Nasdaq inched up 0.2%, S & P 500 ended flat while Dow fell 0.4%

U.S. 10-year treasury yield fell 4 bps to 3.907%. Dollar index was flat at 103.13. Gold surged 1.7% to $2472 per ounce.

Oil surged as the Pentagon dispatched more forces to the Middle East in anticipation of an Iranian attack on Israel. WTI crude futures rose 4.2% to $80.06 and Brent futures rose 3.3% to $82.30 per barrel.

In Europe, FTSE rose half a percent, DAX was flat while CAC was down 0.3%.

After starting lower by more than half a percent, benchmark indices recouped most of the losses through the session to end just marginally in the red. Sensex lost 57 points to finish at 79648 while Nifty lost 20 points to finish at 24347. Nifty mid-cap and small-cap indices managed to end higher by 0.3% and 0.2% respectively. Nifty Realty and Consumer Durables indices were the top gainers among the sectoral indices, up 1.3% and 0.9% respectively while Media and PSU Bank indices were the top losers, down 2% and 1.2% respectively.

FIIs net sold stocks and index futures worth Rs 4681 cr and 423 cr respectively but net bought stock futures worth Rs 506 cr. DIIs were net buyers to the tune of Rs 4478 cr.

Rupee depreciated 2 paise to end at 83.97/$.

India's July CPI cooled to near 5-year low at 3.54% from 5.08% in June. Industrial output grew at 4.2% in June, the slowest pace of growth in 5 months.

Today morning, Nikkei is up more than 2% while Hang Seng and Shanghai are little changed. GIFT Nifty is suggesting a modestly lower start for our market.

In yesterday's report we had said that 20-DMA, placed around 24550, was the immediate hurdle while 23893, the bottom made last week, was the important support.

Nifty, after touching a low of 24212, rebounded to end at 24347.

20-DMA, placed around 24550, continues to be immediate hurdle, upon crossover of which, 24686, the upper end of the gap created by gap-down opening on 5th August, would be next upside level/resistance to eye. On the way down, 23893, the bottom made last week, is the important support.

For Banknifty, 49659, the low made last week, is the immediate support, upon breach of which, 48860, the 61.8% retracement level of the upmove seen since the election result day bottom, would be the next downside level to eye. On the way up 21087, the upper end of the gap created by gap-down opening on 5th August, is the immediate hurdle, upon crossover of which, 34-DMA, placed around 21800, would be next upside target/resistance to eye.