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Global markets gained after Trump eased Fed fears; Nasdaq hit a new high. Indian markets remained flat as Nifty formed a Doji. Sectoral gains, easing inflation, and cautious sentiment shaped the session.
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Global equities ended on a positive note as investor sentiment improved after President Donald Trump denied rumors of removing Fed Chair Jerome Powell. This statement eased concerns over policy instability, giving a push to US equities. The Nasdaq hit a fresh record high, while Treasury yields slipped and gold prices rose by 0.6%. Crude oil remained steady, and the Dollar Index hovered near 98.5.
Dow Jones: +0.5%
S&P 500: +0.3%
Nasdaq: +0.3% (New High)
Sector-wise, gains were led by healthcare, while energy underperformed.
In Asia, markets opened cautiously. Indices in Japan and South Korea edged slightly lower, reflecting mixed global cues and investor caution ahead of earnings and macro data.
Also Read: FMCG Sector Outlook in Monsoon: Riding the Rural Demand Wave
Indian indices ended flat in a range-bound session on July 16, with the Nifty forming a Doji candle, signaling market consolidation.
Sensex: +63.57 pts (0.08%) at 82,634.48
Nifty: +16.25 pts (0.06%) at 25,212.05
Broader markets saw modest traction, with Midcap and Smallcap indices recording marginal gains.
Top performing sectors: Realty, Auto, FMCG, IT, PSU Bank, and Media (+0.5% to 1.8%)
Lagging sector: Metal (-0.6%)
Sentiment saw a slight boost as India’s inflation continued to ease for the eighth consecutive month. However, global concerns—like a 50% copper tariff and persistent inflation—clouded the outlook for a near-term US Fed rate cut.
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The Nifty formed a Doji candle with upper and lower wicks, reflecting indecision and consolidation. It has retraced just 50% of its prior rally—indicating a shallow correction and a higher base at 25,000.
Key Resistance: 25,255 (20-day EMA). A breakout may push the index towards 25,350–25,600.
Key Support: 25,000. If breached, watch for 24,900–25,100 levels.
Intraday Levels for Nifty
Resistance: 25,260 & 25,350
Support: 25,120 & 25,050
Bank Nifty remains in consolidation mode with resistance seen at 57,430–57,600 and support at 56,700–56,930. A break above 57,600 could trigger bullish momentum, while a drop below 56,700 may invite weakness.
Intraday Levels for Bank Nifty
Resistance: 57,430 & 57,600
Support: 56,930 & 56,700
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