Dear Trader…
Markets traded in a lackluster manner and ended almost unchanged, taking a breather after the recent surge. Following an initial gap-up opening, Nifty future quickly gave up its gains and moved in a narrow range for the rest of the session.
Meanwhile, a mixed trend persisted across sectors, with IT, Pharma, and energy emerging as gainers, while realty and banking remained slightly on the back foot. The broader indices also paused after a strong spell of outperformance, closing the day on a flat note.
Participants remain slightly cautious amid mixed global cues, and the divergent trend among index heavyweights continues to weigh on overall sentiment. Amid this, we maintain our positive outlook and suggest adopting a “buy on dips” approach, with a strong emphasis on stock selection.
We are seeing increased participation from sectors like auto, IT, and Pharma, which were previously on the sidelines, now joining the uptrend on a rotational basis. Traders should align their positions accordingly.
Nifty futures opened at 25222 points against the previous close of 25181 and opened at a low of 25130 points. Nifty Future closed with an average movement of 119 points and a decline of around 21 points and 25160 points…!!
On the NSE, the midcap 100 index will rise 0.01% and smallcap 100 index is closing rise 0.14%. Speaking of various sectoral indices Only Realty, PSU Bank, Private Bank, Auto and Oil & Gas 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.96600, fell from a high of Rs.97335 points to a low of Rs.96276 with a rise of 22 points, a trend of around Rs.97195 and July Silver opened at Rs.1,06,725, fell from a high of Rs.1,07,369 points to a low of Rs.1,06,317 with a decline of 70 points, a trend of around Rs.1,07,017.
Meanwhile, Additionally, the trade agreement between India and the four-nation European bloc EFTA (European Free Trade Association comprising Iceland, Liechtenstein, Norway, and Switzerland) is likely to come into force from Sept’25 as per India’s Commerce Minster. Investors will be closely watching Trump’s speech later today and the U.S. inflation report due on Wednesday and India CPI due on Thursday, for further direction.
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