NIFTY (-205, 25150)
Sensex (-690, 82500)
Bank Nifty (-201, 55755)
Nifty dives as President Donald Trump’s latest barrage of tariff threats dent investors sentiments
Nifty bulls received fresh drubbing amidst:
1) Trump’s Canada tariff threat.
2) Trump tariff uncertainties’
3) Hawkish remarks from the Fed’s Musalem.
4) Concerns of a lacklustre earnings season, following IT giant Tata Consultancy Services’ weak quarterly show and disappointing commentary.
5) Additionally, sea of red at global stock markets.
Bottom-line: The bears were everywhere!
SECTOR GAINERS:
NIFTY PHARMA (+0.68%)
NIFTY FMCG (+0.51%)
NIFTY HEALTHCARE (+0.07%)
SECTORS LOSERS
NIFTY IT (-1.78%)
NIFTY AUTO (-1.77%)
NIFTY MEDIA (-1.60%)
TODAY’S MARKET RE-CAP:
1) Nifty ends the day and the week on a negative footing as all eyes on Nifty’s psychological 25000 mark.
2) Bank Nifty too slips joining the conga-line of sliding theme at the broader markets. Bank Nifty’s new all-time-high continues to be at 57628.40 mark
3) India VIX continues to be depressed at 11.87 levels.
4) The market breadth (12:38) was clearly in favor of bears.
5) The Nifty Mid-cap (-1.30%) and Nifty Small-cap (-1.12%) indices ended with minor cuts.
6) Among sectoral indices, maximum sluggishness was witnessed in Nifty IT (-1.92%) followed by Nifty AUTO (-1.88%) and then MEDIA (-1.84%) but that said, buying was witnessed in Nifty PHARMA (+0.66%), and NIFTY FMCG (+0.53%).
Bottom-line: The return of risk!
STOCK ALERT:
1) Glenmark Pharma (+13.5%) soars on AbbVie licensing deal for cancer therapy ISB 2001.
Glenmark Pharmaceuticals’ subsidiary Ichnos Glenmark Innovation (IGI) unveiled a global commercialization strategy for its lead investigational oncology asset, ISB 2001.
2) TCS stock price plummets 3.76% after its June quarter earnings fail to enthuse investors.
BUZZING STOCKS FOR THE DAY:
🚀 Top Nifty Gainers
HUL (+4.63%)
SBILIFE (+1.37%)
SUNPHARMA (+0.71%)
INDUSINDBNK (+0.64%)
AXISBANK (+0.63%)
📉 Top Nifty Losers
TCS (-3.47%)
M&M (-2.92%)
HEROMOTOCORP (-2.74%)
WIPRO (-2.62%)
BAJAJ AUTO (-2.54%)
Adv-Dec 12—38
INDIA VIX 11.81 (+1.20%)
NIFTY PCR (17th July) 0.55
NIFTY PCR (31st July) 1.11
USD/INR Futures (July) (+0.11%, 85.86)
OUR VIEW FOR MONDAY’S TRADE
A bearish candle is being formed on the daily charts of Nifty and Bank Nifty’s indicating more pain in near term.
Technically, the biggest interweek support for Nifty will be at 25000 (low as on June 24th).
Confirmation of strength only above 25670 mark.
ALL ABOUT NIFTY:
Nifty (CMP: 25150)
Support: 25000/24871
Resistance: 25355/25501
Range: 25022-25267
21 DMA: 25239
50 DMA: 24955
200 DMA: 24088
Trend: Negative
BULLISH LOOKING STOCKS:
GLENMARK
HUL
NATIONALUM
BULLISH LOOKING STOCKS (LONG TERM):
ALIVUS
SUZLON
GULF OIL
BEARISH LOOKING STOCKS:
BSE
L&T
RELIANCE
STOCKS TO AVOID:
TCS
DMART
INFY
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