Dear
Trader…
The 30-share BSE Sensex rose 141 points or 0.18% to settle at
77,479. The broader NSE Nifty future gained 94 points or 0.40% to end at 23,598.
From the Sensex pack, JSW Steel, Tata Steel, ICICI Bank,
Reliance Industries, and Kotak Mahindra Bank were the top gainers, rising over
1% each. On the other hand, Sun Pharma, M&M, NTPC, SBI, and Wipro were the
top laggards.
Nifty Pharma index dropped 0.5%, dragged by heavyweight Sun
Pharma, which closed 2.2% lower after its Dadra facility received a warning
letter from the US drug regulator. Sun Pharma was the top Sensex loser.
The private bank index rose 1.16%, after Macquarie said it
preferred them, given stable asset quality outlook and attractive valuations. Nifty
Metal index gained 1.8%,after top consumer China reiterated it will stick to a
supportive monetary stance, boosting sentiment. Nifty Realty index also closed
2% higher, led by Prestige, Lodha, and Oberoi Realty.
Meanwhile, the market capitalisation of all listed companies
on BSE surged by Rs 1.86 lakh crore to Rs 435.81 lakh crore. The market breadth
was skewed in the favour of the bulls. About 2,254 stocks gained, 1,612 declined,
and 115 remained unchanged on the BSE.
Global
Markets –
Global shares held around record highs on Thursday, supported
by investor confidence in the prospect of a drop in US interest rates this
year.
The MSCI All-World index was broadly steady at 805.19, having
marked another record high on Wednesday, when US markets were closed for a
public holiday. In Europe, the STOXX 600 rose 0.4% in early trading, lifted by
positive sentiment around the tech sector.
Crude
Oil – Brent oil futures were steady on Thursday,
hovering slightly below seven-week highs as the market awaited US inventory
data. August Brent crude rose by 32 cents, or 0.38%, to $85.39 per barrel. U.S.
West Texas Intermediate futures (WTI) for July, which expire on Thursday,
dipped 25 cents, or 0.31%, to $81.32.
Nifty futures opened at 23526.00 points against the previous
close of 23503.60 and opened at a low 23445.90 points. Nifty Future closed with
an average movement of 183.90 points and a decline of around 94.30 points and
closed 23597.90 points…!!
Rupee
Falls to Record low – The Indian rupee fell to a
record low on Thursday, pressured by likely outflows and strong dollar demand
from local importers. The currency declined to a lifetime low of 83.6650
against the US dollar in the latter half of the trading session and ended at a
record closing low of 83.6525. It had closed at 83.4550 in the previous
session.
At the start of intra-day trading, July gold opened at Rs.71880,
fell from a high of Rs.72270 points to a low of Rs.71806 with a rise of 433 points,
a trend of around Rs.72165 and July Silver opened at Rs.89989, fell from a high
of Rs.91111 points to a low of Rs.89989 with a rise of 1223 points, a trend of
around Rs.90699.
Meanwhile,
In the near term, market attention is expected to
centre around the upcoming Union Budget and the progress of the monsoon. On the
global front, the decline in US bond yields has facilitated robust FII inflows
in recent days. The fertiliser stocks exhibited good momentum, driven by the
proposed removal of GST & hike in MSP.
Technically, the
important key resistances are placed in Nifty future are at 23597 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 23636 – 23770 levels. Immediate support is placed at 23474 –
23373 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
