Daily Market Analysis :Markets gained for the second consecutive day amid supportive global cues Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 20 September 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets gained for the second consecutive day amid supportive global cues. The benchmark witnessed a gap up start and continued to trade with positive bias throughout the day. The rally was largely led by healthy buying across sectoral indices wherein pharma, realty, auto and metals were the top gainers. The broader markets too ended in the positive range of 1.1-1.4%. Consequently, The Nifty ended at 17,816.25 levels, up by 1.1%
We believe all eyes will be on the FOMC meeting scheduled tomorrow wherein there are high expectations of the Fed increasing the rates by 75bps. So, the FED rate decision will dictate the market trend going ahead. Meanwhile, investors will continue to monitor global cues, crude and currency movement.
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