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August 3, 2021

The BSE zoomed to 872 points in the intra-day deals and hit a record high level of 53,823 on the BSE The broader Nifty50, meanwhile, hit new peak of 16,146 on the NSE. It ended with 241 points, or 1.55 per cent, gains at 16,125 levels.

On the UP side: Titan Company (up 4 per cent), HDFC, IndusInd Bank, Sun Pharma, SBI, and Nestle India

On the downside- Bajaj Auto Ltd, Tata Steel Ltd, NTPC Ltd, Indus Towers Ltd, Indiabulls Housing Finance Ltd, Vedanta Ltd, UPL Ltd.

Tech View:- Sustaining above 16000 is the key factor from a short-term perspective, maintaining above this level is important for market to reach 16200. The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook.

European & USA markets:
@ IST 4.15 European markets were trading with a Positive note. Germany’s DAX trading in Green 0.16 %, France’s CAC40 index UP by 0.97 % and England’s FTSE100 index UP by 0.34 %.
Where; wall street @ IST 4.15, The DOW future contract trading in Green 157 points, or 0.46%, S&P 500 Future traded high @ 16.25 points, or 0.38%, and where Nasdaq100 future trading Positive 22.75 points, or 0.14%.

Global News Analysis:

U.S-. manufacturing activity grew at a slower pace in July for the second straight month as raw material shortages persisted, though there are signs of some easing in supply-chain bottlenecks.
South Korea’s- consumer inflation accelerated in July, staying at a nine-year peak marked in May, as hot weather conditions lifted prices of fresh food, while oil products and housing rental and other services costs continued rising
US – High-frequency data indicate U.S. hiring slowed in July – not held steady as widely expected – with particular softness among states that ended federal unemployment benefits and areas where the COVID-19 Delta variant is raging