Dear Trader –
Indian equity
benchmark indices ended with gains on Friday, led by IT and auto stocks. While
the S&P BSE Sensex closed at 71,107, up by 242 points or 0.34%, the broader
Nifty settled 35 points or 0.16% higher at 21,385.
The blue-chip indexes
had gained 12.65% and 12.07% over the last seven weeks, aided by strong
domestic macroeconomic data, a return of foreign inflows due to an improving US
rate outlook and moderation in oil prices.
The IT sector hogged the limelight on Friday
with the Nifty IT ending with gains of 2.3%. It was aptly supported by auto,
pharma, metal and realty stocks, which negated the selling pressure in bank and
financial stocks.
Nifty breadth was
skewed in favour of the gainers as 38 stocks ended in the green. The top gainer
was Wipro which shot over 6%. It was followed by HCL Technologies, Bajaj Auto,
Hindalco Industries and Tata Motors. Among the top laggards were Grasim
Industries, HDFC Bank, Bajaj Finance, State Bank of India (SBI) and ICICI
Bank.Barring banks, most sectors ended the session with gains. Volatility index
India VIX settled at 13.71, lower by 0.36%.
Global Markets –
UK’s FTSE 100 Index
was trading with minor gains and was up 4.68 points at 7,699.41 while Germany’s
Dax was down by 0.12%. France’s CAC 40 Index was flat at 7,569.89. Japan’s
Nikkei 225 index gave-up its morning gains to end at 33,169.10, up 28.58 or
0.09% while China’s Shanghai Composite settled 0.13%.
Singapore’s FTSE
Straits Times Index closed with 0.90% gains, retaining the top spot among major
Asian indices. South Korea’s Kospi also closed in the red.
Nifty futures opened at 21350.40 points against the previous close
of 21401.55 and opened at a low of 21285.00 points. Nifty Future closed with an
average movement of 189 points and decline of around 34.65 and 21385.00 points…!!
At the start of intra-day trading December gold opened at Rs.62784
fell from a high of Rs.63170 points to a low of Rs.62687 with a rise of 547 points,a trend of around Rs.63050 and December
Silver opened at Rs.75763 , fell from a high of Rs.75960 points to a low of Rs.75513
with a rise of 388 points, a trend of around Rs.75814.
Meanwhile,
Bullish markets are
interspersed with minor corrections due to myriad of factors, and profit
booking being one of the critical ones. With the thinning of institutional
participation, the markets witnessed volatility but managed to close on a
positive note. Over the near the markets may remain volatile, and find its
footing only in the new year as the holiday season ends.
Technically,
the important key resistances are placed in October Nifty future are at 21385 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 21606 – 21808 levels. Immediate support
is placed at 21202 – 21008 levels.
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