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The Indian equity market snapped its three-day winning streak to end lower on June 15, with the 30-pack Sensex falling 306 points to 62921 and the broad-based Nifty closing below the 18700 mark. The Nifty closed 72 points lower at 18683. Globally, markets were spooked after the US Federal Reserve hinted at two more rate hikes despite hitting the pause button in the June meeting. Nearly all committee participants view it as likely that some further rate increases will be appropriate this year. The Nifty formed a bearish Engulfing pattern on June 15. This could be the first sign of caution after a long upmove; 18550 could be the next support, while 18775 -18800 could offer resistance.
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PERFORMANCE OF STOCK FOR 15 JUNE 2023
TATACHEM TOP LOSER DOWN BY 2%
L&TFH ROCKSSS TOP GAINER UP BY 6%
VOLTAS DOWN BY 2%
FEDERALBK DOWN BY 2%
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