Dear Trader –
The BSE benchmark Sensex advanced 261 points or
0.39% to settle at 66,428.The NSE Nifty rose 69 points or 0.35% to close at
19,809.From the Sensex pack, Power Grid, Kotak Bank, Tech Mahindra, and
Bajaj Finserv were the top gainers, rising 1-2%. While Tata Motors, L&T,
IndusInd Bank and TCS closed in the red.
On the sectoral front, Nifty Financial Services
rose 0.65%, and Nifty surged 0.5%. Banks, IT, media, metal, pharma and oil
& gas also closed higher. In the broader market, Nifty Midcap100 rose
0.35%, while Smallcap100 gained 0.88%.
The market breadth was skewed in the favour of
the bulls. About 2,159 stocks gained, 1,544 declined, and 122 remained
unchanged on the BSE. Meanwhile,the market capitalisation of all listed
companies on BSE increased by Rs 1.55 lakh crore to Rs 323.80 lakh crore.
Global Markets –
Asian shares advanced on Tuesday after US stocks
rallied as investors unwound some of last week’s moves driven by worries about
war in the Middle East.Oil prices slipped and US futures also edged lower.
Tokyo’s Nikkei 225 was up 1% at 31,988 and the
Hang Seng in Hong Kong added 0.7% to 17,763.European stocks were flat on
Tuesday. The pan-European STOXX 600 index was almost unchanged at 449.52 points
after a modest rise in the previous session.
Oil Rises – Oil prices steadied
on Tuesday after sliding more than $1 on Monday amid hopes the US would ease
sanctions on producer Venezuela and as Washington stepped up efforts to prevent
an escalation of the war between Israel and Hamas.Brent crude futures
were up 22 cents at $89.88 a barrel, while US West Texas Intermediate crude
(WTI) was up 13 cents at $85.38 a barrel.
Currency Watch – The Indian rupee
ended little changed on Tuesday as traders continued to look for triggers that
could help the local unit break out of the narrow range in which it has traded
in recent sessions.The rupee closed at 83.2575 against the US dollar
compared to its close of 83.2775 in the previous session. The dollar index rose
slightly to 106.31.
Nifty futures opened at 19834.00 points against the previous close
of 19740.40 and opened at a low of 19764.95 points. Nifty Future closed with an
average movement of 68.60 points and a rise of around 0.35 and 19809.00 points…!!
At the start of intra-day trading December gold opened at Rs.59166
fell from a high of Rs.59390 points to a low of Rs.59000 with a rise of 199 points,
a trend of around Rs.59365 and December Silver opened at Rs.70600, fell from a
high of Rs.71452 points to a low of Rs.70600 with a rise of 373 points, a trend
of around Rs.71410.
Meanwhile,
The market’s gap-up opening on Tuesday,
offsetting the losses of the past three days, indicates an optimism over the
ongoing Q2 earnings despite concerns about the Middle East and subdued start by
the IT sector.
The upward trend was broad-based with particular
upside in banking, oil & gas and FMCG sectors. However, some profit-taking
was evident as the day concluded.
Technically,
the important key resistances are placed in October Nifty future are at 19809 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 – 19939 levels. Immediate support is placed at 19676 –
19606 levels.
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