Market Commentary

Daily Market Commentary - July 4, 2022 - Bonanza Portfolio

Posted On : 2022-07-04 20:24:00( TIMEZONE : IST )

Daily Market Commentary - July 4, 2022 - Bonanza Portfolio

Mr. Vishal Wagh, Research Head, BONANZA PORTFOLIO LTD

Indian indices opened marginally higher today with Nifty around 15800. At the time of closing, indices ended higher in the highly volatile session Sensex was up by 326.84 points or 0.62% at 53,234.77, and Nifty was up by 83.40 points or 0.53% at 15,835.40.

During the day, Asian share markets started cautiously as a run of soft U.S. data suggested downside risks for this week's June payrolls, MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.3%, while Japan's Nikkei added 0.9%. US manufacturing activity slowed more than expected in June, with a measure of new orders contracting for the first time in two years, signs that the economy was cooling amid aggressive monetary policy tightening by the Federal Reserve. Europe stocks steady as eurozone inflation hits record high. The dollar kept trade-sensitive currencies pinned near multi-year lows on Monday and the euro was under pressure as investors sought safety due to worries about slowing global growth. On the sectoral front, FMCG, bank and capital goods indices rose 1% - 2%, while metal index shed 1.5%.

Nifty 50 top gainers are HUL, Britannia Industries, IndusInd Bank, ITC and ICICI Bank while, JSW Steel, ONGC, TCS, Tata Steel and Cipla were among the losers on the index.

Source : Equity Bulls


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