Dear Trader…
Markets ended the weekly expiry session on a subdued note, with indices closing largely unchanged after a flat start. The Nifty futures oscillated in a narrow range throughout the day before settling at 25,122. Sectoral performance was mixed, as buying in pharma, realty, and financial stocks was offset by profit-taking in FMCG, energy, and auto counters. Broader markets also lacked momentum and finished flat to marginally lower.
Investor sentiment was shaped by ongoing discussions and approvals on GST reforms, which sparked sector-specific movements. At the same time, global cues remained in focus, particularly the upcoming Jackson Hole symposium, where commentary from central bankers is expected to influence market direction. The IT space, in particular, may stage a further rebound once greater clarity emerges on the global policy outlook.
Overall, sentiment continues to remain constructive despite the range-bound trade. Traders are advised to remain selective, capitalizing on opportunities created by rotational buying across sectors, while avoiding aggressive bets on the broader indices. A stock-specific approach appears prudent until clearer directional triggers come into play.
Nifty futures opened at 25111.10 points against the previous close of 25083 and opened at a low of 25086 points. Nifty Future closed with an average movement of 93 points and a rise of around 39 points and 25122 points…!!
On the NSE, the midcap 100 index will decline of 0.38% and smallcap 100 index is closing decline of 0.01%. Speaking of various sectoral indices only FMCG, PSU Bank, Auto, Consumer Durables and Metal stocks were seen selling on the NSE, while all other sectoral indices closed higher.
At the start of intra-day trading, October gold opened at Rs.99159, fell from a high of Rs.99471 points to a low of Rs.98915 with a rise of 96 points, a trend of around Rs.99400 and September Silver opened at Rs.1,12,702, fell from a high of Rs.1,13,100 points to a low of Rs.1,12,020 with a rise of 433 points, a trend of around Rs.1,12,986.
Meanwhile, India’s record-high composite PMI in August, reflecting strong expansion in both manufacturing and services, particularly in business activity, may provide stability in the near term.
Bajaj FinServ, ICICI Bank, Bajaj Finance, L&T, BEL, Sun Pharma, and Titan were the top gainers from the Sensex basket. PowerGrid, Eternal, Hindustan Unilever, NTPC, Mahindra and Mahindra, and Tata Motors settled in negative territory.
The sectoral indices experienced a mixed reaction amid value buying and profit booking. NiftyFin Services (up 85 points or 0.32 per cent) and Nifty Bank (up 56.95 points or 0.10 per cent) ended the session in green. While Nifty Auto (down 91.75 points or 0.36 per cent) and Nifty FMCG (down 361 points or 0.64 per cent) settled in negative territory. Nifty IT closed flat.
Going ahead, analysts expect the Indian market to remain firm, backed by optimism around GST reforms and an improved pace of corporate earnings growth.
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