Dear Trader…
The 30-share BSE benchmark Sensex declined 256
points or 0.39% to settle at 64,831.The broader NSE Nifty Future dropped 17
points or 0.09% to end at 19428.30.
In the Sensex pack, Asian Paints, IndusInd Bank,
Axis Bank, SBI, and Bajaj Finance were the top laggards.Whereas Maruti, Titan,
UltraTech Cement and Tata Steel closed with gains.
Shares of Adani Enterprises, Adani Ports, Adani
Green, Adani Transmission, and Ambuja Cement closed over 3% lower. Barring ACC,
all other Adani stocks ended in the red. The conglomerate said it rejected the
report in its entirety. Smallcaps and midcaps outperformed the bluechips,
rising 0.81% and 0.11%, respectively, and also hit record highs.
High weightage IT index ended 0.2% higher on
easing rate concerns in the US after second-quarter GDP data indicated the
cooling of the economy.
The market breadth was skewed in the favour of
the bulls. About 1,813 stocks gained, 1,819 declined, and 136 remained
unchanged on the BSE.
Global Markets –
World shares limped towards their worst month
since February, with sentiment hurt by still-gloomy China factory readings on
Thursday, as traders awaited European and US data that could add to bets that
interest rates have peaked.
Both S&P 500 futures and Nasdaq futures were
little changed ahead of US trading later, while Asian shares saw a low-key
finish to a difficult August, especially in China’s property market which has
slumped again.
Oil Prices Rise – Global oil
prices were up on Thursday as participants increased their positions following
a firm spot demand.
Brent crude futures contract for November was up
45 cents, or 0.53%, at $85.68. US West Texas Intermediate crude futures gained
48 cents, or 0.60%, to $82.09.
Rupee Down – The Indian
rupee declined in August as rising US Treasury yields boosted demand for the
dollar, but the local unit performed better than its Asian peers on likely
intervention by the Reserve Bank of India.
The rupee ended weaker at 82.7850 per dollar on
Thursday, versus its previous close of 82.7325. For the month, the currency
recorded a decline of 0.66%.
Nifty futures opened at 19452.35 points against the previous close
of 19445.30 and opened at a low of 19388.35 points. Nifty Future closed with an
average movement of 103.65 points and a decline of around 17 points and 19428.30
points…!!
On the
NSE, the midcap 100 index will rise 0.11% and small cap100 index is rise 0.81%.
At the
start of intra-day trading August gold opened at Rs.59490 fell from a high of
Rs.59563 points to a low of Rs.59405 with a decline of 18 points, a trend of
around Rs.59460 and September Silver opened at Rs.74592, fell from a high of Rs.74615
points to a low of Rs.74155 with a decline of 144 points, a trend of around Rs.74493.
Meanwhile, slew of weak economic indicators from the
US, including a softened GDP figure, have heightened the likelihood of a pause
in the Fed’s rate tightening, resulting in a downward trajectory of bond
yields. However, this development had a limited impact on domestic sentiment on
the day of expiry, with the market experiencing declines ahead of the release
of India’s GDP data, scheduled for today.
Technically, the
important key resistances are placed in August Nifty future are at 19428
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 19474 – 19533 levels. Immediate support is placed
at 19303 – 19280 levels.
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