US average hourly earnings rise by 4.6% Vs estimate of 5.0% October & November hourly earnings was also revised downward.
Wall Street rallied over 2% as Friday’s jobs data was mixed. Market witness gradual gains during the course of the day on Friday ahead of important inflation data on Thursday.
China re-opens its zero COVID policy, easing of one of the world’s tightest COVID regimes.
TCS Q3FY23 expectation: Expected to report 12.4% growth in Net profit and 16.7% growth in revenue, going into result with low expectation.
VIX @ 15.02: within comfortable range of 14 – 16.
Approach on Indices: Now last Friday’s low on Nifty @ 17795 & previous low 17775 & on Banknifty, Friday ‘s low @ 41877 & previous low of 41597 to act as major support.
Market View: First gap-up opening may see some profit booking, but we expect market should hold on to gains and later build up on gain in 2nd half going into TCS result. Metal stocks could do well on China ‘s reopening from COVID restriction.
SGX Nifty @ 18090 up 131 points at 8:05 AM