The market managed to end the May series on quite a strong note with two consecutive series of games with the Nifty sharply recovering from the intra-year lows, and today we we are looking at going into the fresh June series.It’s a slightly soft setup in terms of the global markets, as a significant amount of uncertainty has gone ahead and introduced significant volatility in the US market. However, on Thursday, the Nasdaq closed higher by almost 1.7 percent on the back of sharp results from Nvidia. Meanwhile, the European markets continued their decline.On Thursday, there was quite a sharp downtick as far as oil prices were concerned as Russia downplayed prospects of further production cuts in the next OPEC+ meeting. Brent futures yesterday closed low by almost 3.6 percent trading, now closer to the $75.5/barrel mark. .The markets ended the May series on a strong note with last time buying coming in heavy weights such as Reliance, ITC Ltd, etc which aided the sharp intra-day recovery.

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26 May 2023