Daily Market Commentary - June 12, 2023 - Bonanza Portfolio

Mr. Rajesh Sinha, Sr. Research Analyst, BONANZA PORTFOLIO LTD

At opening, Sensex was up by 131.76 points or 0.21% at 62,757.39, and the Nifty was up by 37.10 points or 0.20% at 18,600.50. While At closing, Sensex was up by 99.08 points or 0.16% at 62,724.71, and Nifty was up 38.10 points or 0.21% at 18,601.50.

Indian Rupee traded on a flat to positive note on positive domestic markets and a weakness in US Dollar. Weak crude oil prices also supported Rupee. However, FII outflows capped sharp gains. U.S. Dollar declined on rising expectations of a pause in rate hike in June FOMC meeting. This has also led to positive sentiments in global markets.

Gold prices edged lower after registering gains of nearly 0.70 % in the previous week, with spot gold at Commodity exchange trading weak by 0.22 % at $1957 per ounce in the morning session. Investors are avoiding fresh buying and remain cautious before the outcome of key macro data from the US.

Among sectors, capital goods down by 0.5 %, while Information Technology, Metal and Oil & Gas, realty gained 0.5-1 %.

Top gainers on Nifty were BPCL, HCL Technologies, Infosys, NTPC and Adani Enterprises, while losers were Power Grid Corporation, Larsen & Toubro, Cipla, Maruti Suzuki and Titan Company.

Source : Equity Bulls

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DailyMarketCommentary Nifty Sensex BonanzaPortfolio