Dear Trader –
The BSE Sensex gained
333 points or 0.50% to end at 66,599, while Nifty50 rose 93 points or 0.47% to
closed at 19,820 in Friday’s trade.
This week, the 30-share benchmark index advanced
1,211 points or 1.85% to settle at 66,599. The broader NSE Nifty Futures rose 106
points or 0.53% and ended at 19,874. It was their best week in over two months.
Meanwhile, the market
capitalisation of all listed companies on BSE surged by Rs 8.5 lakh crore to Rs
320.9 lakh crore this week.
From the Sensex pack,
NTPC, Tata Motors, and L&T were the top gainers, rising 2-3%. Bajaj
Finserv, Bharti Airtel, HDFC Bank, and Titan also closed with gains. On the
other hand, ITC, UltraTech Cement, Tech Mahindra, and Wipro closed with cuts.
The smallcap and
midcap stocks extended their record run on Friday and were up 0.6% and 0.95%,
respectively. Sector-wise, Nifty Realty rose 2.12%, Nifty Financial gained
0.89%, and Nifty Auto surged 0.67%.
The market breadth was
skewed in the favour of the bulls. About 1,983 stocks gained, 1,711 declined,
and 126 remained unchanged on the BSE.
Global Markets –
Global shares steadied
on Friday as the dollar headed for its longest winning streak since 2014 on the
back of a buoyant US economy, with investors expecting central banks to stand
pat on rates over the coming two weeks.
Tokyo’s Nikkei 225
index dropped 1.2%, while the Kospi in Seoul lost less than 1 point, to 2,547.
Hong Kong’s markets were closed due to a tropical storm.
In Europe, the STOXX
index of 600 companies was down 0.3%. S&P 500 futures were little changed.
Oil Rises – Oil prices rose on Friday, as investors weighed fears
about the health of China’s economy against supply cuts from major producers
Saudi Arabia and Russia.Brent crude futures rose 56 cents to $90.48 a barrel,
while US West Texas Intermediate crude (WTI) futures gained 46 cents to $87.33.
Rupee Ends Stronger – The Indian rupee gained on Friday on likely help from
the Reserve Bank of India (RBI) but registered a weekly decline for the second
consecutive week as strength in the US dollar and elevated crude prices weighed
on the local unit.The rupee closed at 82.9450 against the US dollar compared
with 83.21 in the previous session. Despite the strength on Friday, the rupee
posted a weekly decline of 0.27%.
Nifty futures opened at 19800.00 points against the previous close
of 19768.70 and opened at a low of 19772.30 points. Nifty Future closed with an
average movement of 144 points and a decline of around 104 points and 19874.00 points…!!
On the
NSE, the midcap 100 index will rise 0.95% and small cap100 index is rise 0.61%.
At the
start of intra-day trading October gold opened at Rs.59146 fell from a high of
Rs.59205 points to a low of Rs.59003 with a decline of 20 points, a trend of
around Rs.59018 and October Silver opened at Rs.71915, fell from a high of Rs.72335
points to a low of Rs.71731 with a decline of 29 points, a trend of around Rs.71741.
Meanwhile, The domestic market showcased its
resilience once more by rallying, seemingly unfazed by global distress signals.
Although selling was seen in IT and pharma stocks due to weak global cues, the
gains in infra, industrial, and capital goods stocks due to improved order
inflows coupled with the persistent preference for mid and smallcap stocks
contributed to the ongoing rally.
Technically, the important
key resistances are placed in August Nifty future are at 19874 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 19909 – 20008 levels. Immediate support is placed at 19676
– 19606 levels.
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