Bank of Korea hold rates,Asia markets rise as bitcoin hits $30000; Nik,27940/309/1.12% Dj,33587/101/0.3% Vix18.97/ 3.1% USstock futures are flat Monday evening as March inflation reports loom ahead,
Oil,80,slips as rate hike worries balance tighter supplies, Gold,2004.1, slides under $2000 as jobs growth lift dollar, Bonds, 3.407,yields little changed as traders wait key inflation data, Dollar, rises monday , signalling continued strength in US labor market, BC 29144/978/3.5%
Nifty:17624.05/24.9/0.14%;Candle:OGU,Doji; Bank Nifty:40834.65/-206.35/-0.5% Candle:OF,Short day red ; HB:OF,Short day red,1661,
News:The Indian equity benchmarks are expected to open flat or marginally higher today, as trends in the SGX Nifty indicate a mildly positive start for the broader index with a gain of 14 points after Nifty closed 24 points higher at 17,624 on Monday. SGX futures stood at 17,699. RBI signals possible extended pause in interest rates, but no imminent cut likely, The Federal Reserve may not need to raise interest rates further to fight inflation, as the fallout from last month’s turmoil in the banking sector and a series of recent labor data point to a slowing US economy, a BlackRock executive said on Monday. Gold retreated below the key $2,000 level on Monday as the dollar advanced on Friday’s strong US jobs numbers, while traders also positioned for inflation readings this week that could influence interest rate hikes. Rate hike expectations boosted the US dollar index on Monday and Tuesday, which weighed on oil prices as dollar strength makes oil more expensive for other currency holders. Oil inches up, weighing OPEC+ supply cuts against rate hike fears,
Events/Results:The National Stock Exchange has not added any stock to its F&O ban list for April 11.
Market wrap up(DWM,T,N,E):The market remained in positive terrain for six days in a row, though it was highly volatile session on April 10. Auto, technology, metal and oil & gas stocks supported the market, whereas selling was seen in banking & financial services, and FMCG stocks. The BSE Sensex gained 13.54 points to close at 59,847, while the Nifty50 closed above the 17,600-mark for the first time since March 8, rising 25 points to 17,624 and formed small bodied bearish candle with long upper shadow on the daily charts, indicating selling pressure at higher levels. “This pattern indicates a tiredness of bulls at the crucial hurdle of 17,600-17,700 levels, which are opening downside gap of March 10 and down sloping trendline, connected from the top of December 2022. This pattern could be a minor setback for bulls for the short term,” there is a possibility of minor downward correction from the highs, but the short-term trend of Nifty remains positive. “The presence of crucial overhead resistance and an emergence of minor weakness from the highs could indicate further consolidation or minor downward correction for the Nifty from near 17,650-17,700 levels in the coming sessions. Any dips from here could be a buying opportunity and immediate support is at 17,510 levels,” The broader markets also extended gains, with the Nifty Midcap 100 and Smallcap 100 indices climbing 0.4 percent and 0.3 percent, respectively.
