BSE Sensex and NSE Nifty 50 ended the June month 5 per cent down, and April-June quarter 9.4 per cent decrease. BSE Sensex fell 8 factors to finish at 53,019, whereas Nifty 50 ended at 15780, down 19 factors on Thursday, a day of weekly and month-to-month F&O expiry day. Tech Mahindra, IndusInd Bank, Bajaj Finance, Tata Steel, Bajaj Finserv, HCL Tech, M&M, HDFC have been amongst prime index draggers. On the flip aspect, Axis Bank, State Bank of India (SBI), Kotak Mahindra Bank, NTPC, ICICI Bank, Reliance Industries Ltd, L&T have been amongst prime BSE Sensex gainers. On the sectoral entrance, Nifty Bank index jumped half a per cent to finish at 33,425.10 ranges.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd
Markets languished in unfavorable territory for many a part of the buying and selling periods and eventually ended flat on the expiry day. The undertone stays bearish as a consequence of weak international cues and protracted overseas fund outflows. There is a lot uncertainty that merchants don’t wish to threat inserting large bullish bets. Technically, from the final three days the market has been witnessing non directional exercise. For Nifty, 15700 may very well be the important thing help stage and 15900 would act as an necessary resistance zone. On additional decline, the index may fall to 15600-15550 ranges. Any recent uptrend is feasible solely after the index sees 15900 breakout and above the identical it may transfer as much as 16000-16050.
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Share Market LIVE: Sensex risky, Nifty provides up 15800 on month-to-month F&O expiry day; Reliance, Kotak Bank acquire
Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty ended marginally within the unfavorable on F&O expiry day, month finish and quarter finish day on June 30. Most international markets fell once more Thursday as merchants concern that hefty fee hikes to rein in hovering inflation will spark a recession. Global shares sank on Thursday to increase what’s the worst first half of the yr for international share costs on file, as traders fear that the most recent present of central financial institution dedication to tame inflation will gradual economies quickly. Nifty ended 5% decrease for the month and 9.4% decrease for the quarter at the same time as FPIs proceed to be sellers on nearly all days. It closed on the lowest in 4 days on June 30, as soon as once more failing to carry on to good points. 15565-15892 may very well be the band for the Nifty over the subsequent few days.
Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities
The Nifty index is caught in a sideways development the place the instant help is positioned at 15,700 and resistance is at 15,900 stage. The index as soon as breaches the extent of 15,900 on the upside will see sharp quick masking on the upside in direction of 16,200 ranges. The lower-end help if damaged can see a fall in direction of 15,500-15,400 zone the place recent put writing has been seen. The struggle between the bears and the bulls continued within the Bank nifty index which led the index closed on a flat notice on the final day of month-to-month expiry. The instant help on the draw back is positioned at 33,200-33,000 zone and the upside resistance is positioned at 34,000 the place a major quantity of name writing has been noticed. The index wants to interrupt out of this vary on both aspect for getting a directional transfer.
Vinod Nair, Head of Research, Geojit Financial Services
Shaking off a weak lead from the worldwide market, home indices recouped its losses backed by banking and power shares. Asian and European markets struggled to regain footing amid international recession fears, resulting in a resurgent US greenback, which benefitted from safe-haven demand. FII promoting nearing exhaustion supplied consolation to the jittery Indian market.
Source: www.financialexpress.com”