US economic data on Friday came mix to weak: Initial reaction to data was positive but ended the day with over 1% cut on closing basis and more than 2% cut from day’s high on Friday.
UK to declared result of next PM candidate, Liz Truss likely to be next PM of UK.
Protest erupts in Europe over as high energy prices against staying in NATO and how leadership have approached Russia-Ukraine crisis. ECB meeting on 8-Sep-22 is expected to raise rates by 75-bps.
Approach on Indices: Nifty range @ 17166 to 17775 & Banknifty range 38200 – 39700, clear break-out from this range is awaited.
Market View: Mid-cap & Small-cap continue to remain resilient as we expect that trend to continue. Fresh positional buy review around 17023 level or upper end of the range in broken on Nifty @ 17775.
SGX Nifty @ 17511 down 28 points at 7:55 AM