Post Market views – July 2, 2021 – Mr. Binod Modi, Head Strategy at Reliance Securities

 Post Market views – July 2, 2021 – Mr. Binod Modi, Head Strategy at Reliance Securities


Market Commentary

Posted On:
2021-07-04 08:17:24

(Time Zone: UTC)

Domestic equities continued to trade in a rangebound with benchmark indices witnessing marginal gains. While financials, pharma and realty indices recovered modestly today, profit booking was visible across metals and FMCG counters. Notably, midcap and smallcap indices continued to outperform as improved earnings visibility attracted investors towards this space. Further, volatility index contracted by over 5% today. Divi’s Lab, ICICI Bank, RIL and Adani Ports were among top Nifty gainers, while Tata Steel, Britannia, JSW Steel and Powergrid were laggards. Notably, Nifty contracted by ~1% for the week, while overall marketcap of market remained flat led by persistent rebound in midcap and smallcap stocks.

Notably, while Financial Stability Report (FSR) of RBI flagged emerging…

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