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Daily market commentary 27 June 2022 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Domestic equities witnessed an up-move led by broad-based buying. HDFC twins too infused strength after the company announced the merger to be effective from 1^st July. Nifty opened higher and traded in positive territory throughout the session to close with gains of 126 points at 18817 levels. All sectors including midcap and smallcap ended in the green. FinNifty made an all-time high of 19809 today. After a brief consolidation last week, the Nifty is gaining momentum and attempting to make new highs. India VIX at a multi-month low of 10.82 is also supporting the market. On the global front, investors await US Consumer confidence data for the month of June and New Home Sales numbers for the month of May that will be released today. This would provide some direction to the global markets.

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