Asia markets mostly rise, even as Fed forecasts more rate hike to deal with inflation, Nik,33495/-82/-0.24% Dj,33956/-102/-0.3% Vix13.2/-4.9% Holiday US stock futures are flat after 3 day losing streak,
Oil, 72.4 steady after surprise inventory drop, offset demand fears, Gold,1943.1, steadies after hitting 3 month low, on powell’s remarks, Bonds, 3.731, little changed,Dollar,dips as Powell testimony disappoints hawks,BC30171/2228/8%
Nifty:18856.85/40.15/0.21%;Candle:OGU,Doji; Bank Nifty:43859.2/92.7/0.21% Candle:OGU.Doji ; HB:OGU.Long day green,1636
Events/Results:The National Stock Exchange has added Punjab National Bank to its F&O ban list for June 22 and retained BHEL, Delta Corp, Hindustan Aeronautics, Hindustan Copper, and L&T Finance Holdings on the list.
Market wrap up(DWM,T,N,E):The market extended its northward journey for the second consecutive session with the BSE Sensex as well as Nifty50 witnessing a fresh record closing high on June 21, backed by select banking and financial services, and technology stocks. The BSE Sensex hit its highest-ever level of 63,588 intraday, before closing the session with 195 points gains at 63,523, while the Nifty50 climbed 40 points to 18,857 and formed a Doji kind of candlestick pattern on the daily charts, indicating indecisiveness among buyers and sellers about the future market trend. “Despite experiencing a largely flat and sideways movement, the overall trend remains positive as the Nifty50 managed to stay above the 18,800 mark, which is considered as immediate support,” In the short term, he believes that a crucial support level is observed at 18,700, where a substantial number of Put writers have shown their presence. This suggests that there is a significant amount of buying interest and support at that level. On the higher end, “a resistance level is noted at 19,000, where Call writers are waiting to defend the price level. This indicates that there may be selling pressure and a potential hurdle for the index to surpass. A rise above 19,000 may induce further rally in the market,” The market breadth was in favour of advances. The Nifty Midcap 100 and Smallcap 100 indices gained for the eighth straight session, closing with 0.8 percent and 0.1 percent gains respectively.
