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Daily Market Analysis 14 June 2022 By Mr. Ajit Mishra, Religare Broking
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Below is the Daily Market Analysis 14 June 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets ended marginally lower in a volatile trading session, in continuation of the prevailing trend. After the soft start, the benchmark made multiple attempts to recover but selling pressure in heavyweights capped the upside till the end. Eventually, the Nifty index ended lower by 0.3% to close at 15,732 levels. Meanwhile, the sectoral indices traded mixed Oil & Gas, Metal and Auto ended with losses whereas Realty and IT ended with gains. The broader markets too ended with similar losses.
Markets are witnessing pressure ahead of the crucial US Fed meet outcome scheduled on Wednesday. Given the inflation data at a 40-year high in the US, expectations of 75 bps hike have increased. We thus reiterate our cautious view on markets and suggest limiting leveraged position ahead of the event.
Above views are of the author and not of the website kindly read disclaimer
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