Daily Markets Wrap - April 6, 2023 - HDFC Securities

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

Nifty ended in the positive on April 06 after a volatile session as the RBI's Monetary Policy Committee decided to keep the benchmark repo rate unchanged. At close, Nifty was up 0.24% or 42.1 points at 17599.2. Broad market indices rose more than the Nifty even as the advance decline ratio was positive at 2.01:1.

Global shares were trading mixed Thursday as investors turned their attention to upcoming earnings reports and other economic indicators.

India's RBI MPC held its benchmark interest rate, or its policy repurchase rate, at 6.50%, defying expectations for a hike of 25 basis points.

On a weekly basis, Nifty closed higher for the second week in a row rising 1.38% over the week. It has built on the gains of the previous week helped by positive global cues. Nifty has closed above the downgap made on March 10 at 17574. Nifty could rise some more towards 17800 over the next few sessions while 17428 could offer support.

Source : Equity Bulls

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