Dear Trader –
The rally was led by the index heavyweight
Reliance Industries, HDFC Bank, and ITC. The BSE benchmark Sensex
advanced 394 points or 0.6% to settle at 66,473. The broader NSE Nifty advanced
114 points or 0.58% to end at 19,851.80
Meanwhile, the market capitalisation of all
listed companies on the BSE increased by Rs 1.9 lakh crore to Rs 321.61 lakh
crore.
From the Sensex pack, Wipro and UltraTech Cement
were the top gainers, rising 3.4% and 2.1%, respectively. Reliance Industries,
HUL, Nestle, and M&M also closed higher. On the other hand, HCL Tech, TCS,
SBI, and Infosys closed in the red.
Sector-wise, Nifty Media rose 0.86%, and Nifty
Realty surged 0.84%. Banks, auto, financial, FMCG, metal and pharma sectors
also closed higher. Whereas, Nifty Midcap100 gained 0.5% and Smallcap100
advanced 0.84%.
The market breadth was skewed in the favour of the
bulls. About 2,320 stocks gained, 1,379 declined, and 123 remained unchanged on
the BSE.
Global Markets –
Global stocks edged higher on Wednesday, with
investors cheered by Chinese stimulus hopes and a drop in bond yields, while
the dollar held steady before the release of the latest Federal Reserve meeting
minutes and US inflation figures.
Europe’s continent-wide STOXX 600 index was 0.11%
higher in early trading. In Asian markets, Japan’s Nikkei 225 gained 0.65%,
while China’s Shanghai Composite rose 0.2%, and Hong Kong’s Hang Seng surged
1.2%.
Oil Falls – Oil prices edged
lower on Wednesday, as fears of disruption to supplies due to conflict in the
Middle East receded, at least for the time being.Brent crude fell 49
cents, or 0.56%, to $87.16 a barrel. US West Texas Intermediate (WTI) crude
fell by 55 cents, or 0.64%, to $85.42.
Rupee Strengthens – The Indian rupee
closed stronger on Wednesday, tracking Asian peers. The rupee ended at 83.1875
against the US currency after closing at 83.2450 in the previous session.The
dollar index, which tracks the movement of the greenback against a basket of
six major world currencies, declined 0.01% to 105.81 level.
Nifty futures opened at 19780.00 points against the previous close
of 19738.10 and opened at a low of 19780.00 points. Nifty Future closed with an
average movement of 94.90 points and a rise of around 113.70 and 19851.80 points…!!
At the start of intra-day trading December gold opened at Rs.57619
fell from a high of Rs.57995 points to a low of Rs.57600 with a rise of 296 points,
a trend of around Rs.57925 and December Silver opened at Rs.69146, fell from a
high of Rs.69749 points to a low of Rs.68973 with a rise of 592 points, a trend
of around Rs.69510.
Meanwhile,
The market breadth was strong, as investors
believe that the Middle East skirmish will be contained within the region and
should not impact the crude price.
Amid dovish comments from the US federal reserve,
the US 10-year bond yield traded lower. Sequentially, the September India CPI
is expected to cool due to ease in food and fuel inflation. And Q2 earning
season will kick-start with the IT sector, which has a moderate expectation,
however the broad corporates are expected to provide a bumper result.
Technically,
the important key resistances are placed in October Nifty future are at 19851 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 19880 – 20008 levels. Immediate support is placed at 19737 –
19676 levels.
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