A morning walk down Dalal Street | Immediate hurdle for Nifty placed at 11,760-11,777
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The Nifty50 might have closed lower on the August expiry day but it rallied 4.5 percent or a little over 500 points in August series to touch new highs above 11700.
A couple of factors which started weighing on investor sentiment is falling rupee as well as rise in crude oil prices which are a threat to our current account deficit, as well as trade war woes.
Washington has proposed slapping tariffs on a further USD 200 billion worth of Chinese goods after a public comment period ends on Wednesday, September 5, said a Reuters report.
The Indian rupee fell further by 23 paise against the US dollar to trade at a lifetime low of 70.82.
On the macroeconomic front, India likely grew by 7.6 percent in the April-June quarter, a Reuters poll showed.
Forecasts for the USD 2.59 trillion economy ranged between 7 and 8 percent.
The immediate hurdle for the Nifty is placed at 11760-11,777 while supports are placed at 11620-11500 for September series.