned Brent at well above $80 a
barrel.Brent crude futures rose 4 cents, to $81.11 a barrel. US West Texas
Intermediate (WTI) crude was at $77.11 a barrel, also up 4 cents.
Rupee Strengthens – The Indian rupee strengthened to its highest level in three
weeks on Monday, helped by likely corporate dollar inflows, with traders now
focusing on key central bank meetings later this week for further direction.The
rupee ended at 81.8150, its strongest since July 3 to the US dollar, compared
with 81.9450 on Friday.
Nifty
futures opened at 19771.80 points against the previous close of 19776.40 and
opened at a low of 19680.00 points. Nifty Future closed with an average
movement of 128.00 points and a rise of around 83.70 points and 19692.70
points…!!
On the
NSE, the midcap 100 index will decline 0.15% and small cap100 index is rise 0.37%.
At the
start of intra-day trading August gold opened at Rs.59241 fell from a high of
Rs.59115 points to a low of Rs.59300 with a decline of 33 points, a trend of
around Rs.59276 and September Silver opened at Rs.74800, fell from a high of Rs.74875
points to a low of Rs.74431 with a decline of 192 points, a trend of around Rs.74778.
Meanwhile, Volatility has re-emerged as initial Q1
results are below the expectations. Sector-wise setbacks were experienced in IT
and FMCG, unveiling weak demand and high input costs .
Investors are also watchful of the upcoming
FOMC meeting, addressing rate hike and quantitative tightening measures, which
could have an implication on FIIs inflows.
Technically, the
important key resistances are placed in july Nifty future are at 19692 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 19808 – 19880 levels. Immediate support is placed at 19636 –
19575 levels.
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