Daily Markets - July 23, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Indian equity indices resumed gains after breaking a five-day winning streak on Wednesday. The weekly options expiry day ended at the day's high. The NSE Nifty 50 index ended nearly 82.9 points or 0.71% higher at 11,215.5.

Volumes on the NSE were average with Pharma, Auto, PSU Bank and Realty being the top gainers while IT index ended minorly in the negative.

Shares were mixed in Asia on Thursday, with the region's biggest market in Tokyo closed for a four-day weekend. The latest flare-up in tensions between Washington and Beijing may have swayed investors in Asia.

South Korea reported that its economy contracted 3.3% in April-June after shrinking 1.3% in the first quarter. In annual terms, the economy contracted at a 2.9% pace. Its exports fell 16.6.

European stocks were up on Thursday as hopes for another round of government stimulus for the virus-stricken U.S. economy coupled with upbeat earning updates from the likes of Daimler and Unilever helped investors look past an escalation in Sino-U.S. tensions.

Indian markets have continued their upmove with fresh listed Rossari Biotech closing ~75% higher.

Source : Equity Bulls

Keywords