Dear Trader…
Indian equity closed
marginally higher on Tuesday, marking its second straight session of rise,
ahead of key macro data from the US that will indicate whether the Federal
Reserve will take a rate-hike breather in September.
The S&P BSE
benchmark Sensex rose 79 points or 0.12% to settle at 65,076 as an uptick in
metal and realty stocks offset a slump in consumer firms on inflation concerns
due to weak monsoon rainfall. The NSE Nifty future surged 24.45 points or 0.13%
to end at 19,345.
From the Sensex pack,
Jio Financial, Tata Steel, Tech Mahindra, NTPC, and Power Grid closed higher.
On the flip side, Bharti Airtel, HUL, Axis Bank, and Reliance Industries closed
with losses.
The market
capitalisation of all listed companies on BSE surged Rs 1.08 lakh crore to Rs
309.01 lakh crore. The market breadth was skewed in favour of the bulls. About 2001
stocks gained, 1595 declined, and 152 remained unchanged on the BSE.
Global Markets –
Asian shares mostly rose
on Tuesday as markets shifted their attention from the US Federal Reserve to
earnings and economic reports. Japan’s benchmark Nikkei 225 edged up 0.4% in
afternoon trading, while the Shanghai Composite gained 1.1%. European shares
hit two-week highs on Tuesday as mining stocks led gains tracking strength in
metal prices and NN Group jumped after reporting first-half results.The
pan-European STOXX 600 gained as much as 0.6%.
Crude Impact – Oil prices were little changed as investors weighed the
enduring possibility of another US interest rate hike undercutting demand
against supply concerns emanating from a hurricane hurtling towards the US Gulf
Coast. Brent crude edged 61 cents higher at $84.48 a barrel, while US West
Texas Intermediate crude ticked up 62 cents to $80.72 a barrel.
Rupee Weakens – The Indian rupee closed lower as dollar buying by oil
companies and large importers pressured the local unit during the session,
wiping out early gains. The rupee closed at 82.7050, compared to its previous
close of 82.63. The currency also underperformed its Asian peers, most of which
strengthened, with the Thai baht and Indonesian rupiah leading gains.
Nifty futures opened at 19351.20 points against the previous close
of 19321.20 and opened at a low of 19306.00 points. Nifty Future closed with an
average movement of 60.95 points and a decline of around 24.45 points and 19345.75
points…!!
On the
NSE, the midcap 100 index will rise 0.34% and small cap100 index is rise 0.69%.
At the
start of intra-day trading August gold opened at Rs.58949 fell from a high of
Rs.59025 points to a low of Rs.58881 with a decline of 12 points, a trend of
around Rs.58899 and September Silver opened at Rs.73700, fell from a high of Rs.73840
points to a low of Rs.73519 with a decline of 55 points, a trend of around Rs.73557.
Meanwhile,The buoyancy of the global market in
anticipation of no further Fed rate hikes, due to subdued economic data, was
noticeable in the Indian market as well. However, heavyweight stocks were muted
compared to the sector-wise and mid & small-cap upsides.
The benefits from festival demand were
evident in sectors such as consumer durables, manufacturing, power, and real
estate.
Technically, the
important key resistances are placed in August Nifty future are at 19345
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 19373 – 19474 levels. Immediate support is placed
at 19272 – 19180 levels.
Note :- Before Act please refer & agree Terms
& conditions, Disclaimer, privacy policy & agreement on www.nikhilbhatt.in
