Dear Trader –
While the S&P BSE
Sensex settled at 71,386.21, up 31 points or 0.04%, the broader Nifty ended at
21,628.80, higher by 49.25 points or 0.23%.Bank stocks fell into the red
after a strong opening. IT stocks, too, were off their day’s highs.
While the market
breadth remained marginally skewed in favour of the bulls with 27 stocks in
Nifty trading in the green, several heavy-weights pared-off morning gains. The
top gainers were Hero MotoCorp, Adani Ports, SBI Life Insurance Company, Apollo
Hospitals and Adani Enterprises while biggest laggards included Britannia
Industries, Bajaj Finserv, Nestle India, HDFC Life and Asian Paints.
Of the 15 Nifty
sectoral indices, selling pressure was witnessed in seven even as eight ended
in the green.FMCG stocks also took the beating at the hands of investors. Among
gainers were auto and IT stocks along with previous week’s hero realty.About
2,241 stocks gained, 1,606 declined, and 97 remained unchanged on the BSE.
Global Markets –
Currency Watch – The Indian rupee ended
little changed on Tuesday after dollar demand from state-run banks ate into the
local unit’s early gains in the light of a proposal to include eligible Indian
bonds in the Bloomberg Emerging Market Local Currency Index.The rupee
ended at 83.1150 against the US dollar, barely changed compared to its close at
83.1375 in the previous session.
Nifty futures opened at 21680.20 points against the previous close
of 21579.55 and opened at a low of 21592.40 points. Nifty Future closed with an
average movement of 215.40 points and decline of around 49.25 and 21628.80 points…!!
At the start of intra-day trading January gold opened at Rs.62149 fell
from a high of Rs.62433 points to a low of Rs.62149 with a rise of 240 points,a
trend of around Rs.62335 and January Silver opened at Rs.72596, fell from a
high of Rs.72999 points to a low of Rs.72313 with a decline of 94 points, a
trend of around Rs.72521.
Meanwhile, Positive sentiments in the Indian IT sector
fuelled by a US tech rally and demand on emerging technologies, overshadowed
the anticipated muted Q3 results of the sector. Auto & realty continued to
remain favourites on account of strong demand. Market optimism about potential
softening of US inflation is driving expectations of near-term rate cuts,
bolstering overall sentiment.
Technically,
the important key resistances are placed in October Nifty future are at 21628 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 21808 – 21880 levels. Immediate support
is placed at 21570 – 21474 levels.
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