Asia markets trade mixed as investors await china’s trade figures in April, Nik,29134/183/0.63% Dj,33618/-56/-0.2% Vix16.98/-1.2%; S&P 500 futures are flat as investors await closely followed inflation data,
Oil,73, 2% up as recession fears fade, Gold, 2034, regains ground, with focus on US inflation data, Bonds,3.50, yields are flat, on April jobs report, Dollar,US stock slips to start the week as traders await key inflation data, BC 27890/-1069/-3.69%
Nifty:18264.4/1954/1.08%;Candle:OGU, Long day green; Bank Nifty:43284/622.8/1.46% Candle: OGU, Long day green ; HB: Short day green,1644.
The National Stock Exchange added BHEL and retained GNFC and Manappuram Finance to its F&O ban list for May 9.
Market wrap up(DWM,T,N,E):The market started off the week on a strong note as the benchmark indices recovered all the previous day’s losses and posted more than one percent gains on May 8. Most of the key sectors including banking & financial services and auto traded higher. The BSE Sensex rallied 710 points to 61,764, while the Nifty50 jumped 195 points to 18,264.40, the highest closing level since December 20 last year, and formed a bullish candlestick pattern on the daily charts by making a higher high and higher low formation. “A long bull candle was formed on the daily chart, that has covered the decline of the previous session on the upside and filled the opening downside gap of Friday and closed higher. This is a positive indication and one may expect further upside in the short term,” the short-term trend of Nifty remains positive. “A sustainable move above 18,300 levels is expected to pull Nifty towards the next upper area of 18,600-18,700 levels in the near term. Any failure to surpass the hurdle is likely to result in further consolidation with minor weakness,” Immediate support is at 18,100-18,050 levels . The Nifty Midcap 100 and Smallcap 100 indices also participated in the run, rising 1 percent each on positive breadth, while the volatility inched up for yet another session with the India VIX rising to 12.64 levels from 11.72 levels.
