Dear Readers Quick recap of the market for the current week is enclosed.( 31st May to 04th June 2021)
Hope You are doing well.
It was a Fabulous Week. Indian markets continued its upward momentum for the third consecutive week, adding more than 1 percent this week. Nifty touched a fresh record high amid positive global and domestic cues including encouraging US non-farm payroll data, in line RBI policy outcome. Daily fall in coronavirus cases also kept the mood in favour of the bulls. This week, Sensex rose 677.17 points to end at 52,100.05, while the Nifty50 added 234.65 points to close at 15,670.3 levels. Nifty touched a fresh record high of 15,733.60, while Sensex also climbed close to its record level of 52516.76 during the week.
With a mildly bullish trend visible in markets, Indices can continue to maintain their current levels. Indian markets attained record levels primarily driven by positive macro-economic data released during the week. While the GDP de-growth came in at 7.3 percent for the year, it ended up being much better than what the Street estimated.
Investors can select the stocks from different sectors but they should make sure the companies have clean financials in order to prevent losses due to any negative surprises and it would also be a good time to look at investments in gold from a portfolio allocation point.
Market Update: 04th June 2021
Sensex: 52232.43 ▲ 0.74%
Nifty: 15690.35 ▲ 0.73%