Dear Trader…
Markets witnessed volatile swings on the monthly expiry day and ended marginally lower amid mixed cues. The surprise tariff announcement by the US President on India initially triggered a knee-jerk reaction; however, a gradual recovery in heavyweight stocks across sectors helped the index briefly turn positive. Selling pressure resurfaced in the final hours, once again putting bulls on the back foot. As a result, the Nifty future closed at 24,871.60, down 0.35%.
All major sectors, except FMCG, came under pressure, with pharma, metal, and energy emerging as the top losers. The broader indices also resumed their corrective phase, each losing over a percent.
As the new series begins, the market is likely to consolidate, but global developments and corporate earnings will continue to drive volatility. We maintain our cautious stance and recommend a stock-specific approach, given the mixed trends across sectors. Traders should also avoid averaging down on loss-making positions.
Nifty futures opened at 24800 points against the previous close of 24959 and opened at a low of 24723 points. Nifty Future closed with an average movement of 328 points and a decline of around 87 points and 24871 points…!!
On the NSE, the midcap 100 index will decline 0.93% and smallcap 100 index is closing decline 1.05%. Speaking of various sectoral indices, the NSE saw gains in only FMCG and Media stocks, while all other sectoral indices closed lower.
At the start of intra-day trading, August gold opened at Rs.98106, fell from a high of Rs.98495 points to a low of Rs.97900 with a rise of 373 points, a trend of around Rs.98440 and September Silver opened at Rs.1,12,108, fell from a high of Rs.1,12,108 points to a low of Rs.1,09,080 with a decline of 2654 points, a trend of around Rs.1,10,210.
Meanwhile, amid a bearish market, Nifty FMCG soared 791 points or 1.44 per cent, driven by buying interest- especially in Hindustan Unilever after it reported decent earnings in Q1. Other sectoral indices settled in negative territory with Nifty Auto falling 89 points, Nifty IT slipping 180 points, and Nifty Bank closing 188 points down.
The domestic market attempted a strong recovery after experiencing a sharp decline, but by the end of the day, it closed with marginal losses on a monthly expiry day. Investors gravitated toward domestically oriented, non-discretionary players, especially FMCG, which offered attractive valuations, demand outlook and relative insulation from tariff risks.
The securities quoted are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read and agree Disclaimer and related all the documents carefully before investing, mentioned on www.nikhilbhatt.in
