Dear Trader…
Markets ended lower on Thursday, with the Nifty future closing at 25,174, down 0.28%. Volatility persisted amid the Nifty’s weekly F&O expiry, while the broader indices also remained weak. Sectorally, profit booking was seen in PSU stocks after the previous session’s sharp rally, dragging the Nifty PSU Bank index down 0.8%. Nifty IT led the losses, falling 1.4%, as sentiment remained fragile amid a cautious start to the Q1 earnings season.
Asian markets traded lower as the U.S. struck a one-sided trade deal with Indonesia. Under the agreement, Indonesian exports to the U.S. will face a 19% tariff, while U.S. exports to Indonesia will enjoy zero tariffs or non-tariff barriers, highlighting the imbalance in trade concessions.
Media reports indicated the US may offer India a tariff rate below 20% amid ongoing trade discussions in Washington DC. Going forward markets are likely to remain in consolidation mode, with focus on ongoing earnings and progress in US-India trade negotiations. Key results on Friday include Reliance Industries, JSW Steel, and L&T Finance.
Nifty futures opened at 25260 points against the previous close of 25245 and opened at a low of 25165 points. Nifty Future closed with an average movement of 110 points and a decline of around 71 points and 25174 points…!!
On the NSE, the midcap 100 index will decline 0.17% and smallcap 100 index is closing decline 0.12%. Speaking of various sectoral indices only IT, PSU Bank, Private Bank, Media, Oil & Gas and Auto stocks were seen selling on the NSE, while all other sectoral indices closed higher.
At the start of intra-day trading, August gold opened at Rs.97511, fell from a high of Rs.97549 points to a low of Rs.97110 with a decline of 576 points, a trend of around Rs.97212 and September Silver opened at Rs.1,13,610, fell from a high of Rs.1,13,680 points to a low of Rs.1,13,080 with a rise of 58 points, a trend of around Rs.1,13,504.
Meanwhile, The FIIs as per Thursday’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 12039.57 crore against gross selling of Rs 13080.16 crore. Thus, FIIs stood as net sellers of Rs 1040.59 crore in equities.
In the debt segment, the gross purchase was of Rs 740.97 crore with gross sales of Rs 1050.79 crore. Thus, FIIs stood as net sellers of Rs 309.82 crore in debt. Of the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs 30.28 crore, they stood at net buyers in Debt-VRR segment at Rs 2.60 crore, while net sellers in Debt-FAR segment at Rs 342.7 crore.
In the hybrid segment, the gross buying was of Rs 17.37 crore against gross selling of Rs 21.37 crore. Thus, FIIs stood as net sellers of Rs 4.00 crore in hybrid segment.
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