On the first day of the new financial year, the benchmark indices ended a percent higher supported by metal and financials. The rally in the domestic market was led by positive cues from global peers. We witnessed strong buying in metal stocks and recovery in the banking sector. All other sectoral indices ended in the green except FMCG, with the Nifty metal index rising 5 percent and PSU bank 2.6 percent. By tracking positive global cues, Indian market bounced back from the lows. Positive bias is expected to continue in the near time. However, rising COVID cases in India would remain a key concern.
Read on in this week’s newsletter to know more…