Stock Market Highlights, July 3: Sensex rises 545 pts, ends near 80,000; HDFC, Axis Bank gain 2%

Stock Market Highlights on July 3: In the broader markets, the BSE MidCap and the BSE SmallCap index rose 0.86 per cent each.

8:17 AM

Gold strategy on July 3: Support at Rs 71,300; Resistance at Rs 72,000

Spot gold rose slightly ahead of the US Fed Chair Powell’s speech at the European Central Bank forum on central banking in Sintra, Portugal. However, the attempt to rise was thwarted once again at the stiff resistance of $2340-$2350 zone as the US Fed Chief continued to maintain a cautious stance on the possibility of rate cuts by the Fed.  

The yellow metal at the time of the MCX closing was changing hands at $2324, down nearly 0.30 per cent on the day, whereas the MCX August gold contract was at Rs 71,570 (LTP), down 0.12 per cent. Read more

8:00 AM

Silver surrenders gain as US Fed Chief remains cautious on rate cuts

Spot silver was buoyant on Tuesday as the metal rallied from the day’s low of $29.20 to $29.82 on softer US yields, the highest level since June 21.

 

The US yields, after a sharp rise in the last two days, corrected lower ahead of the Fed Chair Powell’s speech. However, Powell reiterating his cautious views on the US Fed’s monetary policy and a slightly better than expected US JOLTs openings data sent the metal sharply down from its day’s high.

 

COMEX silver, at the time of the MCX closing, was trading at $29.39, down 0.15 per cent on the day, whereas the MCX September Silver contract at Rs 89,939 was up 0.21per cent. Read more

7:48 AM

Crude Oil, Copper: Check trading strategy, target price and more

Crude oil prices rose on Monday, with WTI Crude futures up 2.3 per cent to $83.38 a barrel. The increase was driven by OPEC's slight production decline in June and China's better-than-expected manufacturing activity. Additionally, geopolitical tensions in the Middle East and Russia, along with a falling dollar, contributed to the price gains. Read more

7:46 AM

Should investors book profits in Nifty PSU, Pvt Bank? Insight from charts

The Nifty PSU Bank Index is currently trading at 7,178.00. The near-term trend on the charts indicates a downward movement. Given this bearish outlook, the most prudent trading strategy would be to sell on any rise in the index's value. The index is expected to find support at the levels of 6,925 and 6,500. Read more

7:44 AM

Market outlook July 03: Gap-up open likely; Vraj Iron, Bank Nifty in focus

Pre-market update for Wednesday, July 03, 2024:The BSE Sensex and the NSE Nifty are likely to start Wednesday’s trading session on an upbeat note tracking gains across global markets.

At 07:00 AM, GIFT Nifty futures quoted around 24,340 levels, indicating a likely gap-up of over 100-odd points on the Nifty 50 index this morning. On the economic data front, focus will be on HSBC Composite and Services data to be announced today. That apart, Bank Nifty will be on traders radar ahead of the weekly expiry.

 

In other news, India Meteorological Department (IMD) said the southwest monsoon covered the entire country six days ahead of its normal date, thus boosting prospects of kharif sowing. Read more

7:37 AM

Gift Nifty indicates gap-up start

The GIFT Nifty futures indicated a gap-up opening, quoting just 120 points higher to Nifty 50 futures at 24,323 levels

7:36 AM

Asian markets largely in green zone

7:34 AM

US markets end with gains on Tuesday

7:30 AM

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