Share Markets Open The Week In Red Despite Asian Peers’ Rally: Sensex About 300 Points Down

I dia
equity
be chma ks
bega
Mo day’s
sessio
o
a
cautious
ote
despite
a
st o g
pe fo ma ce
ac oss
seve al
Asia
ma kets,
with
i vesto s
t acki g
global
cues,
c ude
oil
p ices
a d
developme ts
i
West
Asia.

The
BSE
Se sex
bled
close
to
300
poi ts
a d
tested
77,700,
while
the
NSE
Nifty50
slipped
mo e
tha
50
poi ts
to
i ch
close
to
24,300,
as
of
9:15
AM.

GIFT
Nifty
Sig als
Muted
Ope i g

The
GIFT
Nifty,
a
ea ly
i dicato
of
domestic
ma ket
se time t,
was
t adi g
a ou d
24,438,
dow
30
poi ts
i
ea ly
deals.

At
a ou d
9:03
AM,
the
Se sex
was
t adi g
at
77,722.57,
dow
286.68
poi ts,
o
0.37
pe
ce t,
while
the
Nifty
stood
at
24,351.90,
lowe
by
14.10
poi ts,
o
0.06
pe
ce t.

The
subdued
domestic
cues
come
afte
I dia
equities
faced
p ofit-booki g
last
week,
with
the
Nifty
a d
Se sex
both
e di g
the
week
lowe .

The
mixed
global
backd op
is
likely
to
keep
i vesto s
selective,
with
ma ket
pa ticipa ts
also
watchi g
developme ts
i
c ude
oil
a d
geopolitical
te sio s
fo
f esh
di ectio .

Asia
Ma kets
Rally
O
Softe
Rate
Expectatio s

Most
Asia-Pacific
ma kets
moved
highe
o
Mo day
as
i vesto s
scaled
back
expectatio s
of
fu the
US
ate
hikes
followi g
softe
eco omic
data.

South
Ko ea’s
Kospi
climbed
2.42
pe
ce t,
while
Ho g
Ko g’s
Ha g
Se g
adva ced
1.4
pe
ce t
i
mo i g
t ade.

The
gai s
offe ed
a
positive
global
cue
fo
egio al
equities,
although
domestic
ma kets
emai ed
compa atively
cautious
i
the
p e-ope
sessio .

Wall
St eet
E ds
Lowe

US
equities
closed
mostly
lowe
o
F iday.

The
Dow
Jo es
I dust ial
Ave age
decli ed
0.2
pe
ce t,
while
the
S&P
500
slipped
0.17
pe
ce t.
The
Nasdaq
Composite
e ded
0.28
pe
ce t
lowe .

The
mixed
pe fo ma ce
o
Wall
St eet
followed
a
pe iod
of
heighte ed
i vesto
focus
o
i te est
ate
expectatio s
a d
global
eco omic
sig als.

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Active
Vs
Passive
Fu ds:
7
Key
Diffe e ces
I vesto s
Should
K ow

C ude
Oil
Rises
As
West
Asia
Te sio s
Pe sist

Oil
p ices
moved
highe
as
i vesto s
assessed
the
latest
geopolitical
developme ts
i
West
Asia.

B e t
c ude
Octobe
futu es
we e
quoted
at
$88.81
pe
ba el
o
the
I te co ti e tal
Excha ge
afte
Is ael
esumed
attacks
o
Leba o .

Highe
c ude
p ices
emai
a
impo ta t
va iable
fo
I dia
ma kets
as
i vesto s
assess
thei
pote tial
implicatio s
fo
i flatio ,
the
upee
a d
co po ate
ea i gs.

Gold,
Silve
Gai

P ecious
metals
t aded
highe
i
ea ly
deals.

Gold
futu es
adva ced
0.55
pe
ce t,
while
silve
futu es
gai ed
1.07
pe
ce t,
eflecti g
co ti ued
dema d
fo
the
commodities
amid
geopolitical
a d
mac oeco omic
u ce tai ty.

Ma ket
View:
Nifty
Needs
To
Hold
24,200

Acco di g
to
Sh ika t
Chouha ,
Head
of
Equity
Resea ch
at
Kotak
Secu ities,
I dia
be chma ks
wit essed
p ofit-booki g
at
highe
levels
last
week.
The
Nifty
e ded
the
week
0.83
pe
ce t
lowe ,
while
the
Se sex
lost
a ou d
490
poi ts.

Amo g
secto s,
the
Media
i dex
was
the
st o gest
pe fo me ,
gai i g
mo e
tha
2
pe
ce t,
while
the
Metal
i dex
decli ed
1.8
pe
ce t.

Chouha
said
the
Nifty
has
co ti ued
to
fi d
suppo t
a ou d
its
20-day
Simple
Movi g
Ave age
(SMA)
followi g
the
ece t
co ectio .
Fo
the
Se sex,
he
ide tified
77,600
as
a
impo ta t
level.

“The
sho t-te m
ma ket
outlook
emai s
weak,”
Chouha
said,
while
addi g
that
a
sustai ed
move
above
24,200
fo
the
Nifty
a d
77,500
fo
the
Se sex
could
t igge
a
tech ical
ebou d.

If
these
levels
hold,
the
Nifty
could
move
towa ds
24,500,
while
the
Se sex
could
ta get
78,400.
Fu the
st e gth
could
take
the
i dices
towa ds
24,700
a d
79,000,
espectively,
acco di g
to
the
a alyst.

O
the
dow side,
a
b eak
below
24,200/77,500
could
i te sify
selli g
p essu e,
with
the
Nifty
pote tially
movi g
towa ds
24,000-23,800
a d
the
Se sex
towa ds
76,800-76,200.

Fo
the
Ba k
Nifty,
Chouha
ide tified
57,300
a d
57,000
as
key
suppo t
levels.
A
sustai ed
move
above
these
levels
could
take
the
i dex
towa ds
58,000-58,500,
while
a
b eak
below
57,000
could
ope
the
way
towa ds
56,300-56,000.

He
advised
i vesto s
to
focus
o
select
stocks
i
the
24,300-24,200
Nifty
a ge,
while
expecti g
bullish
co ti uatio
above
the
24,500
level.

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