Dear Trader –
The BSE Sensex gained
92 points or 0.14% to settle at 66,023, while the NSE Nifty rose 45 points or
0.23% to end at 19,886.
From Sensex pack,
Infosys, NTPC, Power Grid, and Titan closed higher, while IndusInd Bank, Kotak
Bank, JSW Steel, M&M, and HDFC Bank ended lower.
Sector-wise, Nifty IT advanced 0.74%, led by
Persistent Systems, Infosys, and Tech Mahindra. Nifty Pharma and Nifty FMCG also
ended higher.Whereas, Nifty Bank and Nifty Financial Services fell 0.55% and
0.23%, respectively.
In the broader market,
Nifty Midcap100 gained 0.34%, while Smallcap100 fell 1.2%.The market breadth
was skewed in the favour of the bears. About 1,620 stocks gained, 2,068
declined, and 142 remained unchanged on the BSE.
Global Markets –
Shares slipped in Asia
on Wednesday, tracking a decline on Wall Street a day after stocks there hit
their highest level since the start of August. Tokyo’s Nikkei 225 edged 0.3%
higher to 33,451 and the Kospi in Seoul edged 0.1% higher, to 2,511.
European shares
climbed to a two-month high on Wednesday, led by real estate stocks, with
software firm Sage jumping to a record high following a strong annual operating
profit and share buyback plan.The pan-European STOXX 600 was up 0.2%, while
real estate stocks led sectoral gains, rising 1.1%.
Oil Prices Fall – Oil prices slipped slightly on Wednesday in quiet pre-US
Thanksgiving holiday trading, as the market awaited news on output cuts from
the OPEC+ producers group and looked for confirmation of a sharp build-up in US
crude stocks.Brent crude futures fell 52 cents to $81.93 a barrel. U.S. West
Texas Intermediate crude futures were down 49 cents to $77.28.
Rupee Ends Slightly Higher – The Indian rupee ended slightly higher on Wednesday
aided by IPO-related inflows but importers’ US dollar demand capped gains.The
rupee closed at 83.32 against the U.S. dollar, marginally stronger than its
close at 83.3550 in the previous session.
Nifty futures opened at 19839.95 points against the previous close
of 19841.30 and opened at a low of 19755.60 points. Nifty Future closed with an
average movement of 138.80 points and decline of around 45.30 and 19886.60 points…!!
At the start of intra-day trading December gold opened at Rs.61159
fell from a high of Rs.61366 points to a low of Rs.61070 with a rise of 58 points,
a trend of around Rs.61283 and December Silver opened at Rs.73149, fell from a
high of Rs.73591 points to a low of Rs.73024 with a rise of 52 points, a trend
of around Rs.73356.
Meanwhile,
Despite Fed adopting a
cautious stance in its minutes and refraining from indicating a rate cut, the
market recovered from the day’s correction and ended with mild gains.
On the other hand, the
broad market witnessed some profit booking as investors’ focus shifted to the
primary market, marked by a set of IPOs scheduled for this week. However, the
undercurrent is positive, with a cooling of inflation and an easing US bond
yield supporting a short- to medium-term rally.
Technically,
the important key resistances are placed in October Nifty future are at 19886 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 19808 –
19676 levels.
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