IGI Logo

Below Quote Daily Market Analysis 02 June 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets remained range bound for yet another session and ended marginally higher. Initially, upbeat global cues triggered a gap-up start in Nifty but profit taking pared all the gains in no time. It rebounded again as the day progressed but couldn’t surpass the day’s high and finally settled at 18,534.10 levels. Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein realty, metal and auto posted decent gains. The broader indices maintained their positive tone and gained nearly half a percent each.

Mixed global cues combined with a lack of decisiveness in the banking pack are causing uncertainty. However, rotational buying in other sectors and outperformance of the broader indices are helping the traders to put on a brave face. Amid all, we recommend maintaining a stock-specific approach and waiting for clarity

Above views are of the author and not of the website kindly read disclaimer