Daily Market Commentary - 1st June 2022 - Bonanza Portfolio

Mr. Vishal Wagh, Research Head, BONANZA PORTFOLIO LTD

The market opens on a positive note with Nifty around 16,600. At the time of closing, benchmark indices ended in the red for the second consecutive day as Sensex slipped 185.24 points or 0.33% at 55381.17, and the Nifty shed 61.70 points or 0.37% at 16522.80. During the day, Oil prices rose in early Asian trades after European Union leaders agreed to a partial and phased ban on Russian oil and China ended its COVID-19 lockdown in Shanghai.

The rupee opens at 77.58 per US dollar. GST collections for the month of May are likely to be Rs. 1.40 lakh crores. Most of the commodity facing sectors will see margin pressure in Q1. On the sectoral front, pharma, power, and realty were the top losers while buying was seen in financials and capital goods names.

Nifty 50 top gainers are JSW Steel, Coal India, HDFC Life, Kotak Bank & M & M & M&M. While Bajaj Auto, Apollo Hospital, Hindalco, TechM & Bajaj Fin Services were among the top losers.

Source : Equity Bulls

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DailyMarketCommentary BonanzaPortfolio Nifty Sensex