Stock Market Live for 1st July
Stock Market Live: Markets are trading at day’s high
Stock Market Live at 1 pm: The benchmark indices are trading near day’s high. The Nifty and Bank Nifty futures are trading higher at 1.5% and 2.5% respectively. The European markets are opened in a flat note and Asian markets are trading in the mixed today
The market sentiments got positive after the announcement of India’s manufacturing PMI numbers, there is some recovery in June at 47.2% as against 30.8 in May and 27.4 in April. The improvement in PMI manufacturing numbers is due to the relaxation in lockdown in the month of June.
Some positive sentiments also added after the news that the World Bank board has approved USD 750 million emergency funds for the MSME sector in India. This will increase the flow of finance to the MSME sector hit by the coronavirus pandemic.
At,1 pm, the top gainers in the Nifty50 index are Axis Bank, UPL, and HDFC and the losers are NTPC, Nestle, and Cipla. The most active stocks at this time are Bajaj Finance, Reliance, and Axis Bank.
Banking & Finance, Oil & Gas and Electrical sectors are gainers at this hour whereas Healthcare, Infrastructure, and Real Estate are trading lower.
You may like to read, EXPIRY DAY TRADES: BANKNIFTY WEEKLY OPTIONS: 3 TRADE SETUPS FOR EXPIRY DAY TRADES
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Nifty and Bank Nifty futures live recommendations at 10.30
Nifty futures live recommendations
If Nifty futures Moves Above 10328 and sustain. Then you should Buy with 1st Target of 10346 during the day with a Stop Loss of 10244 FOR the Target of 10346- 10374- 10416
If Nifty futures Moves Below 10244 and sustain. Then you should Sell with 1st Target of 10210 during the day with a Stop Loss of 10328. FOR the Target of 10210- 10180- 10156
Bank Nifty futures live recommendations
If Bank Nifty futures Moves Above 21580 and sustain. Then you should Buy with 1st Target of 21620 during the day with a Stop Loss of 21340. FOR the Target of 21620 – 21730- 21776
If Bank Nifty futures Moves Below 21340 and sustained. Then you should Sell with 1st Target of 21240 during the day with a Stop Loss of 21580. FOR the Target of 21240 – 21120- 21020
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The Stock Market Live at 10 am:
Indian stock market opened flat to positive today. The Nifty futures opened at 10266.35, up by 26.1 points whereas the Bank Nifty futures opened at 21190, down by 23.85 points. At present, the Nifty and Bank Nifty futures are trading 0.80% and 1.50% higher.
At 10 am, the gainers in the Nifty50 index are UPL, Axis Bank, and ITC whereas the losers are Kotak Mahindra Bank, NTPC, and Larsen & Toubro. Bajaj Finance, Reliance, and Axis Bank are the most active stock at this time. ONGC is down bu 1.2% reacted negatively after yesterday’s Q4 result announcement.
On a sectoral basis, Banking & Finance, Oil & Gas, and Manufacturing sectors are trading higher at this time whereas Infrastructure, Healthcare, and Power sectors are trading lower.
You may also like to read, Weekly Market Update: Nifty & Bank Nifty share price
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Good morning and welcome to Stock Market Live for 1st July
Stock Market Live for July 1st at 8.30 am: Indian stock market may open in flat to negative today. The SGX Nifty is trading 39 points or 0.38% down whereas other Asian markets are trading mixed today. Nikkei is down by 0.19% whereas Taiwan, Kospi, and Shanghai are trading higher.
Yesterday, the Indian stock market ended flat to negative on June 30th. Markets were uncertain ahead of PM’s speech and traders were also concern about rising cases of coronavirus in India as well the US. So profit booking was seen yesterday after a gap up opening.
The Nifty futures closed at 10240.25 and Bank Nifty futures closed at 21213.85 levels. FIIs are continuously selling in the cash market and that is why we are not seeing any up move in recent days. On June 30th FIIs sold 2000.08 crores and DIIs bought 2051.31 crores in the cash segment.
The US markets were closed in the positive on June 30th. Dow was up by 0.85% and Nasdaq gained 1.87% yesterday. The European markets were closed in mixed yesterday. FTSE and CAC closed lower 0.90% and 0.19% respectively whereas DAX closed higher at 0.64%
Other news that can influence the stock market today
As per RBI’s data, India’s current account balance recorded a marginal surplus in the January-March end quarter of FY20.
Yesterday, Fitch has retained its projection of Indian economy -5% in current fiscal but has lowered its earlier forecast for FY21-22 to 8% from 9.5%
India’s output of eight-core sectors contracted by 23.4% on an MoM basis in May as compared to April’s 37% decline. This signal that the country is gradually limping back to normalcy after a lockdown.
Auto sales figures and PMI Manufacturing data are expected today during the market.
You can visit at 10 am for more Stock Market Live updates for 1st July and Nifty and Bank Nifty futures recommendations
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