Sensex and Nifty50 index both flat as Investors are cautious ahead of Friday’s US jobs data, which is expected to show moderate hiring amid signs of a cooling economy.
Indian shares recovered from initial losses, with gains in Reliance Industries, State Bank of India, and Hindustan Unilever offset losses in HDFC Bank Ltd. Analysts expressed concerns following a weak Q1 business update.
Sectors and stocks
The Nifty saw sectoral gains, with Nifty Oil & Gas leading with a 1.9% gain, followed by Nifty Pharma and PSU Bank. Nifty FMCG also showed strength. Investors are cautious ahead of Friday’s US jobs data, which could influence the Fed’s rate cuts decision.
Investors are cautious ahead of Friday’s US jobs data, which is expected to show moderate hiring amid signs of a cooling economy.
July 06 Forecast
The domestic market traded mixed, with the banking sector laggard and top lending banks experiencing declines in deposit growth. Midcap and Small Cap outperformed, while investors await US non-farm payroll data.
Indian equity markets remain positive, with the Sensex 30 and Nifty 50 index reaching new highs. Sectoral indices like BSE IT services performed well ahead of Q1FY25 earnings season. Key events include macro factors, Union Budget, and Q1FY25 earnings. Individual stocks will focus on Q1FY25 earnings and management commentary.
The Nifty index experienced initial weakness but experienced heavy put writing, marking short-term support at 24200. The bullish trend is likely to persist until it breaks below 24200 decisively.
FII Bought | 1,241.33 Cr |
DII Sold | -1,651.36 Cr |
Indian Market Stocks
Sensex | -53.07 | -0.07% | 79,996.60 |
Nifty 50 | 21.70 | +0.09% | 24,323.85 |
Nifty Bank | -443.35 | -0.83% | 52,660.35 |
Market Movers
ONGC | 11.15 4.02% | HDFC Bank | -79.05 -4.58% |
SBI | 20.45 2.44% | Titan Company | -66.65 -2.00% |
Reliance | 69.20 2.23% | Tata Steel | -1.58 -0.90% |
Britannia | 120.55 2.22% | M&M | -22.20 -0.76% |
TCS | 51.05 2.05% | LTIMindtree | -37.80 -0.69% |
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Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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