Daily Markets Wrap - Jan 5, 2023 - HDFC Securities

Mr. Deepak Jasani, Head of Retail Research, HDFC Securities.

Nifty fell for the second consecutive session on Jan 05, though it recovered smartly from intra day lows post 1330 Hrs. At close Nifty was down 0.28% or 50.8 points at 17992.2. Volumes on the NSE are rising gradually as people return to work after holidays. Broad market improved over the previous session with advance decline ratio rising to 0.92:1.Capital Goods, Tyres, FMCG stocks were in demand.

European stocks edged lower on Thursday, snapping a three-day winning streak as minutes from the Federal Reserve's meeting sounded a cautious tone on interest rates. Asian shares rose on Thursday on hopes for China's emergence from the pandemic.

Nifty showed an upward correction within the fall that started in the previous session. This rise could take it 18080-18120 band post which the downtrend could resume.

Source : Equity Bulls

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