Share Markets Wobble On Hormuz Deal Hopes, Sensex Over 78,500, GIFT Nifty Signals Uncertainty

I dia
equity
be chma ks
wit essed
a
muted
sta t
o
Mo day
as
i vesto s
weighed
u ce tai ty
ove
a
possible
ag eeme t
betwee
the
U ited
States
a d
I a
to
eope
the
St ait
of
Ho muz,
eve
as
Asia
ma kets
t acked
gai s
o
Wall
St eet.

The
BSE
Se sex
climbed
me ely
60
poi ts
a d
sta ted
the
sessio
above
78,550,
while
the
NSE
Nifty50
stood
almost
u de
24,600,
i chi g
up
about
14
poi ts,
a ou d
9:16
AM.

GIFT
Nifty
Sig als
Flat
Ope i g

The
GIFT
Nifty
poi ted
to
a
la gely
steady
ope i g
fo
domestic
equities.
The
futu es
we e
quoted
at
24,655,
i dicati g
little
moveme t
f om
the
p evious
sessio .

At
a ou d
9:05
AM,
the
Se sex
was
t adi g
at
78,571.31,
up
72.14
poi ts,
o
0.09
pe
ce t,
while
the
Nifty
stood
at
24,575,
highe
by
4.15
poi ts,
o
0.02
pe
ce t.

I vesto s
a e
likely
to
emai
focused
o
developme ts
a ou d
the
St ait
of
Ho muz,
pa ticula ly
as
u ce tai ty
pe sists
ove
a
pote tial
ag eeme t
betwee
Washi gto
a d
Teh a .

Asia
Ma kets
Rise,
T ack
Wall
St eet
Gai s

Most
Asia
ma kets
t aded
highe
i
ea ly
deals
o
Mo day,
followi g
gai s
ac oss
US
equities
i
the
p evious
week.

Japa ‘s
Nikkei
225
adva ced
1.46
pe
ce t,
while
South
Ko ea’s
Kospi
gai ed
0.65
pe
ce t.

O
F iday,
the
Dow
Jo es
I dust ial
Ave age
closed
0.28
pe
ce t
highe ,
while
the
S&P
500
gai ed
0.62
pe
ce t.
The
Nasdaq
Composite
e ded
the
sessio
1.30
pe
ce t
highe .

Also
Read
:

Ba k
Holidays
This
Week
(August
10-16):
SBI,
HDFC,
ICICI,
PNB
To
Remai
Closed
O
These
Days

Oil
P ices
Rise
Amid
Ho muz
U ce tai ty

C ude
oil
p ices
moved
highe
as
i vesto s
assessed
the
possibility
of
a
ag eeme t
betwee
the
US
a d
I a
ove
the
st ategically
impo ta t
wate way.

I a
said
it
was
i
the
fi al
stages
of
co cludi g
a
deal
with
Oma
to
ma age
the
St ait
of
Ho muz.
Howeve ,
the
wate way
would
o ly
be
eope ed
if
the
US
fulfils
additio al
co ditio s,
keepi g
u ce tai ty
a ou d
e e gy
supplies
i tact.

The
August
c ude
futu es
we e
quoted
at
$84.75
pe
ba el,
up
1.44
pe
ce t.

Gold,
Silve
T ade
Lowe

P ecious
metals
moved
lowe
i
ea ly
t ade.

Gold
futu es
decli ed
0.53
pe
ce t,
while
silve
futu es
we e
dow
0.19
pe
ce t.

What
To
Expect
I
I dia
Ma kets
Today

Acco di g
to
Sh ika t
Chouha ,
Head
of
Equity
Resea ch
at
Kotak
Secu ities,
I dia
be chma k
i dices
emai ed
a ge-bou d
last
week,
although
both
the
Nifty
a d
Se sex
e ded
highe .

The
Nifty
gai ed
0.77
pe
ce t,
while
the
Se sex
ose
a ou d
400
poi ts
du i g
the
week.
Amo g
secto s,
PSU
Ba ks
a d
Defe ce
outpe fo med,
gai i g
a ou d
5
pe
ce t
a d
4
pe
ce t,
espectively.
The
Media
i dex
was
the
biggest
lagga d,
decli i g
4
pe
ce t.

Chouha
oted
that
the
ma ket
bega
the
week
with
a
gap-up
ope i g
but
subseque tly
wit essed
p ofit
booki g
at
highe
levels.

Also
Read
:& bsp;100%
US
Ta iff
Th eat:
I dia’s
Expo te s
B ace
Fo
F esh
T ade
Shock
Ove
Russia
Oil

Nifty
Faces
Key
Resista ce
At
24,800

F om
a
tech ical
pe spective,
Chouha
said
the
Nifty
fo med
a
Doji
ca dlestick
patte
o
the
weekly
cha t,
i dicati g
u ce tai ty
betwee
buye s
a d
selle s.
The
i dex
has
also
emai ed
a ge-bou d
o
i t aday
cha ts.

He
said
the
sho t-te m
outlook
emai s
positive,
but
a
f esh
upwa d
move
would
equi e
the
Nifty
to
decisively
c oss
the
24,800
level,
with
the
co espo di g
Se sex
level
at
79,400.

A
sustai ed
move
above
these
levels
could
take
the
Nifty
towa ds
25,000
a d
the
Se sex
towa ds
80,200,
acco di g
to
Chouha .

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