Market Performance - Sensex hits a fresh all time high - June 21, 2023 - HDFC Securities

Mr. Devarsh Vakil, Deputy Head - Retail Research, HDFC Securities

Indian markets continued to its upward journey today. Nifty managed to close with the gains of 40 points at 18857, ata fresh akll time high on closing basis. Despite weak global cues ahead of the Congressional testimony of Federal Reserve Chair Jerome Powel, The S&P BSE Sensex managed to hit a record high of 63588 in morning trade. Nifty 50 missed it all time intra day highs by a whisker. From the day's low of 18794, Nifty recovered more than 60 points. Though Nifty is yet to surpass its all time high placed at 18887, though it managed to close at an all time high on closing basis.

Nifty smallcap Index rose for the eighth straight session. However today, Smallcap Index underperformed the Nifty by limiting its gain to 0.04% against Nifty's rise of 0.21%. Advance decline ratio softened from the morning levels but remained above par at 1.01 on BSE.

Nse Cash market volumes were higher as compared to last ten day average. Amongst the sectoral Indices, Nifty Financial services, Media and Oil/Gas gained the most while Metal and FMCG were top losers. The Nifty PSU Bank index has surged by 3.18% in the last four trading sessions.

Above 18887, Nifty could extend its rally towards 19000 level. Support for the Nifty is seen at 18660.

Source : Equity Bulls

Keywords

MarketPerformance AlltimeHigh Sensex HDFCSecurities