Dear Trader…
The 30-share BSE benchmark Sensex surged 232
points or 0.35% to settle at 65,953, helped also by financial and auto stocks.
The broader NSE Nifty rose 84.80 points or 0.43% to end at 19,661. Broader
indexes mirrored their larger peers, with the more domestic-focused midcaps and
smallcaps adding 0.51% and 0.22%, respectively.
The market capitalisation of all listed companies
on BSE surged by Rs 1.22 lakh crore to Rs 305.38 lakh crore. The market breadth
was skewed in favour of the bulls. About 2,026 stocks gained, 1,663 declined,
and 198 remained unchanged on the BSE.
Among Sensex stocks, M&M and Sun Pharma were
the top gainers, rising 4.2% and 2%, respectively. Bajaj Finserv, TCS, Infosys,
HUL, JSW Steel, Wipro, and Maruti also closed higher. On the other hand, SBI,
Tata Motors, Axis Bank, Bajaj Finance and Kotak Bank ended lower.
Broader indices mirrored their larger peers, with
the more domestic-focused midcaps and smallcaps adding 0.51% and 0.22%,
respectively. Nine of the 13 major sectoral indices logged gains, with the
pharma index jumping 1.56% to a record high.
Global Markets –
World shares traded cautiously on Monday after a
mixed US jobs report triggered a rally in beaten-down bonds, but new hurdles
lay ahead in the shape of US and Chinese inflation figures due later this week.
European shares opened largely flat, except for
UK stock markets which opened lower, weighed down by heavyweight miners, while
shares of Unite Group fell to the bottom of the index after a rating downgrade.
Crude oil – Oil prices hovered near their highest levels since mid-April
after top producers Saudi Arabia and Russia pledged to extend supply cuts
through September, further tightening supplies.Prices have seen a sustained
rally, with both key benchmarks notching up their sixth consecutive weekly
gains last week. On Monday, Brent crude futures slipped 92 cents to $85.33 a
barrel, while US West Texas Intermediate crude was at $81.83 a barrel, down 97 pcents.
Rupee rises – The Indian rupee strengthened on Monday, snapping a four-day
losing streak, but continued to trade in a narrow range due to demand from
importers and rising concerns about elevated crude oil prices.The rupee ended
at 82.74 per dollar, gaining 0.12% on the day. The local currency had ended at
82.84 on Friday.
Nifty futures opened at 19600.00 points against the previous close
of 19576.25 and opened at a low of 19577.00 points. Nifty Future closed with an
average movement of 107.05 points and a rise of around 84.80 points and 19661.05
points…!!
On the
NSE, the midcap 100 index will rise 0.51% and small cap100 index is rise 0.22%.
At the
start of intra-day trading August gold opened at Rs.59550 fell from a high of
Rs.59567 points to a low of Rs.59380 with a decline of 84 points, a trend of
around Rs.59443 and September Silver opened at Rs.72280, fell from a high of Rs.72300
points to a low of Rs.71830 with a decline of 490 points, a trend of around Rs.71988.
Meanwhile, Global markets portrayed a mixed picture,
with US futures exhibiting positivity in response to a moderation in bond
yields, while European markets experienced declines due to weak economic data.
Caution prevailed in the market due to the anticipation of upcoming inflation
data and the RBI’s monetary policy.The Indian market began the data-heavy week
with modest gains, primarily propelled by strong performances in the pharma and
IT sectors
Technically, the
important key resistances are placed in August Nifty future are at 19661 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 19707 – 19808 levels. Immediate support is placed at 19606 –
19574 levels.
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