Market Commentary

Post Market views - March 6, 2023 - Reliance Securities

Posted On : 2023-03-06 18:24:19( TIMEZONE : IST )

Post Market views - March 6, 2023 - Reliance Securities

Mr. Mitul Shah - Head of Research at Reliance Securities.

Indian equities ended higher led by broad-based gains across sectors, ahead of the festival of Holi. Nifty was up 0.7%. Broader markets also ended on a positive note as Nifty Mid Cap and Nifty Small Cap gained 0.9% and 1.1% respectively. All of the sectoral indices ended in green except Nifty Realty (-0.5%) and Nifty PSU Bank (-0.2%). Nifty Oil & Gas was the major gainer which climbed 1.9% followed by Nifty IT and Nifty Auto which were up 1.2% and 1% respectively.

U.S. stocks rallied on Friday as the 10 year bond yield retreated below 4%. All the three indices ended with gains of more than 1%. The S&P 500 gained 1.6%, Dow Jones was up 1.2% while the Nasdaq closed 2.0% higher. The 10-year yield ended at 3.96% vs 4.08% on Thursday. For the week, Dow Jones snapped a four week long losing streak, ending 1.7% higher, S&P 500 was up 1.9% while the Nasdaq closed 2.6% higher.

Indian markets will remain closed tomorrow on account of Holi. In the absence of any major domestic cues, the market will closely track global cues in a truncated week.

Source : Equity Bulls


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