Historically, it is seen that Nifty finds it difficult to move up sharply when its Future premium increases. So, more consolidation is expected till this premium doesn't start getting lower.
Gold faced sustained headwinds from another round of record highs in US equities, as well as markets now placing a more than 80 percent probability of a December rate hike by the US Fed.
The Dow fell 0.17 percent to end at 23,422.21, while the S&P 500 slipped 0.09 percent to 2,582.3. The Nasdaq Composite edged up 0.01 percent to 6,750.94.
The tie-up will act as the service bureau for securities markets providing a standardised, cost-effective, robust and secured infrastructure to all market participants, Swift said in a statement today.
The country's largest general insurance firm New India Assurance Company, which recently concluded its initial public offer, will make its stock market debut on Monday.
He urged Corporate India to start hedging in commodities, adding that speculative interest should be permitted in commodity exchanges.
The SEBI move follows the Budget speech given by Finance Minister Arun Jaitely when he mooted the idea of integrating commodity and equity exchanges.
Bulls managed to regain control and took the index to hit an intraday high of 10,344. It closed 12.80 points higher at 10,321.75.
A quick check on what moved the markets today.
PSU Bank (up 4.3 percent) was biggest gainer among sectoral indices, followed by Nifty Bank (up 0.82 percent) after SBI earnings.
Watch the interview of Daniel Hynes, Senior Commodity Strategist at ANZ Research and Juerg Kiener, MD & Chief Investment Officer at Swiss Asia Capital with Manisha Gupta on CNBC-TV18. They spoke about the surge in crude prices and action in other commodities.
State Bank of India which jumped 6.55 percent while Larsen & Toubro was up over 4 percent. ICICI Bank, Hindustan Unilever and Mahindra & Mahindra were the other top Nifty gainers from the Nifty.
The Indian market could end 2017 with gains over 25 percent, compared to a flat 2016, with supportive positive macroeconomic factors.
Recently, a slew of dreaded cyber attacks like WannaCry, Petya and Locky Ransomware have impacted the computer systems worldwide.
53 stocks hit new 52-week high on the NSE including Bank of India, Jet Airways, Britannia Industries, Larsen & Toubro, Mphasis, Tata Global, Tube Investments, Voltas and V-Guard Industries while the most active stocks were Just Dial, Tata Motors, Larsen & Toubro, Aurobindo Pharma and State Bank of India.
Watch the interview of Prathamesh Mallya of Angel Commodities Broking with Manisha Gupta on CNBC-TV18. He spoke about the current trend in commodities markets.
Tushar Pradhan also believes that the next two quarters will be good because of a low base and will set the tone for upcoming fiscal year.
From the Nifty, the stocks that gained the most were Larsen & Toubro which was up close to 2 percent while Lupin gained 1.6 percent. The stocks that hit new 52-week high on NSE included Bank of India, Britannia Industries, Jet Airways, Page Industries, Rain Industries and Tata Global Beverage.
SBI surged nearly 7 percent after fall in slippages that resulted in lower NPA in Q2 compared with Q1.
A quick check on what could trigger the markets today.
Forming a third consecutive lower high and lower low pattern, Nifty settled the session in positive territory. It also implies that selling pressure could intensify only if Nifty fails to sustain above 10,250.
Mitessh Thakkar of miteshthacker.com has a buy on Amar Raja Batteries with a stop loss of Rs 713 for target of Rs 765 and a sell on ITC with a stop loss of Rs 265 for target of Rs 251 and a sell also on ACC with a stop loss of Rs 1774 for target of Rs 1730.
Moon and Rahu are still together today. Divide the whole day in three parts. During the first part from 9.15 to 13.15 Nifty will go up. During the second part till 14.55, Nifty will go down, says Ganesha.
Overnight as US market has a fall because of what has been happening politically and Trump’s Tax reforms getting a bit of a jolt and I think when the mother market sneezes others catch cold and that is what has happened with other markets as well.