Asia markets set to fall ahead of Fed policy decision, tracking losses on wall street, Nik,29157/35/0.12% Dj,33684/-367/-1.1% Vix17.78/10.6% US stock futures fall slightly as investors look ahead of Fed rate decision, BC 28554/627/2.28%
Oil,71.68,falls on US default and interest rate hike worries; Gold,2022.3, advances on fresh banking jitters as FEd verdict looms, Bonds,3.443, fall as investors await fed meeting ,weigh policy expectations, Dollar, dollar pairs gains after data, Fed meeting in focus, BC 28586/654/2.4%
Nifty:18147.65/82.65/0.46%;Candle:Of,Doji; Bank Nifty:43352.1/118.2/0.27% Candle:OF,Doji ; HB:OF,Doji,1689,
News:SGX Nifty indicates a negative start for the broader index with a loss of 71 points after the Nifty closed 82 points higher at 18,147 on Tuesday. SGX futures stood at 18,149. Titan Q4 preview: Net profit may rise 50% to Rs 737 crore aided by shift in wedding season., Ambuja Cements Q4 earnings beat estimates, profit grows 1.6% to Rs 502 crore,
Events/Results:Titan Company, ABB India, Tata Chemicals, Petronet LNG, AAVAS Financiers, Anupam Rasayan India, Adani Wilmar, Bajaj Consumer Care, Cholamandalam Investment and Finance Company, Godrej Properties, Havells India, Jyothy Labs, KEC International, Mold-Tek Packaging, MRF, R Systems International, SIS, Sona BLW Precision Forgings and Sula Vineyards will be in focus ahead of quarterly and full-year earnings on May 3.
The National Stock Exchange has not added any stock to its F&O ban list for May 3.
Market wrap up(DWM,T,N,E):The upward journey of the market continued for the sixth consecutive session on the Nifty50 on May 2, driven by technology, metal, oil & gas, auto, and select bank stocks. The broader markets performed better than front liners as the Nifty Midcap 100 index gained 1 percent and the Smallcap 100 index rose 0.7 percent on positive breadth. The BSE Sensex rallied 242 points to 61,355, while the Nifty50 jumped 83 points to 18,148, and formed small bodied bullish candlestick pattern on the daily charts. The Nifty is trading near a crucial resistance of 18,200 and once surpassed will witness further short covering towards the 18,400 level,” the downside support is at 18,000 where aggressive Put writing is visible. The undertone remains bullish and one should keep a buy-on-dip approach,
Asia pacific markets largely higher ahead of Australia’s interest rate decision, Nik, 29182/58/0.2% Dj,34098/272/0.8% Vix15.78;-7.3% Dow gains more than 250 points Frida y as index finishes best month since January,
Oil, 74.87, drops 2% as economic growth concerns offsset OPEC + cuts; Gold,1990.3,retreats as robust U.S data lifts dollar; focus on FED; Bonds,3.557,yield rises ahead of Fed meeting; Dollar,gins before fed meeting ; jobs data,BC28297/-1027/-3.6%
Nifty:18065/149.95/0.84%;Candle:OGU,Long day green; Bank Nifty:42333.9/233.05/0.54% Candle:OF,Long day green ; HB:OF, Short day green,1688,
News:SGX Nifty indicates a flat start for the broader index with a loss of 14 points after the Nifty closed 149 points higher at 18,065 on Friday. SGX futures stood at 18,259 , Govt reduces windfall tax on crude oil to Rs 4,100 , GST collections hit new all-time high of Rs 1.87 lakh crore in April, India April factory activity hits 4-month high on robust demand,
Events/Results:Tata Steel, Ambuja Cements, Varun Beverages, Birla Cable, Cigniti Technologies, DCM Shriram, Fino Payments Bank, Home First Finance Company India, KEI Industries, Astec Lifesciences, Mold-Tek Technologies, Newgen Software Technologies, Punjab & Sind Bank, Sasken Technologies, Spandana Sphoorty Financial, and UCO Bank will be in focus ahead of quarterly earnings on May 2.
The National Stock Exchange has not added any stock to its F&O ban list for May 2.
Market wrap up(DWM,T,N,E):Equity benchmarks closed the final session of the week on a strong note, with the BSE Sensex getting back above 61,000 levels and the Nifty above the psychological 18,000 mark on April 28, continuing the uptrend for the fifth straight session. We have seen gains across sectors with IT being the leader with more than 1 percent rally. The BSE Sensex jumped 463 points to 61,112, while the Nifty50 gained 150 points at 18,065 and formed a bullish candlestick pattern on the daily scale, continuing higher tops higher bottoms formation for the fifth straight day. “A long bull candle was formed on the daily chart with a minor lower shadow. Technically, this pattern indicates a continuation of upside momentum with strength,” After the formation of the higher bottom at 17,553 levels on April 21, the market is on an upward journey. This pattern signals the negation of the previous bearish pattern like lower tops and bottoms and the resumption of a positive pattern like higher tops and bottoms, “The short-term uptrend of Nifty remains intact and the market is expected to reach up to the next resistance of 18,200-18,300 levels in the next week. Immediate support is placed at 17,900 levels, For the week, both these benchmark indices gained 2.5 percent each. On Friday, the Nifty Midcap 100 and Smallcap 100 indices remained strong on positive breadth, rising 1.2 percent and 0.8 percent, respectively, while India VIX reached a 40-month low of 10.95 levels, down 4.17 percent from 11.43 levels.
