Market Commentary

Daily Markets Wrap - June 7, 2023 - HDFC Securities

Posted On : 2023-06-07 17:18:56( TIMEZONE : IST )

Daily Markets Wrap - June 7, 2023 - HDFC Securities

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

Nifty rose with an upgap on the fourth consecutive session on June 07 helped by positive overnight cues from the US. At close, Nifty was up 0.68% or 127.4 points at 18726.4. Volumes on the NSE were higher than recent average. Broad market indices rose more than the Nifty even as the advance decline ratio rose to 2.05:1.

Global stock markets were mixed on Wednesday as weak Chinese trade data had investors fretting about softening global demand, while at the same time expecting Chinese Govt to undertake measures to stimulate its economy.

Nifty broke out upwards with an upgap with healthy market wide breadth. It could now rise towards 18781-18812 band while 18640 could provide support. The all time high of Nifty (18,888) is within sight.

Source : Equity Bulls


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