The benchmark indices
ended at their record highs on Thursday on expiry of July Futures and Options (F&O) contracts.
The S&P BSE Sensex
that breached 37,000 mark for the first time ever to hit an intra-day high of 37,027 levels, ended a tad lower at 36,985 levels, up 126 points. The broader Nifty50 index settled at 11,167, up 35 points. The 50-share index had surged to a high of 11,185 levels in intra-day deals.
Analysts at HDFC Securities expect the Nifty
to move higher in the August series. Investors, who were shunning small-cap stocks
on fears that the Index may fall, they say, are now likely to be more confident of the moves of the broader indices
and start investing in the small-and mid-cap stocks.
"Once the Nifty
closes above the 11,171 mark, expect this to become the new support level for the index. The next resistance could come in at 11395 – 11,400 levels, a 100% extension level of swing seen from 9,952 (bottom of March 23) to 10,929 (top of May 15) and from 10,929 to 10,417 (bottom of May 23)," said V K Sharma, Head Private Client Group & Capital Market Strategy at HDFC Securities in an exclusive note. READ MORE HERE
MARUTI Q1FY19 DISAPPOINTS
Among individual stocks, Maruti Suzuki India (MSIL) closed around 4% lower to at Rs 9,390 on the NSE, after the company reported lower-than-expected 26.9% growth in net profit at Rs 19.75 billion in June
quarter (Q1FY19). The country’s largest car maker had profit of Rs 15.56 billion in year ago quarter.
edged higher on Thursday, taking comfort from gains on Wall Street after US President Donald Trump and European Commission President Jean-Claude Juncker agreed to work towards eliminating trade barriers on industrial goods.
MSCI’s broadest index of Asia-Pacific shares
outside Japan was up 0.2 per cent while Japan's Nikkei stock index was 0.2 per cent lower.
(with Reuters inputs)