Categories
Daily Reports

Daily Report 3-Jul-23

Indices recorded another 1% gain on major indices as HDFC twins continue to lead market higher, M&M & INFY were among major gainers as IT stocks witness relief rally post INFY AGM.

Wall Street continue to rally on Friday ahead of holiday shorten week in US and major jobs data by end of this week. NASDAQ was up by 1.45% as tech stocks continue to do well.

GIFTNIFTY @ 19365 up 20 points at 8:20 AM

Wall Street continue to rally on Friday ahead of holiday shorten week in US and major jobs data by end of this week.  NASDAQ was up by 1.45% as tech stocks continue to do well.

China’s Caixin PMI continue to show weakness, eased to 50.5 from 50.9 indicate marginal expansion as 50 level mark separates expansion from contraction.

SGX Nifty to trade as GIFT NIFTY from 3-Jul-23, derivative contract with notional value of about $7.5 billion will shift to GIFTNIFTY.

F&O Data: FII added 16333 contracts in index futures, net long position now stands at 72433 contracts.  Net long: short contract now stands at 69.21%:30.79%.

Approach on Indices: Indices in unchartered territory, Nifty @ 19362 & Banknifty @ 44959 could be next target / resistance level and support level on Nifty @ 18932 & Banknifty @ 44253.

GIFTNIFTY @ 19365 up 20 points at 8:20 AM

Click on the attachment to read the full report: