Market Bizzz

The US Non-Farm Payroll (NFP) data is expected today, which will influence rate cut expectations by the Federal Reserve. The dollar index fell 0.2% to a three-week low and touched 104.95 due to pressures from the euro and the British pound.

A total of 46.18 lakh shares of Cigniti were sold by Kukunuru Madhava Lakshmi, Kukunuru Kumar Bapuji, Sapna and Chakkilam at the same price. Shares of Cigniti Technologies fell 1.28 per cent to close at Rs 1,367.20 per piece on the NSE.

The FTSE 250 index reached a two-year high and experienced its best week since January 22, boosted by investor enthusiasm for Keir Starmer’s ambitious plan to build 1.5 million new homes in the UK. British homebuilding companies led the gains on the FTSE 100 as the index inched closer to the 21,000 mark.

Sensex and Nifty reach records; globally positive. Persistent Systems rose 3.63%, RSI strong, support at 4500/4400. Mazagon Dock up 20%, targets 5200-5500, support 4000, RSI bullish, Higher High, Higher Low trend. Orient Cement rose 0.082%; needs 320 breakout for 350, support 290-280. Avdhut Bagkar of StoxBox recommends actions.

Zydus Life’s US business is going to report a good set of numbers. Also, in India, wellness products are doing good, Overall Zydus Life will tend to report some 25% EBITDA margin. Therefore, Sharekhan By BNP Paribas has a buy call on Zydus Life with a price target of almost Rs 1200, says Foram Parekh

Oil prices stabilized in Asian trade, set for a fourth week of gains amid strong U.S. summer demand and supply concerns. Brent and WTI prices rose. Russia’s Rosneft and Lukoil to cut July exports. Saudi Aramco lowered Asian prices. Sentiment boosted by geopolitical tensions, a 12.2 million barrels draw, potential Fed rate cuts, and the Gaza conflict.

YES Bank shares consolidated below Rs 25 resistance, trending downwards with support at Rs 23. Expectation of range-bound trading between Rs 23-25; breakout above Rs 25 could target Rs 27.50 and Rs 28.

Investors rejoice as companies like Piramal Enterprises and Thermax unveil thrilling dividend announcements, promising substantial returns. With the record date fast approaching on July 5, shareholders are on the edge of their seats, eager to seize the opportunity and maximize their gains in the dynamic market environment.

Basically, because it is such a large part of the Bank Nifty, it is pulling the Bank Nifty up and all the others are kind of following in sympathy. But I am glad it is finally happening.

A total of 628 shares changed hands on the counter till 12:23PM (IST)