Dear
Trader…
The BSE benchmark Sensex fell 33 points, or 0.04%, to settle
at 76,456, while the Nifty future gained 65.50 points, or 0.28%, to end at 23,312.65.
From the Sensex pack, Kotak Mahindra Bank, Asian Paints,
Reliance Industries, ITC, and Sun Pharma closed in the red, while L&T, Tata
Motors, Maruti, NTPC, and UltraTech Cements ended in the green.
Meanwhile, the Nifty Oil & Gas index ended 1.3% higher,
driven by a nearly 6% jump in ONGC after Jefferies raised its target price on
the oil refiner’s stock.
The broader, domestically-focused small caps and mid-caps
rose by 0.55% and 0.8%, respectively, outperforming the benchmarks.
IndiGo’s shares fell by 4.3% following reports that its
promoters, the Bhatia family, likely sold a 2% stake in the budget airline.
The market breadth was skewed in favour of the bulls. About
2,467 stocks gained, 1,397 declined, and 105 remained unchanged on the BSE.
Global
Markets –
The U.S. interest rate-sensitive Nifty IT index closed flat
ahead of the US consumer price index data, which is due tomorrow.
Crude
Oil – Oil prices were steady on Tuesday,
as investors waited for key U.S. and China CPI data as well as the outcome of
the Federal Reserve’s policy meeting to glean a clearer picture of where
inflation is heading and how that will affect fuel demand.
Brent crude futures fell 32 cents, or 0.3%, to $81.3 per
barrel and U.S. West Texas Intermediate crude futures slipped 33 cents, or
0.4%, to $77.39.
Rupee
at record Low – The Indian rupee weakened
slightly on Tuesday to end at a record closing low, pressured by weakness in
other Asian peers and despite intermittent dollar selling intervention by the
central bank in late trade.
The rupee settled at 83.5650 against the U.S. dollar, 0.1%
below its close of 83.5050 in the previous session.
Nifty futures opened at 23253.65 points against the previous
close of 23247.15 and opened at a low 23220.20 points. Nifty Future closed with
an average movement of 227.00 points and a decline of around 65.50 points and
closed 23312.65 points…!!
At the start of intra-day trading, June gold opened at Rs.71251,
fell from a high of Rs.71709 points to a low of Rs.71004 with a rise of 92 points,
a trend of around Rs.71530 and July Silver opened at Rs.89100, fell from a high
of Rs.89569 points to a low of Rs.88161 with a decline of 1119 points, a trend
of around Rs.88915.
Meanwhile,
After a notable rebound, the domestic market has
stabilized, awaiting further triggers. With the resolution of uncertainties in
government formation, attention has shifted back to global and domestic
indicators.
Technically, the
important key resistances are placed in Nifty future are at 23312 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 23373 – 23474 levels. Immediate support is placed at 23108 – 23008 levels.
Past Performance is not an Indicator of Future Returns. The
securities quoted are for illustration only and are not recommendatory.Investment
in securities market are subject to market risks. Read Disclaimer and related
all the documents carefully before investing, mentioned on www.nikhilbhatt.in
