Asia markets mostly rise as US inflation forecasts fall ,nikkei to reach 2023 new high; Nik,32720/287/0.9% Dj,34066/190/0.56% Vix15 / 8.5%, US stock futures are flat ahead of key inflation report,
Oil,67.9, oil prices fall ,Fed rate decision in focus, Gold,1972, edges up on weaker dollar,as fed pause hopes linger, Bonds,3.769, climbs as investors anticipate key inflation data, Dollar,edges lower as fed pause eyed in busy central bank week, Bc
Nifty:18601.5/38.1/0.21%;Candle:OGU,Doji; Bank Nifty:43944.2/-44.8/-0.1% Candle:OF,Doji ; HB:OF,Short day green
News:The SGX Nifty indicates a marginally higher start for the broader index with a gain of 31 points on Tuesday. SGX futures stood at 18,729. Indian economy improves as CPI inflation drops to 4.25%, says ASSOCHAM, IIP growth rises to 4.2% in the month of April 2023,
Events/Results:The National Stock Exchange has added Delta Corp and retained Indian Energy Exchange, India Cements, and Indiabulls Housing Finance to its F&O ban list for June 13.
Market wrap up(DWM,T,N,E):The market rebounded after a two-day correction amid a rangebound session, and closed with moderate gains on June 12, ahead of CPI inflation which dropped to 4.25 percent in May, the lowest in 25 months, from 4.7 percent in April. The BSE Sensex climbed 99 points to 62,725, while the Nifty50 rose 38 points to 18,602 and formed a Doji kind of candlestick pattern on the daily charts. “This pattern indicates a halt in a few sessions’ minor weakness that started from the swing highs,” immediate supports like daily 10-day and 20-day EMAs (exponential moving averages) are offering a base for the Nifty for the past two months , “The overall chart pattern signal chances of an upside bounce in the coming session. Immediate support is at 18,500 levels and crucial overhead resistance is placed at 18,800 levels,” The broader markets also bounced back and outperformed benchmarks on positive breadth. The Nifty Midcap 100 and Smallcap 100 indices gained 0.55 percent and 0.87 percent respectively.
