Dear Trader…
Indices were also
dragged down by the heavyweight Reliance Industries, HDFC Bank and Jio
Financial Services, which overpowered the rise in IT stocks.The Nifty future
index settled 0.21% lower at 19,390, while the S&P BSE Sensex fell 181
points or 0.28% to settle at 65,252.
A proud moment for India as the
Chandrayaan-3 soft landed on the moon, which also saw the companies that
contributed to the mission saw a surge in the stock prices on Thursday.
From the Sensex pack,
Jio Financial Services and Reliance Industries were the top laggards. Power
Grid, L&T, JSW Steel, HCL tech and NTPC also closed lower. While IndusInd
Bank, Infosys, UltraTech Cement, ICICI Bank, Nestle, and Axis Bank closed
higher.
Jio Financial Services
hit the 5% lower circuit for the fourth session in a row since listing on
Monday. About 1731 stocks gained, 1890 declined, and 159 remained unchanged on
the BSE.
Global Markets –
The US market
exhibited a positive trend as declining US PMI ignited hopes of a prolonged
rate pause, calming US bond yields. Optimism in the domestic market was more
visible in the IT sector, though sentiments were reversed in other major
sectors, likely influenced by the prevailing global uncertainties. Despite
this, mid- and small-cap stocks demonstrated resilience, and the decline in
bond yields facilitated a resurgence in foreign investor buying momentum.
Nifty futures opened at 19500.00 points against the previous close
of 19430.90 and opened at a low of 19376.00 points. Nifty Future closed with an
average movement of 199.00 points and a decline of around 40.90 points and 19390
points…!!
On the
NSE, the midcap 100 index will rise 0.24% and small cap100 index is rise 0.35%.
At the
start of intra-day trading August gold opened at Rs.58800 fell from a high of
Rs.58868 points to a low of Rs.58662 with a decline of 79 points, a trend of
around Rs.58740 and September Silver opened at Rs.73849, fell from a high of Rs.73900
points to a low of Rs.73415 with a decline of 440 points, a trend of around Rs.73564.
Meanwhile, Global markets have restrained from making
significant moves as they await the outcome of the central bankers’ gathering
at Jackson Hole scheduled for Friday.
It can also be seen
in the markets of developing nations including India in the coming days. Funds
to lighten investment in risky assets, investors’ attitude,Indian stock markets
are currently overbought, foreign portfolio investors stop buying and local
funds, institutional investors sell off, there may be a big correction in the
market. So it is advisable to be careful and be very selective in the stocks.
Technically, the
important key resistances are placed in August Nifty future are at 19390
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 19404 – 19505 levels. Immediate support is placed
at 19303 – 19232 levels.
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