Dear Trader –
The 30-share BSE
benchmark Sensex declined 143 points or 0.22% to end at 64,832. The broader NSE
Nifty dropped 14.85 points or 0.08% to settle at 19,476.
From the Sensex pack,
HUL, Tech Mahindra, Infosys, Reliance Industries, and Bajaj Finance ended in
the red, while M&M, Power Grid, IndusInd Bank, and Tata Motors closed
higher.
From the sectoral front, Nifty Realty advanced 1.2%,
and Nifty Auto rose 0.8%. On the other hand, Nifty Financial Services, FMCG,
IT, Media, Metal, and Oil & Gas closed in the red. In the broader market,
Nifty Midcap100 gained 0.22%, while Smallcap100 fell 0.24%.
The market breadth was
skewed in the favour of the bears. About 1,655 stocks gained, 2050 declined,
and 122 remained unchanged on the BSE.
Global Markets –
Asian share markets
rallied on Thursday and the dollar firmed, even as global investors again sold
off the troubled mainland Chinese property sector.
Japan’s Nikkei stock
index rose 1.53%. Hong Kong’s Hang Seng Index reversed an early gain and was
down 0.25% in the afternoon while China’s bluechip CSI300 Index was 0.1% higher.
European shares rose
on Thursday, boosted by AstraZeneca and Adyen on strong earnings, while markets
awaited the Federal Reserve Chair’s remarks on the monetary policy outlook
after European Central Bank officials played down market bets around rate cuts.
The pan-European STOXX 600 was up 0.2% after touching a three-week high
intraday in the prior session.
Oil Prices Rise – Oil prices edged up on Thursday as markets shrugged off
deflationary indicators in China and looked for further clues on the status of
demand from the world’s two biggest oil consumers. Brent crude futures rose 79
cents, or 1%, to $80.33 a barrel by 4:10 pm. US WTI crude futures were up 70
cents, or 0.92%, at $76.03 a barrel.
Rupee Ends Flat – The Indian rupee traded in a narrow band and closed
little-changed on Thursday as likely intervention from the Reserve Bank of
India limited losses in the currency.The rupee ended at 83.28 against the US
dollar, compared with its close at 83.2725 in the previous session. It remained
in a tight range between 83.26 and 83.29 during the day’s session.
Nifty futures opened at 19503.60 points against the previous close
of 19490.85 and opened at a low of 19471.10 points. Nifty Future closed with an
average movement of 55.30 points and a rise of around 14.85 and 19476.00 points…!!
At the start of intra-day trading December gold opened at Rs.59903
fell from a high of Rs.59942 points to a low of Rs.59760 with a decline of 143 points,
a trend of around Rs.59866 and December Silver opened at Rs.70450, fell from a
high of Rs.70620 points to a low of Rs.70205 with a decline of 542 points, a
trend of around Rs.70508.
Meanwhile, Cues from the Fed
Chair’s speech have reduced the likelihood of a rate hike in the near term,
leading to an ease in US treasury yields and calming the market. FIIs selling
has moderated but inflows continue to be muted on concerns of an elevated
interest rate and a global slowdown.
Technically,
the important key resistances are placed in October Nifty future are at 19476 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 19505 – 19575 levels. Immediate support is placed at 19373 –
19303 levels.
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