Stock Market Update for 07/02/2023

Stock Market Update for 07/02/2023

Yesterday Nifty started with gap down and had side wise movement and ended in red. Nifty Stilling having Resistance Level at 17800 and having a Support level at 17400. Yesterday Foreign Institutions had sold above 1200cr, and our Domestic Institutions had bought above 1200cr. Vodafone Idea had gained more than 20% in a single day after government decided to take 33% stake in it. Yesterday US Market ended in red mainly Nasdaq fell nearly 1% and other major Global market are ended in red. Today Many of the Global Market Futures are in green, SGX Nifty and Nifty Futures indicating gap up. Let us wait and see whether the gap will sustain, and Nifty moves up. RBI Monetary Policy Committe started its three-day meeting on Monday amid expectation to raise interest rate by 25basis point or pause the rate hike. This will be decided by the 6 member Committe and will be announced on Wednesday. Due to the event our market may have consolidation movement and FIIs were net Sellers everyday so our will have drag with respect to the amount that FIIs is selling.

Index	Close	Open	High	Low
Nifty50	17,764.60	17,818.55	17,823.70	17,698.35
Sensex	60,506.90	60,847.21	60,847.21	60,345.61
Bank Nifty	41,374.65	41,530.15	41,724.50	41,261.20
Dow Jones	33,891.02	33,874.44	33,962.84	33,683.58
S&P 500	4,111.08	4,119.57	4,124.63	4,093.38
Nasdaq	11,887.45	11,904.41	11,973.41	11,843.49