Dear Trader…
Indian equities rebounded after a three-day losing streak, with Nifty future climbing 128 points to close at 24,838 (+0.52%). The recovery was broad-based, led by value buying at lower levels. Notably, Nifty Realty (+2.6%) bounced back after steep losses in the last few sessions. Pharma stocks extended gains on follow-up buying, while select auto exporters remained in focus amid optimism around the recently announced US-EU trade deal.
There is significant action in the primary market with five mainboard IPOs including the Rs4000cr NSDL IPO opening for subscription this week. Going ahead, investor focus would shift towards global macros with US Q2 GDP and the Fed interest rate decision scheduled to be announced tomorrow.
On the earnings front, key results on Wednesday include Tata Steel, Interglobe aviation, Hyundai Motor, PNB, Power Grid amongst others. Overall, we expect the markets to witness selective buying, driven by quarterly results; while broader sentiment would hinge on macroeconomic data and progress in the India-US trade deal.
Nifty futures opened at 24636 points against the previous close of 24710 and opened at a low of 24630 points. Nifty Future closed with an average movement of 229 points and a rise of around 128 points and 25838 points…!!
On the NSE, the midcap 100 index will rise 0.81% and smallcap 100 index is closing rise 1.03%. Speaking of various sectoral indices, Realty, Pharma, Healthcare, Oil & gas and Metal stocks saw heavy gains on the NSE, while all other sectoral indices also closed higher.
At the start of intra-day trading, August gold opened at Rs.97627, fell from a high of Rs.98070 points to a low of Rs.97580 with a rise of 205 points, a trend of around Rs.97750 and September Silver opened at Rs.1,13,268, fell from a high of Rs.1,13,630 points to a low of Rs.1,12,700 with a rise of 96 points, a trend of around Rs.1,13,149.
Meanwhile, The FIIs as per Tuesday’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 10191.17 crore against gross selling of Rs 16154.77 crore. Thus, FIIs stood as net sellers of Rs 5963.60 crore in equities.
In the debt segment, the gross purchase was of Rs 693.20 crore with gross sales of Rs 1496.86 crore. Thus, FIIs stood as net sellers of Rs 803.66 crore in debt. Of the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs 574.57 crore, they stood at net sellers in Debt-VRR segment at Rs 26.89 crore, while net sellers in Debt-FAR segment at Rs 202.2 crore.
In the hybrid segment, the gross buying was of Rs 11.17 crore against gross selling of Rs 10.63 crore. Thus, FIIs stood as net buyers of Rs 0.54 crore in hybrid segment.
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
