Dear
Trader…
Markets came under pressure and declined by nearly one and a
half percent, largely weighed down by weak global cues. After two days of
lackluster movement, the Nifty slipped below its key support level of 23,000 in
early trade and continued to drift lower, eventually settling at 22,958.15.
Most sectors witnessed significant pressure, with metals, pharma, and energy
being the worst performers. The broader indices, which had outperformed in the
previous sessions, saw a sharp correction, plunging between 3% and 4%.
The sharp fall in global markets—particularly in the US—and
fresh concerns over potential tariffs on pharma impacted sentiment negatively.
However, sustained strength in banking and financial stocks helped limit the
overall downside to some extent. Looking ahead, we anticipate a time-wise
correction in the Nifty index. Traders are advised to stay focused on stock
selection and adopt a hedged strategy until further clarity emerges.
Nifty futures opened at 23229 points against the previous
close of 23325 and opened at a low of 22920 points. Nifty Future closed with an
average movement of 329 points and a decline of around 367 points and 22958 points…!!
On the NSE, the midcap 100 index will decline 2.91% and smallcap
100 index is closing decline 3.56%. Speaking of various sectoral indices, the
NSE saw gains in only FMCG stocks, while all other sectoral indices closed
lower.
At the start
of intra-day trading, June gold opened at Rs.89451, fell from a high of Rs.90817
points to a low of Rs.89260 with a decline of 209 points, a trend of around Rs.89848
and May Silver opened at Rs.94100, fell from a high of Rs.94100 points to a low
of Rs.91392 with a decline of 2923 points, a trend of around Rs.91476.
Meanwhile, The
FIIs as per Friday’s data were net sellers in equity and debt segments both,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 9581.81 crore against gross selling of Rs 12540.37 crore. Thus, FIIs
stood as net sellers of Rs 2958.56 crore in equities.
In the debt
segment, the gross purchase was of Rs 2322.13 crore with gross sales of Rs
5741.28 crore. Thus, FIIs stood as net sellers of Rs 3419.15 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
1172.56 crore, they stood at net sellers in Debt-VRR segment at Rs 538.84
crore, while net sellers in Debt-FAR segment at Rs 1707.75 crore.
In the
hybrid segment, the gross buying was of Rs 55.34 crore against gross selling of
Rs 49.91 crore. Thus, FIIs stood as net buyers of Rs 5.43 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 23133 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 23232 – 23303 levels. Immediate support is placed at 22880
– 22808 levels.
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