Perspective on market opening by Mr. Hemang Jani, Motilal Oswal
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Below is Perspective on market opening by Mr. Hemang Jani, Head Equity Strategy, Motilal Oswal Financial Services
“Nifty opened gap down as equity markets across globe are witnessing a sell-off after US May inflation data accelerated to four decades high which raised concerns about aggressive rate hikes by US Fed in the upcoming monetary policy meet due this wednesday. US treasury yields surged to 14 year high at 3.15% while dollar index spiked above 104 levels. US futures are also down ~1%. On the domestic side, India’s inflation data is due today on account of which nervousness is likely to be seen in the market. Apart from these market would continue to remain cautious ahead of various central banks meetings in this week.”
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