There was definitely a bit of caution on Thursday after the US Fed’s hawkish comments.So, the Nifty and Sensex were profit booking. After three days of gains, the Nifty nifty failed to hold on to 18,700.Financials were under pressure. Bank Nifty saw an over 500 points cut in the index. Midcaps saw more strength, so the midcap index was at a record high and continued to gain in terms of global cues.We also had the ECB policy outcome. It did hike rates by 25bps.Europe closed slightly lower.The US markets continued to show strength and closed higher. It was the highest levels intra-day levels that the US markets have seen since April 2022.Asian stocks were mixed. SGX Nifty was indicating a positive start. In terms of flows, the net boughtAsia mixed SGX indicating a positive start in terms of flows, the FIIs net bought over Rs 300 crore. The Axis Bank block deal was a part of the flows.We are likely to continue seeing stock specific interest in our markets.

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16 Jun 2023