The market is looking under pressure before August future-contract Expiry. Both benchmark indices dipped 0.5%. Nifty touched 11753.2 level, while SENSEX managed to touch 38989.65 level on today trading session. However, Nifty closed below 11700 while SENSEX closed near 38700.
The activity in the mid-cap stocks remained high, but pressure has seen in small-cap stocks. Nifty midcap 100 index gained 0.5%. Bank Nifty dropped 0.15%, closed at 28224 level.
Gold got support due to weak INR. At MCX Gold is trading with a 0.25% gain while Silver is weak. Aluminum price moved 0.25% up, while copper is trading with weakness at MCX.
In Agri Commodities, Bumper production of wheat is creating difficulties. In Punjab, 50 lakh tonnes of wheat has been kept in the open. At the same time, the FCI has sought approval for sending wheat to other states.
Advice for Commodities
Buy Natural Gas (September Future) at 200.
Buy Nickel (September Future) at 945.