Market Commentary

Daily Market Commentary - June 27, 2022 - Bonanza Portfolio

Posted On : 2022-06-27 22:21:55( TIMEZONE : IST )

Daily Market Commentary - June 27, 2022 - Bonanza Portfolio

Mr. Vishal Wagh, Research Head, BONANZA PORTFOLIO LTD

Indian indices opened higher with the Nifty around 15900 on positive global cues. At the time of closing, the Sensex was up 433.30 points or 0.82% at 53,161.28, and the Nifty was up 132.70 points or 0.85% at 15,832.05. During the day, Oil prices slipped more than $1 a barrel as global economic concerns depressed the oil demand outlook.

Investors eyed the G7 meeting this week for possible moves on Russian oil exports and a revival of the Iran nuclear deal. The Reserve Bank of India has approved the re-appointment of Rajiv Anand as the Deputy Managing Director of Axis Bank. The re-appointment will be for a further period of three years. The Indian rupee opened 11 paise higher at 78.23 per dollar against Friday's close of 78.34. Gold prices gained, as news of some Western nations planning to officially ban metal imports from Russia for its invasion of Ukraine sparked some interest in bullion. No rate change is expected in this GST Council meeting. On the sectoral front, all the sectors ended in green led by IT, oil & gas, and metals.

Nifty 50 top gainers are ONGC, CoalIndia, LT, HCLTech & UPL while EicherMot, ApolloHosp, HDFC Life & Kotak bank were among the top losers.

Source : Equity Bulls


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