Gold declined on Tuesday as market participants awaited further developments from ongoing U.S.-China trade talks in London, with negotiations extending into a second day.
Spot gold fell 0.5% to $3,311.16 an ounce. U.S. gold futures also fell 0.7% to $3,330.90.
Today, the benchmark indices witnessed range-bound activity. The Nifty ended 100 points higher, while the Sensex was up by 256 points. Among sectors, the Capital Market index was the top gainer, rallying over 2.35 percent, whereas intraday profit booking was seen in selective Defense and Reality stocks. Technically, after a gap-up open, the entire day saw range-bound activity. On daily charts, the index has formed a small candle, suggesting indecisiveness between the bulls and the bears.
We are of the view that 25,000/82000 would act as a sacrosanct support zone for trend-following traders. As long as the market is trading above this level, the uptrend is likely to continue. On the higher side, it could move up to 25,350-25,400/82800-83000. On the flip side, falling below 25,000/82000 would render the uptrend vulnerable.
Despite a strong start, the Index was unable to capitalise on the positive momentum and remained range-bound throughout the day, ultimately closing the session at 25,103.20 with gains of 100.15 points. Except for the Realty sector, all other sectors ended the day in positive territory, with PSU Banks and Energy emerging as the top performers, followed by IT and Metal. The Broader markets extended their streak of outperformance, with both Mid and Smallcap indices advancing by over 1% each.
While the Index has finally broken out of its long consolidation phase, the breakout candle is not very encouraging and signaling a potential reversal.
Tomorrow’s trading activity will be crucial in determining whether the current trend will continue or reverse. The key resistance and support levels are currently placed at 25,220 and 25,000, respectively.
Domestic indices Nifty 50 and Sensex are likely to see a start in the green as indicated by the GIFT Nifty index on June 10, 2025. …Read More
RITES has received Letter of Acceptance (LOA) for construction supervision for the extension of East Bank- East Coast Road Project Phase 2 (Eccles to Providence) including additional work for existing assignment from Ministry of Public Works, the Co-operative Republic of Guyana.
The broad consideration of the order is USD 2,908,824.5.
The U.S. dollar was steady on Tuesday in tight trading as Washington and Beijing remained locked in trade talks that left investors on edge and hesitant in placing major bets while looking ahead to U.S. inflation report later in the week.
The U.S. dollar was little changed against the yen at 144.57 in early trading. The euro last fetched $1.1425 and sterling was 0.1% firmer at $1.3563.
The Australian dollar, often seen as a proxy for risk sentiment, was flat at $0.652, while the New Zealand dollar was a touch firmer at $0.6058, staying close to the seven-month peak it touched last week.
The dollar index, which measures the U.S. currency against six other units, was steady at 98.986, not far from the six-week low it touched last week.
The index is down 8.7% this year as investors flee U.S. assets worried about the impact of tariffs and trade tensions on its economy and growth.
Oil prices edged up on Tuesday as market participants waited for the outcome of U.S.-China talks that could pave the way for easing trade tensions and improve fuel demand.
Brent crude futures edged up 12 cents to $67.16 a barrel. U.S. West Texas Intermediate crude was trading up 13 cents at $65.42, after hitting its highest since April 4 earlier in the session.
On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a U.S.-China trade deal.
Some participants have raised concerns about BSEs fee structure based on liquidity of the stocks, calling it discriminatory against X, XT category of stocks and adding high cost of transactions for investors of such category of shares. BSE denied the allegations and said this practice is there since 2016, to discourage investors from investing in such low liquid stocks….Read More
Markets began the week on a positive note, gaining nearly half a percent, extending Friday’s rally. Following an initial gap-up start, the Nifty traded within a narrow range throughout the session and eventually settled at the 25,103.20 level. Most sectors moved in line with the benchmark and closed higher, with energy, IT, and financials among the top gainers. The broader indices continued to outperform, posting gains in the range of 1.1% to 1.5%.
The up move in the index was largely in line with expectations; however, mixed performance from heavyweights—particularly in the private banking space—limited the momentum.
We maintain our bullish outlook and recommend a focus on selective stock picking during any intermediate consolidation or dip. At the same time, participants should exercise caution, especially in the small- and mid-cap segments, which are currently buoyed by strong domestic flows and sentiment. Emphasis should remain on themes and stocks where the risk-to-reward ratio continues to be favorable.
The U.S. dollar was steady on Tuesday in tight trading as Washington and Beijing remained locked in trade talks that left investors on edge and hesitant in placing major bets while looking ahead to U.S. inflation report later in the week.
The U.S. dollar was little changed against the yen at 144.57 in early trading. The euro last fetched $1.1425 and sterling was 0.1% firmer at $1.3563.
The Australian dollar, often seen as a proxy for risk sentiment, was flat at $0.652, while the New Zealand dollar was a touch firmer at $0.6058, staying close to the seven-month peak it touched last week.
The dollar index, which measures the U.S. currency against six other units, was steady at 98.986, not far from the six-week low it touched last week.
The index is down 8.7% this year as investors flee U.S. assets worried about the impact of tariffs and trade tensions on its economy and growth.
South Asia Growth Fund II Holdings is likely to sell 2.5 crore equity shares (representing 5.5% of the paid-up equity) of the company via block deals, according to sources quoted by CNBC-TV18.
The floor price for the sale may be set at Rs 1,051.50 per share.
According to experts, the underlying trend remains positive. The Nifty 50 is expected to face immediate resistance at 25,200, followed by 25,300, which is the 78.6% Fibonacci retracement level of the 26,277–21,744 move, as long as it holds above the 25,000 support level….Read More
The S&P 500 ended slightly higher on Monday, lifted by Amazon and Alphabet, while investors watched U.S.-China negotiations aimed at mending a trade dispute that has rattled financial markets for much of the year.
Top officials from both countries have kicked off discussions, looking to get back on track with a preliminary trade agreement struck last month that had briefly cooled tensions between the world’s largest economies.
The S&P 500 climbed 0.09% to end the session at 6,005.88 points.
The Nasdaq gained 0.31% to 19,591.24 points, while the Dow Jones Industrial Average ended essentially unchanged at 42,761.76 points.