Asia markets to rise as investors digest the Fed’s hawkish pause in rate hikes, Nik, 33579/84/0.26% Dj,33980/-232/-0.68% Vix13.88/-5% ; US stock futures are little changed
Oil,69.22,rises as market awaits fed interest rate decision, Gold,1969.3,gains before fed policy decision,as US data shows inflation slow down, Bonds,3.792, yields dip ahead of Fed announcement, Dollar, backs down as traders price in a fed skip, Bc25966/75/0.3%
Nifty:18755.9/39.75/0.21%;Candle:OGU;Doji, Bank Nifty:43988/-91.85/-0.21% Candle:OGU,Short day red, ; HB:OGU,short day red,1602,
News:The SGX Nifty indicates a marginally lower start for the broader index with a loss of 11 points on Thursday. SGX futures stood at 18,823. Fed keeps rates unchanged for first time in 15 months but signals 2 more potential hikes this year, Bain Capital to sell stake up to $267 million in Axis Bank via block deal: Sources,
Events/Results:The National Stock Exchange has added Zee Entertainment Enterprises to its F&O ban list for June 15 and retained BHEL, Delta Corp, Indiabulls Housing Finance, Indian Energy Exchange, India Cements, and Manappuram Finance
Market wrap up(DWM,T,N,E):The market saw some consolidation after a day of sharp uptrend and closed the session on a positive note on June 14, ahead of the interest rate decision by the Federal Reserve tonight. Most experts expect the Fed to maintain the status quo, The benchmark indices continued their upward journey for the third consecutive session. The BSE Sensex rose 85 points to 63,229, while the Nifty50 climbed 40 points to 18,756 and formed a Doji sort of candlestick pattern on the daily charts as the closing was near its opening levels. “Currently, the market is placed at the hurdle of 18,800 levels and is showing lack of strength to witness any decisive upside breakout of the same,” The positive chart pattern of higher highs and lows is intact as per the daily timeframe chart. Further upmove above 18,778 levels with a lack of strength could possibly result in another higher top formation for the short term and that could bring the next round of short-term weakness for the market, However, a decisive move above 18,800-18,900 levels could open further upside into all-time highs, while immediate support is placed at 18,625, The broader markets also continued the upward trend with the Nifty Midcap 100 and Smallcap 100 indices closing with moderate gains.
