Market Report Jun 29 2023

On Wednesday, the markets portrayed a mix of gains and losses with a lack of decisive trading activity following the preceding day's rally. Initial support to the broader market was provided by mega-cap stocks, although, a subsequent downturn in some of these stocks was witnessed by the end of the trading session.

Fed Chair Powell participated in a roundtable discussion, joined by the heads of the ECB, BoE, and BoJ, at the ECB's Forum on Central Banking.
Powell mainly echoed the sentiments expressed during the June FOMC meeting and the semiannual monetary policy report to Congress last week.

The roundtable did instil a hesitant start but a the close, VIX fell some more from the prior day.

Javid Shaik

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