Indices erase gains to end flat but Nifty holds 9,900; auto, banks drag

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9:01 AM

Nifty outlook

 

Intraday support for Nifty is seen at 9,840 while resistance at 9,945, says Vaishali Parekh of Prabhudas Lilladher. READ MORE HERE  

9:00 AM

Technical check on the markets

 

Nifty closed again in the positive territory as anticipated after forming a “morning star reversal” candlestick pattern. Now, on the upside the Nifty is close to achieve a minimum of 50% retracement target i.e. 9912 levels and above that 9965 which is 61.8% retracement of the entire recent fall from 10137 to 9685 levels. The fall is likely to be a corrective one and this week is expected to be a positive weekly close which will further confirm the same

 

Source: Anand Rathi Research

8:59 AM

Technical calls 

 

Devangshu Datta on Nifty, Bank Nifty, PowerGrid, Tech Mahindra and Ambuja Cements. CLICK HERE TO READ MORE 

8:56 AM

RBI minutes

 

The Reserve Bank of India's monetary policy committee (MPC) members said easing consumer inflation had supported the need for a rate cut at its August meeting, but warned prices could start accelerating, minutes showed on Wednesday. READ FULL REPORT HERE

8:56 AM

Fed minutes of meet

 

Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for halting interest rate hikes until it was clear the trend was transitory, according to the minutes of the US central bank's last policy meeting.

 

The readout of the July 25-26 meeting, released on Wednesday, also indicated the Fed was poised to begin reducing its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities.

8:49 AM

Asian markets

Asian stocks edged up on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3% in early trade. Japan's Nikkei slipped 0.1%, weighed down by the yen's strength. South Korean shares advanced 0.1% after the leaders of both North Korea and the United States appeared to back off from their heated rhetoric from last week.

8:47 AM

Wall Street on Wednesday

 

US stocks ended slightly firmer on Wednesday but off the day's highs as worries mounted over President Donald Trump's agenda and minutes from the latest Federal Reserve meeting suggested policymakers are worried about weak inflation. 

 

The Dow Jones Industrial Average rose 25.88 points, or 0.12% to end at 22,024.87, the S&P 500 gained 3.5 points, or 0.14% to 2,468.11 and the Nasdaq Composite added 12.10 points, or 0.19% to 6,345.11.

8:46 AM

Singapore Nifty

 

At 8:45 am, the SGX Nifty, Nifty futures listed on Singapore Stock Exchange, was trading at 9,902, down 6 points or 0.06%. 

8:46 AM

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