Market Highlight: Sensex erases morning gains , end below 52,000, Nifty below 15,000; ONGC share gain 3.5%

Domestic equity market benchmark BSE sensex and Nifty 50 ended flat after a volatile session which are on Tuesday fell to settle at 15,574.84.

Gains in ONGC, Bajaj finance,SBI, HDFC,HUL, TECH MAHINDRA stock capped the losses in sensex . On the flip side, ICICI Bank , Ultra tech cement were among the top index laggards , all the sectoral indices ended in the red.Nifty bank index fell over half a percent ,and Nifty Metal index 0.78%

Nifty semes set to achieve 15900-16000

The market took a bit of a breather today but the trend remain bullish . The Nifty seems poised to achieve target 15900-16000 with a good support at 15300.

RBI MPC may keep accommodative stance, maintain system liquidity; COVID fuels concern of K- shaped recovery.

The covid pandemic has fuelled the concern of a K shaped recovery. Shape k contrast the fate of business suitable to adapting in a post covid world versus those finding difficulty to make the transaction.

Petrol , diesel prices high again, rates at new high

Petrol and diesel prices on Tuesday scaled new high across the country after they were hiked for the 17th time in a month.petrol prices was increased by 26 paise per litre and diesel by 23 paise a litre , which are declared by price notification of state – onwed fuel retailers. In Delhi , petrol hit an all time high rate which are rs. 94.49 a litre.

Reliance industries Ltd , Oberoi Reality and Godrej properties stocks may rally over 20 per cent in the coming three months. The new consumer business, jio and retail are likely to be growth drivers for the oil- to – telecom conglomerate in the coming year. While the reality sector has been gaining upward momentum after underperforming over the past decade.

Concern remain as GDP data only an economy snapshot before covid second wave stuck

The much awaited data from the National Statistical Office on India’s GDP number for the January to March quarter and for the year as a hole has been better than, there are concerned. The economy growth by 1.6 per cent in the quarter and though the year saw an overall contraction of 7.3 per cent many experts were fearing worse and were there of sumwhat relieved.

SBI manufacturing PMI at 50.8 vs 55.5 in April

At 50.8 in may , down from 55.5 in April, the seasonally adjusted IHS Market India Manufacturing Purchasing Manager ‘ index PMI moved closer to the no- change mark of 50.0.

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