Market Commentary

Daily Markets - June 25, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities



Posted On : 2020-06-26 08:15:13( TIMEZONE : IST )

Daily Markets - June 25, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Indian benchmark indices ended marginally lower in a highly volatile session on the Monthly F&O expiry day. At close, the Nifty was down 16.40 points or 0.16% at 10288.90.

Volumes on the NSE were slightly above average with Banks/NBFCs, Auto -2 wheelers and FMCG stocks doing well, while Metals, Oil 7 Gas, IT, Cement shares fell.

Shares slipped in Asia on Thursday after a sharp retreat overnight on Wall Street as new coronavirus cases in the U.S. climbed to their highest level in two months, dimming investors' hopes for a relatively quick economic turnaround.

European stocks swung to positive territory on Thursday after a weak opening, as investors weighed the economic risks of a number of upturns in coronavirus infections. European shares inched higher on Thursday after a survey showed consumer confidence in Germany has improved more than expected. EU-US trade tensions and the IMF's slashing of its forecasts for global growth served to cap the upside to some extent.

Technically, the Nifty is trapped between 10205 to 10362 band. A move either way could decide its near term future direction.

Source : Equity Bulls

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