Fortnightly Market Review
The current texture of the market is denoting sector rotation. It continues to be a Buyers market. Some profit booking has been taking place in mid cap space. Banks & Financial space is gaining in momentum. The broad range of the market is expected to be 23300 to 24600. It is a stock picker market and the bottom up approach style is doing well. Stay invested in markets and continue to rise the market gains.
The Global Market continues to be strong with Nasdaq rising 6% ; S&P 500 going up by 3.50% in the last month.
ON precious metals front- GOLD has been flattish and Silver has fallen by nearly 4% in last 1 month
On Indian Bourses- in the last 1 month outperformance has come in from Nifty Micro caps 10.93% ; Nifty Reality 10.37% ; Nifty Small Cap 50 9.77% ; Nifty pvt Bank 8.53%.
The worst performers of last 1 month have been Nifty metal down 0.27% and Nifty PSU bank flattish with gain of 0.55%.
Nifty 50 has risen 5.75% in the last 1 month.
The Dollar Index is hovering around 105.85 at the moment gaining nearly 1.17% in the last 1 month. Metals are expected to be under pressure till the time DXY continues to rise further. Key resistance zone on DXY is 106.50.
US 10 Year yield is hovering around 4.40 and Indian 10 Year Gsec is at 7.00%
Noteworthy to see is the fact that in the last 1 Quarter ( April to June) – maximum outperformance has come in from Reality, Small caps, manufacturing and metals. The laggards in last quarter have been IT, Pharma, FMCG, Nifty PSU Banks.