Divi’s Lab, L&T, Tata Steel, HDFC and HDFC Bank have been the highest gainers on the NSE Nifty 50 index. Bajaj Finance, Tata Consumer, Asian Paints, Tata Motors and Power Grid have been the most important laggards.

On Thursday, each the home indices, NSE Nifty 50 and Sensex, ended the day in unfavourable territory. The Nifty 50 settled under 18,800, falling 85 factors to succeed in 18,771. Meanwhile, Sensex concluded at 63,238, tanking 0.45%.

India’s exports and imports of natural and inorganic chemical compounds recovered modestly month-on-month in May 2023, however remained considerably decrease on-year. Exports fell 12.7% on-year (albeit up 4.4% MoM), whereas imports decreased 20.3% on-year (up 9.8% MoM) in USD phrases.

“In terms of price levels, not much has changed, and the immediate support zone remains at 18,700 – 18,600. On the upside, 18,940 – 19,000 can be considered as immediate resistance for the weekly expiry session.”

– Sameet Chavan, Head Research, Technical and Derivatives, Angel One

“Aggressive put writing & huge OI observed in the strike of 18,800 may provide support for Nifty in the 18,760-18,800 zone. Overall performance from major sectors is holding the grip on a rotational basis. We expect benchmark indices to test a new high this week.”

– Om Mehra, Equity Research Analyst, Choice Broking

“Late monsoons have sparked worries among traders as this could be a sign of increased retail inflation which eased in May to a 25-month low of 4.25%. Delayed sowing in key agricultural regions of Central India is likely to impact yield. As of 21st June, the monsoon is 33% below normal. However, the IMD has indicated that the Southwest monsoon is expected to revive and progress further in the coming days.”

– Mitul Shah, Head of Research, Reliance Securities

Support: 18,840 – 18,790 – 18,730
Resistance: 18,887 – 19,000 – 19,100

In his testimony to the US Congress, Federal Reserve Chair Jerome Powell mentioned the battle to decrease inflation nonetheless has a “long way” to go, suggesting additional motion from the US Fed. His hawkish stance spooked the US markets, which ended decrease on Wednesday.