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Below Quote Daily Market Analysis 13 June 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets edged higher and gained over half a percent, tracking upbeat global cues. After a firm start, the Nifty oscillated in a range while maintaining positive bias and finally settled at 18,716.15 levels.  All sectors, barring auto, contributed to the move wherein realty, FMCG and pharma were the top gainers. Besides, the continued outperformance of the broader indices kept the traders busy.

Participants are taking comfort from recovery in the US markets and prevailing buoyancy in midcap & smallcap space however the key is to hold 18,700 in Nifty for further surge else the move would fizzle out again. We recommend maintaining a positive tone but avoid going overboard citing the possibility of a rise in volatility ahead.

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