Asia markets weaker in early trade, as US debt ceiling still elusive. Nik,30709/-251/-0.8% Dj,33056/-231/-0.69% Vix18.53/7.7% US stock futures are slightly higher as investors eye debt ceiling clash in washington,BC 27173/310/1.2%
Oil,73.88,gains after saudi warns short sellers watch out, Gold,1975.8, recovers as debt ceiling talks makes little progress, Bonds,3.69; touches highest level since march, Dollar,higher as US debt ceiling concerns keep traders nervous,
Nifty:18348/33.6/0.18%;Candle:OF;Doji; Bank Nifty:43954.45/69.35/0.16% Candle:OF ,Doji; HB:OF,Short day red,1637;
News:The SGX Nifty indicates a negative start for the broader index with a loss of 89 points on Wednesday. SGX futures stood at 18,280., NMDC Q4 results: Net profit rises 22% to Rs 2,277 crore; revenue falls 14%, Biocon Q4 net profit rises 31% to Rs 313 crore; declares dividend,
Events/Results:Hindalco Industries, National Aluminium Company, FSN E-Commerce Ventures, Oil India, 63 Moons Technologies, Ashoka Buildcon, Bayer Cropscience, Brigade Enterprises, Cummins India, Fine Organic Industries, Gujarat Pipavav Port, Garden Reach Shipbuilders & Engineers, ICRA, India Cements, IRCON International, JB Chemicals & Pharmaceuticals, Nava, The Phoenix Mills, Hitachi Energy India, Trident, Titagarh Wagons, and Wonderla Holidays will be in focus ahead of quarterly earnings on May 24.
The National Stock Exchange has added Delta Corp, and retained Indiabulls Housing Finance to its F&O ban list for May 24.
Market wrap up(DWM,T,N,E):It was about to be a strong day. But selling in the last hour of trade erased gains, and as a result, the market closed with moderate gains on May 23. The benchmark indices extended their northward journey for the third consecutive session. The BSE Sensex rose 18 points to 61,982, while the Nifty50 climbed 34 points to 18,348 and formed a small-bodied bearish candlestick pattern with a long upper shadow and small lower shadow on the daily charts, indicating selling at higher levels but strongly held 18,300 mark and continued higher tops and higher bottoms formation for yet another session . “During the day, the Nifty index exhibited a predominantly sideways movement, hovering around the 18,400 level. Despite the lack of significant fluctuations, market sentiment remained optimistic as the Nifty managed to sustain its position above the support level of 18,300,” A notable resistance was observed at 18,500. If the Nifty manages to break through this resistance decisively, it could potentially trigger a rally towards the 18,800 level, The broader markets also closed higher with the Nifty Midcap 100 index rising 0.6 percent and Smallcap 100 index up 0.02 percent.
