Asia markets mostly rally after wall street sees tech rally, Nik,31031/228/0.74% Dj,32765/-35/-0.11% Vix9.14/-4.4% S&P500 futures are slightly lower as investors watch for debt ceiling updates , inflation data,
Oil,71.75, falls as russia down play opec+ cuts; Gold,1943.7,hits 2 month low, on debt talk progress, rate hike bets, Bonds,3.788; Dollar, lifts dollar , euro soft as germany enters recession, BC 26272/-5/-0.02%
Nifty:18321.15/35.75/0.2%; Candle:Of,Doji; Bank Nifty:43681.4/3.55/0.01% Candle: OF,Doji ; HB:1613;OF,Doji
News:The SGX Nifty indicates a negative start for the broader index with a loss of 43 points on Friday. SGX futures stood at 18,427. Vodafone Idea Q4 net loss narrows to Rs 6,419 crore in FY23, Emami consolidated net profit down 60% in Q4 FY23
Events/Results:
Oil and Natural Gas Corporation, Mahindra & Mahindra, Sun Pharmaceutical Industries, Grasim Industries, Engineers India, Astra Microwave Products, Avalon Technologies, BEML, BHEL, BL Kashyap and Sons, Chambal Fertilisers & Chemicals, City Union Bank, Easy Trip Planners, Edelweiss Financial Services, Finolex Cables, HUDCO, Indigo Paints, Inox Wind, Karnataka Bank, MOIL, Samvardhana Motherson International, Info Edge (India), NCC, PNC Infratech, Shree Renuka Sugars, Sunteck Realty and Wockhardt will be in focus ahead of quarterly earnings on May 26.
Aurobindo Pharma, Power Finance Corporation, Ahluwalia Contracts, Balkrishna Industries, Barbeque-Nation Hospitality, GMR Airports Infrastructure, Godfrey Phillips India, Greenlam Industries, IFB Industries, JK Cement, Jaiprakash Associates, Krsnaa Diagnostics, PTC India, Reliance Communications, Reliance Home Finance, Sadbhav Engineering, and Shalimar Paints will be in focus ahead of quarterly earnings on May 27.
Market wrap up(DWM,T,N,E):The market remained volatile on the monthly F&O contracts expiry day, May 25 and managed to report moderate gains due to buying in late trade. However, global markets remained under pressure amid ongoing negotiations for the US debt ceiling. The BSE Sensex gained 99 points to close at 61,873, while the Nifty50 climbed 36 points to 18,321, and formed a bullish candlestick pattern with a long lower shadow on the daily charts, indicating buying at lower levels, though there were lower highs, lower lows formation. “We observe that Nifty did move below the 20-day SMA (18,223), but it recovered and closed well above it, indicating the bulls remain in control after two sessions of weakness,” the uptrend to continue in the coming sessions. “Further upsides are likely once the immediate resistances of 18,393-18,420 are taken out. The immediate target is 18,459. Crucial support to watch for weakness is at 18,202,” The broader markets also closed higher with the Nifty Midcap 100 and Smallcap 100 indices rising 0.4 percent and 0.1 percent, respectively, while the falling volatility gave comfort to bulls. The India VIX declined by 4.51 percent to 12.52 levels, from 13.11 levels.
