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Quote on Market 13 July 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded under pressure and lost over half a percent, in continuation of the prevailing corrective move. After the initial uptick, the benchmark gradually inched lower as the session progressed and finally settled closer to the day’s low. Amongst the sectors, except healthcare, all the other indices ended with losses wherein Oil & Gas, Telecom and Power were the top losers. Meanwhile, the broader markets outperformed the benchmark and ended on a flat note.

Markets will react to the US inflation data in early trades as that would set the tone for policy action by the US Fed. Besides, weekly derivatives expiry and earnings will keep the volatility high. Participants should maintain caution and continue with stock-specific trading approach.

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