Gap-down start likely as markets factor in mounting geopolitical risks

The Indian indices may open lower on Friday, tracking weak global cues on the back of mounting geopolitical risks. The SGX Nifty, which was trading at 10,065, suggests that the Nifty may open gap-down by 59 points. 
 
Nifty50 index is facing stiff resistance around the levels of 10,130-10,140, and if Nifty sustains above this level, a fresh upmove may be seen. On the downside, the level of 10,040 may act as an immediate support, with the next support seen around 10,000 level.
 
Back home, Indian market ended a volatile trading session with modest gains. Sun Pharma, Axis Bank and Adani Ports topped the list of gainers, while Wipro and Vedanta led the losers. To end the day, BSE Sensex gained 55 points while Nifty climbed 7 points to close at 10,086.
  
The US stock markets ended Thursday’s session on a mixed note with the Dow Jones Industrial Average closing at a record level, while the S&P 500 and the Nasdaq Composite ended in the negative terrain. The Dow Jones Industrial Average rose 45 points to settle at 22,203. The Nasdaq Composite Index lost 31 points to close at 6,429. The S&P 500 edged down 3 points to finish at 2,496.
 
Markets in Asia are jittery in early trade on Friday after a report of North Korea firing a ballistic missile across Japan. Japan’s Nikkei 225 has gained 0.12%, while Hong Kong's Hang Seng has plunged 0.69% and China’s Shanghai Composite has shed 0.54%.

Markets may remain sluggish on cues from Asian peers

The Indian stock markets look set to open tad lower on Thursday on the back of sluggish trading across Asian peers. The SGX Nifty, which was trading at 10,095, indicated that the Nifty may open lower by 7 points. 
 
Going forward, Nifty has immediate resistance in the zone of 10,088-10,100, followed by 10,140-10,150. On the other hand, if Nifty continues to correct from current levels , the zone of 10,040-10,020 may act as a support level for the Nifty.
 
Back home, after opening almost flat, Indian markets rallied to almost life-time high levels by mid-noon session, but in the last hour of trading, markets cracked swiftly. The broader markets underperformed, which is why market bias remained weak with 599 advances and 1079 declines. At the closing bell, Sensex gained 28 points to close at 32,186 and Nifty shed 14 points to settle at 10,079.
 
On the Wall Street, all three major US stock indices spent the day bouncing back and forth across the neutral line and eventually ended the session with marginal gains, reaching new record closing highs. The Dow Jones Industrial Average gained 39 points to end at 22,158. The Nasdaq Composite Index advanced 6 points to finish at 6,460 and the S&P 500 inched up 2 points at 2,498.
 
Asian stocks were seen trading subdued in early trade on Thursday. The Japan’s Nikkei 225 has climbed 17 points and China’s Shanghai Composite has risen 7 points, while Hong Kong's Hang Seng has shed 52 points.

Immediate support for Nifty moves upward to 9,970-9,980

Nifty ended above the important mark of 10,000 for the first time after August 7, 2017. Nifty closed at 10,006 level, up by 71 points, while Sensex closed at 31,882 level, up by 194 points.
 
Private bank stocks like IndusInd Bank, Yes Bank and HDFC bank were the top contributors to the gains of major indices, Nifty and Sensex.
 
Finally, the Nifty50 index manages to pierce its strong resistance of 9,980-10,000 on closing basis, now going forward buying momentum is likely to continue. On the upside, the level of 10,060 and 10,080 may act as a resistance zone, whereas, on the downside, the level of 9,970-9,980 may act as an immediate support zone.
 
Nifty September future ended at a premium of 19.85 points as compared to a premium of 15.20 points in the last trading session. On the options front, Nifty September 10,000 PE has seen addition of 10.31 lakh shares in open interest while Nifty September 10200 CE has seen addition of 4.95 lakh shares in open interest.
 
However, the maximum open interest is seen in Nifty September strike 9900 PE of 56 lakh shares and 10200 CE of 36.56 lakh shares.

Markets may extend gains on positive cues from global markets

Taking a positive cue from global markets, the key domestic benchmark indices are likely to extend gains on Tuesday. The SGX Nifty, which was trading at 10,055, suggests that the Nifty could gain around 30 points at the opening bell.
 
Finally, the Nifty50 index managed to pierce its strong resistance of 9,980-10,000 on a closing basis. Now, going forward, buying momentum is likely to continue. On the upside, the levels of 10,060 and 10,080 may act as resistance zones, whereas on the downside, the levels of 9,970-9,980 may act as an immediate support zone.
 
Back home, Indian market ended the trading session on Monday with robust gains owing to positive global peers. The Nifty settled above the magical five figure mark of 10,000 and the BSE Sensex surged 195 points to finish at 31,882. IndusInd Bank and Bharat Financial Inclusion rose 5.6% and 3.5%, respectively.
 
The US stock market indexes closed sharply higher on Monday, with the benchmark S&P 500 ending the session at an all-time high. The strength on Wall Street was seen as the impact of Hurricane Irma was not as severe as many had projected.  The Dow Jones Industrial Average surged 260 points to close above the important psychological 22,000-mark. The Nasdaq Composite Index rose 72 points to finish at 6,432 and the S&P 500 rallied 27 points to close at 2,488.  
 
Asian markets' benchmarks were mostly higher in early trade on Tuesday following gains on Wall Street. The Japan’s Nikkei 225 has gained 0.99%, whereas Hong Kong's Hang Seng and China’s Shanghai Composite are trading flat.

Markets likely to open positive on strong global cues

Indian benchmark indices are likely to the start the week on a positive note on the back of strong global cues. The SGX Nifty, which was trading at 9,981, indicates that the Nifty could gain point at the opening bell.

Now, going ahead, Nifty has a cluster of resistance in the zone of 9,980-10,000. Successful breakout of this resistance zone may unfold a fresh leg of upmove towards the levels of 10,080 and 10,140. On the other hand, support is seen around 9,880 and 9,850 levels.
 
Back home, it was yet another day of consolidation as Indian market remained range-bound and settled the last trading session of the week with marginal gains. The broader market underperformed the benchmark indices and the market breadth, indicating the overall health of the market, was negative. Sector-wise, pharma, public sector banks and realty prevented the markets from gaining ground and dragged the markets.
 
The US stocks ended Friday’s session on a mixed note, with both the S&P 500 and the tech-heavy Nasdaq Composite ending the session in the red, whereas the Dow Jones Industrial Average eked out modest gains. The Dow Jones Industrial Average gained 13 points to close at 21,798. The Nasdaq Composite Index fell 38 points and the S&P 500 slipped 4 points to 2,461.
 
Asian stocks edged higher in early trading on Monday. Japan’s Nikkei 225 is leading with gains of 1.44%, followed by Hong Kong's Hang Seng and China’s Shanghai Composite which have gained 0.95% and 0.21%, respectively.

Markets likely to open in positive territory on cues from Asian peers

Indian shares may open modestly higher on Friday amid positive cues from Asian markets. The SGX Nifty, which was trading at 9,976, indicates that the Nifty could open in positive territory at the opening bell.
 
Nifty50 index has a strong hurdle in the range of 9,980-10,000, while on the downside, the immediate support is placed at the level of 9,880 and the next support is placed around the level of 9,850, which is a major support for the Nifty50.
 
Back home, equity benchmarks ended almost flat on Thursday after a range-bound session. The BSE Sensex closed near neutral line, while Nifty advanced 14 points to finish at 9,930. The broader market outperformed the benchmark indices as the Mid-cap and the Small-cap index rose 0.76% and 0.46% respectively.

The US stocks spent the day bouncing back and forth across the neutral line and eventually ended the Thursday’s session roughly flat. The tech-heavy Nasdaq Composite index ended at 6,398, up by 5 points, whereas the Dow Jones Industrial Average dipped 23 points to close at 21,785 and the S&P ended flat with a negative bias.
 
A majority of the Asian stock indices were trading in the positive territory in early trade on Friday. Hong Kong's Hang Seng has risen 0.46% and China’s Shanghai Composite has gained 0.23%, while Japan’s Nikkei 225 has lost 0.31%

Markets likely to open in positive zone

Indian shares may open in upbeat mood on Thursday following positive global cues. The SGX Nifty, which was trading at 9,966 up by 21 points is indicating a positive start for the day.
 
Nifty50 has immediate resistance placed at levels of 9,940 followed by 9,980-10,000 and if it sustains above these levels it may move higher up to levels of 10,080. On the flip-side, supports for Nifty are seen around 9,860 and 9,810.
 
Back home, Indian markets ended Wednesday’s session in negative terrain, but off their day’s low as buying in cement and mining stocks such as Ultra Tech, Hindalco and Coal Indian helped to offset some of the losses. The BSE Sensex ended the session down by 148 points at 31,662, while the Nifty50 index ended at 9,916 lower by 36 points from its previous close.

The US stocks ended higher on Wednesday following news President Donald Trump agreed to support a measure that would raise the debt ceiling and fund the government for three months. The Dow Jones Industrial Average rose 54 to finish at 21,808. The Nasdaq Composite Index advanced 18 points to close at 6,393. The S&P 500 climbed 8 points to 2,466.
 
The Asian stock indices were trading positive on Thursday following cheerful close on Wall Street. The Japan’s Nikkei 225 has surged 0.38% and the Hong Kong's Hang Seng has jumped 0.44%. The China’s Shanghai Composite was almost unchanged.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

Markets to follow weak global cues

Indian shares may open lower on Wednesday, mirroring weak cues from Asian markets after US stocks fell notably overnight. The SGX Nifty, which was trading at 9,936 lower by 39 points is indicating a negative start for the day.

Now going forward, Nifty50 index strong resistance in the zone of 9,990-10,000 and if it sustains above these levels it may extend its upward rally up to levels of 10,080. On the downside, important support for Nifty are seen around 9,900 and 9,860.
 
Back home, Indian markets registered modest gains in volatile session of trade on Tuesday. Realty and Cement stocks were seen buzzing on the bourses. The broader market outperformed the benchmark indices. At the closing bell, the Sensex settled at 31,810 with gains of 107 points and Nifty ended the day with gains of 39 points above 9,950.

The US stock indices ended Tuesday’s session sharply lower as investors focused on heightened tensions between the West and North Korea and worries about a lack of policy progress on President Donald Trump’s pro-growth agenda. All three benchmark indices logged their worst one-day drop since August 2017. The Dow Jones Industrial Average plunged 234 points to 21,753. The tech-heavy Nasdaq Composite Index tumbled 60 points to 6,376. The S&P 500 shed 19 points to 2,458.
 
The Asian stock indices were trading lower on Wednesday after a sharp fall on the Wall Street in the overnight trade. The Japan’s Nikkei 225 has drop 0.38% and the Hong Kong's Hang Seng has lost 0.88%. The China’s Shanghai Composite has slipped 0.36%.

Markets likely to open mildly higher

Indian equity markets may open slightly higher on Tuesday. Trading of Nifty50 index futures on the Singapore stock exchange suggesting that the Nifty could rise 20 points at the opening bell.
 
Nifty50 index has immediate resistance around level of 9,935-9,950 and if it holds above this zone it may scale up to levels of 10,000. On the downside, support zone for the Nifty is seen around levels of 9,850 and next support is seen around levels of 9,820.
 
Back home, Indian benchmark indices almost washed off three days winning streak despite positive opening. Nifty plummeted amid weak Asian bourses in the wake of escalated North Korea tensions. Barring Media and Metal which closed marginally up, all other sectors ended in red territory, where, Realty index led the fall. Market bias remained highly weak with 582 advances and 1124 declines.
The US stock-indexes were closed on Monday on the account of Labour Day.
 
Asian stock indices were trading mixed on Tuesday. The Japan’s Nikkei 225 has shed 0.56%. The Hong Kong's Hang Seng has rose 0.34%. The China’s Shanghai Composite has slipped 0.06%.

Opening Bell – Markets open higher; Pharma stocks gain

At 09:15, Nifty opened at 9,937 level, up by 20 points while Sensex opened at 31,769 level, up by 38 points. There were 931 advances, 430 declines and 460 unchanged stocks on NSE reflecting fairly positive undertone in the market.
 
Dr Reddy’s was top Nifty gainer trading at Rs 2,160 per share, up by 6.88% while TCS was top Nifty loser trading at Rs 2,463.3 per share, down by 1.32%.
 
On the broader markets, BSE Mid-cap index was trading at 15,604 level, up by 0.42% while BSE Small-cap index was trading at 16,061 level, up by 0.44%.
 
The rupee opened at 63.92 per USD as against the previous close of 63.9 per USD.