Asia markets mostly rise ahead of US inflation report and bank earnings, Nik, 28043/122/0.44% Dj,33685/98/0.29% Vix19.16/0.69% US stock futures are flat ahead of key March inflation data,
Oil,81.22/ little changed as traders weigh china stimulus expectations, Gold,2020.8, advances as traders await US inflation data, Bonds,3.451, little changed as investora await Fed speaker remarks, inflation data, Dollar,pauses after Fed strong hawkish bets, bitcoin hits #30000, BC30203/1022/3.5%
Nifty:17722.3/98.25/0.56%;Candle:OGU;Long day green ; Bank Nifty:41366.5/531.85/1.3% Candle:OGU,Long day green ; HB:OGU,Short day green,1665,
News:Oil rises about 2% with U.S. and China inflation in focus, March CPI inflation seen at 15-month low of 5.7% due to favorable base., Trends on the SGX Nifty indicate a mildly positive start for the broader index in India, as the index gains 15 points to trade at 17,802 level on the Singaporean Exchange from its April 11 closing of 17,722. TCS Q4 Preview| Subdued growth expected due to client delays in US and Europe Tata Consultancy Services (TCS), Rate hike expectations boosted the US dollar index on Monday and Tuesday, which weighed on oil prices as dollar strength makes oil more expensive for other currency holders. Gold climbs as dollar pauses ahead of US inflation data. Gold climbed back up above the key $2,000 level on Tuesday as the dollar came off last session’s peak, while traders hunkered down for Wednesday’s U.S. inflation data for cues on future interest rate hikes.
Events/Results:Tata Consultancy Services, Anand Rathi Wealth, and Dharani Sugars & Chemicals will be in focus ahead of March FY23 quarter earnings.
The National Stock Exchange has added Delta Corp to its F&O ban list for April 12.
Market wrap up(DWM,T,N,E):Bulls retained their control over Dalal Street for the seventh consecutive session, taking the Nifty50 above the 17,700 level on April 11, backed by banking and financial services, auto, FMCG, metal, and oil and gas stocks. The BSE Sensex closed above the psychological 60,000 mark for the first time since March 8, rising 311 points to 60,158, while the Nifty50 climbed 98 points to 17,722 and formed a high wave kind of pattern on the daily charts. Also, there seems to be a hidden bearish divergence with the Nifty making a lower high and momentum indicator RSI (relative strength index) making a higher high, indicating the possibility of some trend reversal. “The index has been sustaining above the critical moving average. Besides, the Nifty has so far remained above the crucial support level of 17,500. The market will remain a buy on dips as long as the index remains above 17,500,” immediate support is visible at 17,640. On the higher end, the rally may extend towards 17,850-17,970. The broader markets also traded largely in line with benchmarks as the Nifty Midcap 100 and Smallcap 100 indices gained 0.5 percent and 0.4 percent respectively
