Asia markets rise ahead of Fed meeting and as US inflation rate hits 2 year low, Nik,33304/287/0.87% Dj,34212/146/0.43% Vix 14.61/ -2.7% S&P futures are little changed as wall street count down to fed decision, BC 26000/193/0.75%
Oil,69.1, prices rise 3% after china rate cut, Gold,1960, dips as US yield ticks higher , spot light on Fed, Bonds, 3.808/ climbs after CPI report shows slowing inflation ahead of fed decision, Dollar,falls to 3 week low as US inflation data backs Fed pause view,
Nifty:18716.15/114.65/0.62%;Candle:OGU, Short day green; Bank Nifty:44079.85/135.65/0.31% Candle:OF,Short day green ; HB:OGD,Short day green,1604,
News:The SGX Nifty indicates a marginally higher start for the broader index with a gain of 48 points on Wednesday. SGX futures stood at 18,833. Adani in talks for first major debt refinancing after Hindenburg, Watchful of refinancing risk on Vedanta Resources’ term debt of $4.2 billion due in FY24: CreditSights,
Events/Results:The National Stock Exchange has added BHEL and Manappuram Finance to its F&O ban list for June 14 and retained Delta Corp, Indian Energy Exchange, India Cements and Indiabulls Housing Finance to the list.
Market wrap up(DWM,T,N,E):The market turned strong with the Nifty50 getting back above 18,700 and Sensex above the 63,000 mark on a closing basis, on June 13, on the back of easing CPI inflation and healthy IIP data. Also, the market participants may be hopeful for a pause in rate hike by Federal Reserve in its June meeting. The BSE Sensex rallied 418 points to 63,143, while the Nifty50 climbed 115 points to 18,716 and formed a Bullish Belt Hold kind of pattern on the daily charts, indicating the strong control by bulls over the Street. “The near-term trend of the market remains positive. One may expect Nifty to move above the hurdle of 18,800-18,900 levels in the next few sessions,” Any weakness from the highs could find immediate support around 18,500 levels, The broader markets also continued the northward journey, with the Nifty Midcap 100 and Smallcap 100 indices rising 1.22 percent and 0.7 percent, respectively on positive breadth.
