Daily Markets Wrap - Dec 20, 2022 - HDFC Securities

Mr. Deepak Jasani, Head of Retail Research, HDFC Securities.

Nifty closed marginally in the negative after recovering sharply from the morning lows on Dec 20. Nifty recovered post noon after the negative effect of the unexpected hawkish move by Bank of Japan to widen the band of long term yields, withered off. Nifty closed 0.19% or 35.2 points lower at 18385.3.

Global markets fell after the Bank of Japan unexpectedly changed its ultra-dovish stance and tweaked its bond yield controls - a move that will allow long-term interest rates to rise more.

Low market volumes have led to higher intra day volatility in the markets. Nifty could now remain in the 18269-18441 band in the near term and a breach of this band could result in accelerated move in that direction.

Source : Equity Bulls

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