InvestorQ : What is your trading view on the Nifty and Sensex for 09 June, Wednesday?
Dhwani Mehta made post

What is your trading view on the Nifty and Sensex for 09 June, Wednesday?

diksha shah answered.
2 years ago

On Tuesday, the markets closed in the red but the Nifty was down by just about 11 points so you really cannot call it a fall. The global inflation spike was a risk and that threatened to go higher. Also, there was a concern that India could end up spending another Rs.80,000 crore for vaccinating the rest of India free of cost as promised by the prime minister.

Even as the fiscal concerns were mounting in the markets, there was positive action seen in the sugar and QSR stocks which continued to remain in the limelight due to positive regulatory changes. However, the stock moves from here on could be a lot more specific to individual stocks but the theme appears to be rather ripe.

FPI action was positive on Tuesday with net buying of Rs.1,423 crore, which can be called rather emphatic. However, domestic institutions sold equities worth Rs.1,627 crore on Tuesday in a rather surprising bout of selling. FPIs are now decisively on the buy side in the month of June so far, after selling in April and May.

Tuesday turned out to be a day of flat markets. While Dow and NASDAQ markets in the US were lacklustre, most of Europe also ended flat. In early trades, the SGX Nifty is extremely non directional and the pressure on the markets could remain for now.