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

Indian benchmark indices shrugged off weak cues from Asia and Europe and rose sharply on June 18. At close, the Nifty was up 210.55 points or 2.13% at 10091.70. Indices are registering one day gain one day loss for the past 11 sessions. Volumes on the NSE were below recent average and Metals, PSU, Banks and NBFCs rose while Telecom and Pharma shares dipped.

World shares were mostly weak though nominally as worries over fresh outbreaks of coronavirus infections in the U.S. and elsewhere ate away the hopes for a fast recovery from pandemic shutdowns.

The Australian Government reported that May unemployment in Australia surpassed 7% and would have been above 9% if the figure included people laid off and not officially looking for work.

Technically, the Nifty has closed above 10046 and now seems headed for 10149-10178. On falls, 9943-10046 can provide support.

Source : Equity Bulls

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