Asia markets trade mixed as wall street earnings ;China to release first quarter DGP, Nik,28675/161/0.56% Dj,33987/101/0.3% Vix16.95/-0.7% US stock futures are flat Monday night as traders digest latest earning results,
Oil,80.84,drops 2% on higher dollar ,interest rate concerns ; Gold, 2007.7, slides below $2000 dollar, markets eyes fed rate hike cues, Bonds, 3.595, yields rise as investors weigh economic outlook, Dollar,jumps after new york manufacturing survey, BC 29516/-963/-3.2%
Nifty:17706.85/-121.15/-0.68%;Candle:OGU;Short day red, Bank Nifty:42262.55/130/0.31% Candle:OGU;Short day red ; HB:OGD,Long day red,1671
News:SGX Nifty indicate a mildly negative start for the broader index with a loss of 14 points after the Nifty closed 121 points lower at 17,706 on Monday. SGX futures stood at 17,760. Cement demand seen rising 8-9% in FY24 over 9% growth in FY23, Wholesale inflation drops to 1.34% in March, lowest in 29 months, Oil drops 2% on higher dollar, interest rate concerns, Gold slides below $2,000, market eyes Fed rate hike cues,
Events/Results:ICICI Lombard General Insurance Company, Tata Coffee, Schaeffler India, CRISIL, Seacoast Shipping Services, Accelya Solutions India, Oriental Rail Infrastructure, and Vivanta Industries will be in focus ahead of quarterly earnings on April 18.
The National Stock Exchange has retained Balrampur Chini Mills and Delta Corp to its F&O ban list for April 18.
Market wrap up(DWM,T,N,E):The market snapped a nine-day winning streak and lost more than 500 points on the BSE Sensex despite positive global cues. The correction in technology stocks after lower-than-expected earnings by TCS and Infosys dented sentiment. The BSE Sensex closed below the psychological 60,000 mark, falling 520 points to 59,911, while the Nifty50 declined 121 points to 17,707 and formed a bearish candlestick pattern with a long lower shadow which resembles a Bearish Engulfing kind of pattern formation on the daily scale. “Over the near term, the trend is likely to remain sideways, as, after a rally of 900 points, buyers at 17,000 would want to take some profits. On the lower end, support lies at 17,550, below which the index may fall towards 17,400,” On the higher end, 17,800 is likely to remain resistance for the Nifty, The volatility crossing 13 levels during the day gave discomfort to bulls. India VIX closed at 12.27 levels, up 3.21 percent from 11.91 levels. However, the broader markets performed better than benchmarks as the Nifty Midcap 100 and Smallcap 100 indices gained four-tenth of a percent and a third of a percent respectively.
