Asia markets fall as wall street marks four day losing streak on banking woes, Nik,29158/35/0.12% Dj,32128/-287/-0.86% Vix20.09/9.5% US stock futures rise slightly following apple earnings, BC 28849/477/1.7%
Oil,68.65, Gold,2056, Bonds,3.384, Dollar, dips , euro dips after cautiuos ECB
Nifty:18255.8/165.95/0.92%;Candle:OF,Short day green; Bank Nifty :43685.45/372.75/0.86% Candle:OF,Short day green ; HB,OF , Long day green,1727.8,
News:SGX Nifty indicates a negative start for the broader index with a loss of 71 points after the Nifty closed 165 points higher at 18,255 on Thursday. SGX futures stood at 18,250. Economic slowdown looms on Nifty earnings: BofA maintains the target at 18,000 , Britannia may sweeten Q4 topline with 13% growth, led by price hikes, market share gains,
Events/Results:
Britannia Industries, One 97 Communications, Adani Power, Ajanta Pharma, Alembic Pharmaceuticals, Bharat Forge, DCB Bank, Equitas Small Finance Bank, Federal Bank, Gujarat Fluorochemicals, Marico, Olectra Greentech, Piramal Enterprises, Sundaram-Clayton, Symphony, Tata Investment Corporation and Windlas Biotech will be in focus ahead of quarterly earnings on May 5.
Union Bank of India, Bank of India, 3i Infotech, ADF Foods, Aether Industries, Computer Age Management Services, Gujarat Ambuja Exports, Greenpanel Industries, Grindwell Norton, TVS Electronics, and Zen Technologies are going to be in focus ahead of quarterly earnings on May 6.
Coal India will release quarterly and full-year earnings on May 7.
The National Stock Exchange has added GNFC and retained Manappuram Finance to its F&O ban list for May 5.
Market wrap up(DWM,T,N,E):The market rebounded smartly after a correction in the previous session and closed nearly 1 percent higher on May 4, after the US Federal Reserve hiked rates by 25 bps and signalled a potential pause in the rate hike cycle. “Two days’ consolidation provided a much-needed breather before the further rally. The current uptrend might remain in force as long as it sustains above 18,200,” On the higher end, the rally might extend towards 18,500, The rally was driven by banking and financial services, metal, technology and pharma stocks, while the broader markets also participated in the run-up as the Nifty Midcap 100 and Smallcap 100 indices gained 0.6 percent and 0.8 percent respectively.
