Pre-Market-Snapshot- Jan 3 , 2023


 

Global markets traded mixed on the first trading day of the new calendar. European stocks traded higher but Asian names traded flat to negative on Monday. US markets remained shut on account of New year's holiday.   


Indian stocks moved higher on Monday led by Metal/Infra stocks and heavyweights like RIL. Stocks started the day with some losses but reversed the course mid way to gain some strength on the back of strong economic data raising optimism on growth prospects of the Indian economy. Nifty closed almost 92 points higher and Sensex gained 327 points at close. 


Markets may continue to consolidate ahead of key US data and presentation of Union Budget next month. Global central banks' outlook on inflation / rate action, Indian state elections outcome, Chinese COVID policy action remain key monitorables for CY 2023. Participants may continue to rotate positions amongst sectors for outperformance in near term and also watch for early trends for a positional trade over medium term.

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