Daily Markets Wrap - June 13, 2023 - HDFC Securities

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

Nifty rose for the second consecutive session on June 13 aided by positive overnight cues. At close, Nifty was up 0.62% or 114.7 points at 18716.2. Volumes on the NSE were above recent average. Broad market indices rose more than the Nifty even as the advance decline ratio was up at 1.56:1.

Global equities were largely up on Tuesday, taking clue from an upbeat session on Wall Street ahead of key U.S. inflation data that could shape the outlook for Federal Reserve monetary policy. A cut in short-term lending rate for the first time in 10 months by the People's Bank of China (PBOC) helped to prop up risk sentiments.

Nifty rose smartly and closed almost at the intra day high on June 13. It could now face resistance from the 18778-18813 band in the near term while 18634 could offer support.

Source : Equity Bulls

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DailyMarketsWrap HDFCSecurities Nifty Sensex