Donald Trump announced a 50% tariff on Brazilian imports, citing unfair trade practices and prosecution of Jair Bolsonaro.
Additionally, US President Donald Trump has also issued tariff letters to six more countries — Philippines, Brunei, Moldova, Algeria, Iraq and Libya, according to the updates shared on his official social media handle on Wednesday.
Global Stock Market Today
Benchmark Nifty index ended on a flat to negative note at 25476 spot levels after a cut of 46 points from its previous closing values in an otherwise lackluster trading session.
Performance on the broader front was mix as Mid cap index traded inline with the benchmark, whereas Small cap index outperformed the benchmark, rose 0.59%.
Performance on the sectoral front was no different. Nifty Realty, Metal and Oil & Gas index were the top laggards, down over 1% each. On the flip side, FMCG, Consumer Durables and Fin Services ex-bank provided the needed support to the bulls.
Technically, Nifty index is hovering in a narrow range i.e. 25300-25670 spot levels. Going ahead, an either side break from this range will open the floor for next short term directional move in that direction. Intraday supports are placed around 25400-25330 spot levels and resistances are at 25550-25580 spot levels.
Derivatives Overview & Outlook
Yesterday, index futures remained almost unchanged on the price front, whereas on open interest front, Nifty and BankNifty futures added around 3% & 1.5% of open interest respectively.
On the sectoral front, short buildup was seen among Metal, IT and Oil & Gas stocks, on the other hand, long buildup was seen among Capital Goods stocks.
On options front, call writing was seen at multiple strikes. Maximum positions are at 26000 CE followed by 25500 CE and 25400 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 77 Cr in the cash segment, sold stocks futures worth Rs 558 Cr and also sold index futures worth Rs 991 Cr. DIIs were net buyers in the cash segment to the tune of Rs 921 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25650-25765; Supports 25450-25350
Banknifty – Resistances 57500-57750; Supports 57100-56800
Finnifty – Resistances 27235- 27315; Supports 27040-26900
Important Results Today: TCS, TATAELXSI
F&O Security in Ban Today: HINDCOPPER, RBLBANK
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