IGI Logo

Below are Quote on Closing market comment by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd   

Volatile day ends with a flat closing at nifty and Sensex.

Nifty ends with a slight loss of 7 points at 15574 and Sensex ends with loss of 3 points at 51934.

During the day nifty touched the highs of 15,660 as positive clues from the global market but as from today new margin rules got implemented nifty touched the lows of 15,528.

We expect nifty to be volatile this week and exchange volumes to decrease as the new 75% margin rule got implemented from today i.e 01-June 2021.

Today we have seen some profit booking in S&P BSE METAL (Down by 1.63%) and S&P BSE Basic Materials (Down 1.09%), we expect profit booking in metals will be continue thought this weak, While S&P BSE Energy up by 0.70% and S&P BSE OIL & GAS up by 0.71%.

Today BFSI stock has led the Sensex, BAJFINANCE up by 2.93% and SBIN up by 1.97% during the day.

We expect the market to consolidate for this week in a trading range of 15450-15700.

Above views are of the author and not of the website kindly read disclaimer