Dear Readers Quick recap of the market for the current week is enclosed.( 28th June to 2nd july 2021)
Hope You are doing well.
The Indian market snapped a four-day losing streak to close in the green on July 2. The Nifty, which slipped into the red managed to recoup losses, to close 42 points higher at 15,722. The Sensex gained 166 points to end at 52,484. The fear of the third wave of coronavirus and the rising cases of delta plus variant kept bulls on the sidelines in the week, but the losses were capped amid unlocking of the economy. The rally is supported by further decline in new COVID cases and increased pace of vaccination, around 34,00,76,232 doses of vaccine have been administered to date with
4.5% of the population being fully vaccinated and 21% having taken only one shot of the vaccine.
As the economy continues to march forward that is in line with global indices, hard-hit sectors like hotels, airlines, retail may see some fresh buying on the back of the unlock theme. With the Q1 result season commencing this month, there can be news-specific reactions in stocks based on expectations
Market Update: 02nd July 2021
Sensex: 52484.67 ▲ 0.32%
Nifty: 15722.20 ▲ 0.27%