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Below is the Daily Market Commentary 27 June 2022 By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Domestic equities traded in positive territory throughout the day in line with its global peers. Nifty opened gap up and traded in narrow range to finally close with gains of 133 points (0.8%) at 15,832. Broader indices outperformed with Nifty midcap 100 up 1% while Nifty smallcap 100 up 2%. All sectorial indices ended in green with IT & metals being top gainers.

Global markets are positive amid improved risk sentiment as treasury yields remained subdued, oil prices eased out and investors continued to assess the outlook for U.S. rate hikes, and the potential for a recession.

ECB’s three-day forum in Portugal's Sintra gets concluded on Monday against a backdrop of worries over whether the global economy could get into a recession. Investors will closely watch Wednesday’s panel discussion with Lagarde, Powell and Bailey for insights on how the central bank heads view the trade-off between curbing inflation while still trying to ensure a soft-landing for the global economy. Investors will also keep an eye on slew of economic data due this week for US, UK, India and China. We expect market volatility to continue this week with Nifty approaching its strong resistance around the 16,000 mark.

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