Wall Street continues to react negatively to hawkish US Fed and F.A.A.N.G. stocks continue to drift lower.
AMAZON closes @ $89.30, lowest level since March 2020. META (Facebook) @ $88.91 lowest level since 2015. MICROSOFT closed lowest level since Jan-21.
BOE – Bank Of England raised interest rate by 75-bps to 3.00%. BOE comments were dovish and guided for lower quantum going ahead.
VIX @ 15.94: within comfortable zone of 15.50 – 17.
Approach on Indices: Indices on downside is showing resistance as global news continues to remain negative, Nifty around 18100 & Banknifty around 41500, hope of break-out looks possible.
Market View: Global cues remain negative, domestic cues remain positive, even on bad day of global cues, FII have remain buyer for 3rd straight day of this month.
SGX Nifty @ 18121.50 up 7 points at 8:20 AM