Dear Trader –
The 30-share BSE benchmark Sensex recovered
around 475 points from the day’s low to end 307 points or 0.47% higher at
65,982. The broader NSE Nifty rose 111.70 points or 0.57% to end at 19,835.
Tata Consultancy Services added as much as
2.93% and was the top Sensex gainer. The country’s top software company has
fixed a record date as November 25 for its Rs 17,000-crore share buyback plan.
HCL Tech, Tech Mahindra, and Infosys also
closed over 2% higher. Besides IT stocks, Bajaj Finance, NTPC, M&M, and
Bajaj Finserv ended with gains from the Sensex pack.
Global Markets –
Asian shares have retreated after Wall
Street added a bit more to its big rally from a day before, while US futures
were lower.Hong Kong’s Hang Seng lost 1.4% to 17,832 and the Shanghai
Composite index was down 0.7% at 3,050. In other Asian trading, Tokyo’s Nikkei
225 shed 0.3% to 33,424, while and the Kospi in Seoul edged 0.1% higher, to
2,488.The pan-European STOXX 600 fell 0.2% lower after gaining 2.5% over
the past three days and scaling a more than one-month high on Wednesda .
Oil Impact – Oil prices fell on
Thursday, extending losses from the previous session, as signals of higher
supply from the US met worries about lackluster energy demand from China.Brent
futures were down 29 cents at $80.87 a barrel. US West Texas Intermediate crude
(WTI) shed 13 cents to $76.53 a barrel. Both benchmarks fell more than 1.5% in
the prior session.Also, the Government of India has cut the windfall tax
on crude oil to Rs 6,300 a tonne from Rs 9,800 a tonne while cutting the diesel
windfall tax to Re 1 per litre from Rs 2 per litre, according to a government
notification.
Rupee Ends Lower – The rupee closed lower
on Thursday, weighed down by a recovery in US Treasury yields and the dollar,
which clawed back some lost ground supported by stronger-than-expected US
retail sales data.The rupee closed at 83.2325 against the US dollar,
lower by 0.11% compared with its previous close at 83.1425.The 10-year
US Treasury yield was last quoted at 4.50%, while the dollar index was higher
at 104.42, well above the week’s low of 103.98 hit on Tuesday.
Nifty
futures opened at 19738.00 points against the previous close of 19723.30 and
opened at a low of 19695.85 points. Nifty Future closed with an average
movement of 238.15 points and a rise of around 111.70 and 19835.00 points…!!
At the
start of intra-day trading December gold opened at Rs.60148.00 fell from a high
of Rs.60315.00 points to a low of Rs.60110.00 with a rise of 56 points, a trend
of around Rs.60167 and December Silver opened at Rs.72174, fell from a high of
Rs.72942 points to a low of Rs.72002 with a decline of 323.00 points, a trend
of around Rs.72695.
Meanwhile, The Indian market continued its positive
resurgence, tracking global gains. Softer-than-expected US inflation data and
easing bond yields have bought optimism that spending will emerge like in
technology. The market is sensing that exports-based sectors like IT and Pharma
could be future winners.While cut in inflation will also benefit domestic
placed staples and consumer sector.
Technically, the
important key resistances are placed in October Nifty future are at 19835 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 19808 –
19676 levels.
Note :-
Before Act please refer & agree Terms & conditions, Disclaimer, privacy
policy & agreement on www.nikhilbhatt.in
