Dear Trader…
Nifty future ended with a loss of 157 points at 25,095 (-0.62%) as earnings volatility weighed on investor sentiments; even as the India-UK free trade agreement to be signed on Thursday, is expected to provide a significant boost to foreign trade.
Moreover, intensifying FII selling with outflows of over Rs28,000cr in July so far, has further added to investor concerns. IT stocks witnessed sharp decline with Nifty IT down over 2%, after mid-cap players Coforge and Persistent reported weaker than expected quarterly results.
Additionally, lingering uncertainty around the India-US trade deal further weighed on the sector. In contrast, Nifty PSU bank index gained 1.2% on the back of strong Q1 results from Canara Bank and Indian Bank.
Overall, we expect Indian markets to remain range-bound, with stock/sector specific movements driven by Q1 earnings outcome. Meanwhile, global developments including formalisation of the UK FTA and updates on the India-US trade deal, will be closely tracked by market participants.
Nifty futures opened at 25290 points against the previous close of 25252 and opened at a low of 25049 points. Nifty Future closed with an average movement of 241 points and a decline of around 157 points and 25095 points…!!
On the NSE, the midcap 100 index will decline 0.58% and smallcap 100 index is closing decline 1.09%. Speaking of various sectoral indices PSU Bank, Healthcare, Healthcare Index, Pharma, Metal and Auto stocks saw gain on the NSE, while all other sectoral indices closed lower.
At the start of intra-day trading, August gold opened at Rs.99118, fell from a high of Rs.99118 points to a low of Rs.98283 with a decline of 989 points, a trend of around Rs.98428 and September Silver opened at Rs.1,14,675, fell from a high of Rs.1,15,450 points to a low of Rs.1,14,350 with a decline of 828 points, a trend of around Rs.1,14,808.
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 15482.42 crore against gross selling of Rs 18781.70 crore. Thus, FIIs stood as net sellers of Rs 3299.28 crore in equities.
In the debt segment, the gross purchase was of Rs 540.16 crore with gross sales of Rs 1114.98 crore. Thus, FIIs stood as net sellers of Rs 574.82 crore in debt. Of the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs 360.43 crore, they stood at net buyers in Debt-VRR segment at Rs 29.98 crore, while net sellers in Debt-FAR segment at Rs 244.37 crore.
In the hybrid segment, the gross buying was of Rs 30.27 crore against gross selling of Rs 15.29 crore. Thus, FIIs stood as net buyers of Rs 14.98 crore in hybrid segment.
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