Daily Markets - June 10, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Indian equity markets rose in last half hour of trade to close near intraday highs after a range-bound day on June 10. The NSE Nifty 50 ended with gains of 0.7% at 10,116, 30 points off the day's high. Volumes on the NSE were lower than the recent average with Financials leading the charge and Aviation, Auto and Materials stocks underperforming.

Asian equities were mixed Tuesday as optimism over the reopening of economies was offset by profit-taking following a long rally across markets.

European stocks gave up early gains on Wednesday, as investors looked ahead to comments by Federal Reserve Chairman Jerome Powell later and the central bank's economic forecasts. On the data front, French industrial production plunged in April, while China's factory-gate prices fell deeper into deflation in May.

Technically the Nifty remains in the 10035-10175 band. A move either way will decide the near term direction of the market.

Source : Equity Bulls

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