Dear Trader…
Sensex slipped 55.47 points, or 0.07 per cent, to 79,486.32. On the
other hand, Nifty fell 51.15 points, or 0.21 per cent, to 24,148.20. Nifty Bank
fell 355.30 points or 0.68 per cent to 51,561.20. Nifty Midcap 100 index closed
at 56,352.00 at the end of trading after falling 757.15 points or 1.33 per
cent. The Nifty Smallcap 100 index closed at 18,445.60 after falling 318.25
points or 1.70 per cent.
The realty, energy, and media sectors of Nifty fell by more
than 2 per cent. Apart from this, selling was seen in auto, PSU bank, financial
service, metal, private bank and infra sector. Asian Paints, Tata Steel, SBI,
Tata Motors, Reliance, NTPC, ICICI Bank and Bharti Airtel were the top losers
in the Sensex pack. At the same time, M&M, Titan, Tech Mahindra, Nestle
India, and Infosys were the top gainers. On the Bombay Stock Exchange (BSE),
1,397 stocks were trading in green, 2,574 in red, and there was no change in 93
shares.
According to market experts, consolidation continued in the
market as investors stayed cautious due to disappointment in earnings and the
flight of FIIs. The US Fed continued its rate-cutting cycle to stimulate the
economy and is expecting a similar 25-bps rate cut in the December policy meet
amid moderation in inflation, they said. They further added that inflation in
India is projected to rise in October and the strong US dollar will force the
RBI to keep rates on hold in the near future.
Nifty futures opened at 24334 points against the previous close of 24300
and opened at a low of 24155 points. Nifty Future closed with an average
movement of 259.55 points and a decline of around 104.10 points and 24196 points…!!
On the NSE, the midcap 100 index will decline 1.33% and smallcap 100
index is closing diceline 1.70 %. Speaking
of various sectoral indices, the NSE saw gains in only IT, Consumer Durables, FMCG,
Healthcare and Pharma stocks, while all other sectoral indices closed lower.
At the start of intra-day trading, December gold opened at Rs.78051,
fell from a high of Rs.78103 points to a low of Rs.77709 with a decline of 98 points,
a trend of around Rs.77950 and December Silver opened at Rs.92224, fell from a
high of Rs.92370 points to a low of Rs.91143 with a decline of 695 points, a
trend of around Rs.91618.
Meanwhile, The FIIs as per Friday’s data were net sellers in both equity
and debt segments, according to data released by the NSDL. In equity segment,
the gross buying was of Rs 11632.34 crore against gross selling of Rs 17267.79
crore. Thus, FIIs stood as net sellers of Rs 5635.45 crore in equities.
In the debt segment, the gross purchase was of Rs 1,722.98 crore with
gross sales of Rs 2,630.43 crore. Thus, FIIs stood as net sellers of Rs 907.45
crore in debt. Of the total debt, FIIs stood as net sellers in Debt-General
Limit segment at Rs 57.76 crore, they stood at net sellers in Debt-VRR segment
at Rs 7.95 crore and net sellers in Debt-FAR segment at Rs 841.74 crore.
In the hybrid segment, the gross buying was of Rs 150.48 crore against
gross selling of Rs 152.77 crore. Thus, FIIs stood as net sellers of Rs 2.29
crore in hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 24303 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 24404 – 24474 levels. Immediate support is placed at 24008 – 23979 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
