Stocks Buzz

Indian Equity Summary-   ·         Expected faster recovery in the rural markets on the back of government subsidies, and above average monsoon and indicative strong tractor Ø sales along with strong global buoyed the domestic equity market sentiment. The domestic benchmark Indices Nifty 50 and Sensex moved higher by ~2.16%/2.42% on a WoW basis , where the top performing sectoral indices on WoW basis includes BSE Power ,BSE IT and BSE FMCG that rose by 4.64%, 4.03% and 3.64% respectively.   ·         Going forward, global factors like development on the US -China relationship front , any resurgence of Covid-19 cases globally, as economies Ø have started opening up ; will continue to dictate the trend of the domestic equity market. We expect the trading range for Nifty between 10400-10,800 in the near term. Indian Debt Market-   ·         Government bond pri...

Indian Equity Summary-   ·          The domestic equity market closed in green on WoW basis as the benchmark indices Nifty/Sensex closed in positive by 1.4%/1.3% respectively. Ø IMF updated its GDP growth forecast for India, and expects during the year, India's economy will contract by 4.5 percent, though in FY22 it is expected to grow by 6%. Negative sentiments like border tension between India and China along with rising Covid- 19 cases may cause intermediate volatility. Above normal expected monsoon will bode well for the Khariff crops. With no fresh talks for further Lockdowns soothed investors' sentiment as well as the business sector , as hint of recovery have already been witnessed in Unlock 1 and going forward Unlock 2.0 hopefully will provide further support .   ·          Going forward, global factors like development on the US -China relationship front , any resurgence of Covid-1...

Indian Equity Summary- ·  Tracking positive cues from global markets, domestic benchmark indices Nifty 50 and Sensex closed in green and rose by 2.72% and 2.81% on Ø  a WoW basis, albeit, the concerns of rising coronavirus cases in India and geopolitical tensions between India and China.   ·  The top performing sectoral indices on WoW basis were BSE Realty and BSE Bankex that rose by 3.70% and 3.17% WoW while the worst Ø  performing index was BSE FMCG that fell by 1.22% WoW.   ·  Going forward, global factors like development on the US -China relationship front , any resurgence of Covid-19 cases globally, as economies Ø  have started opening up will continue to dictate the trend of the domestic equity market. We expect the trading range for Nifty between 10,000-10,500 in the near term. Indian Debt Market-   ·  Government bond prices fell as the yield on the latest 10-year benchmark 5.79% 2030 paper settled at 5.85% on Jun 1...