Weekly Market Update

Market Weekly Update by Pinnacle Market Investment AdvisoryMarket jumped on hopes of timely arrival of southwest monsoon rains. Global markets remained mixed following a better-than-expected employment data in the US, which triggered concerns that the US Federal Reserve may soon hike rates this year. In the week ended Friday, 2 June 2017, the SENSEX jumped 245.08 points or 0.79% to settle at 31,273.29, a record closing high. The Nifty 50 index surged 58.40 points or 0.61% to settle at 9,653.50, a record closing high. The index hit record high of 9,673.50 in intraday trade on Friday, 2 June 2017 The major domestic event next week is RBI’s monetary policy meeting scheduled at 14:30 IST on Wednesday, 7 June 2017.Among global cues Euro zone interest rate decision is due on Thursday, 8 June 2017.