We are all set to begin trading for the second half of 2023, with the first half being extremely strong for equity markets despite multiple worries of a US-led recession and also spiralling interest rates.

Now, when you're talking about the first half of 2023, US markets were very strong with the Nasdaq gaining over 31 percent for the first half of the year. And even June-end has been very strong with the US markets, giving a very strong handover for the rest of the globe.

European indices too were very strong and the oil prices managed to go ahead and post the fourth-straight quarterly decline.

Coming to the Indian markets, all of the frontline indices have ended at record highs and are trading near record highs. Another very big development today is the fact that the SGX Nifty that we used to allude to earlier has moved to Gujarat Gandhinagar and will be known as the GIFT Nifty. The GIFT Nifty is now indicating a very strong start for our markets for the second half.

Another important thing to note is that in the second half of this year, it is important to note if this particular rally that we are seeing sustains or not.

Last week, the pharma stocks, AMC stocks were some of the top gainers. The key question is can the rally sustain post-Q1 results?

The cues to watch out for in today;s trading session includes auto stocks, as the auto majors such as Maruti, Tata Motors, Hero MotoCorp, etc, delivered their sales numbers for the month gone by; quarterly updates from companies such as UltraTech Cement, CSB Bank, etc are expected to be quite positive.

Primary market activity will continue to remain in focus.

Tune in to Marketbuzz Podcast for more news and cues ahead of today’s session

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