Post Market views - March 30, 2022 - Reliance Securities

Mr Mitul Shah, Head Of Research at Reliance Securities.

Domestic equities closed higher following positive global cues, as progress in Russia-Ukraine peace-talks improved the market sentiment. However, inflationary pressures in the U.S economy continue to pose a threat with FED gearing up for a more aggressive monetary policy tightening. Nifty gained 0.88%. Nifty MidCap and Nifty SmallCap were up 0.83% and 0.87% respectively. Most sectoral indices ended in green except Nifty Pharma (-0.2%) and Nifty Metal (-2.24%). Nifty Media increased the most at 2.13% followed by Nifty Fin Service which popped 1.92%.

U.S equities extended gains and closed higher as Russia-Ukraine peace talks reinstated optimism among investors. Moscow pulled away some troops and cut down military activity around Kyiv. Moreover, decline in commodity and crude oil prices, bolstered the rally. The Dow Jones Industrial Average rose 1%. The S&P 500 index jumped 1.2% while the tech-heavy Nasdaq Composite increased 1.8%. The 10-year Treasury yield declined 8 basis points to 2.4%. U.S. crude dipped 1.6% to $104.24 per barrel.

The Russia-Ukraine conflict and inflationary pressures continue to keep the markets wavered. Additionally, volatile global crude prices are disrupting shipping and air freight. While the world still awaits the resolution of Russia-Ukraine crisis, over the near-term, devastation due to the war and sanctions on Russian products would have high negative bearings on global and Indian equities.

Source : Equity Bulls

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