ADANIENTER FPO subscribed fully, market sees sign of relief. FPO participation seen from family office of Indian corporates.
GST Collection at 1.56 lakh cores in January 2023 for the month December 2023, 2nd highest GST collection after October last year.
FII net seller in equity by 5439 crores, total sell figures for January 2023 are now at 41465 crores, highest sell figures in last 6 months.
Union Budget @ 11:00 AM, this is last full budget before general election next year.
VIX @ 16.88: cool-off below 16 likely.
Approach on Indices: today & tomorrow, indices will react to Budget & US fed meeting outcome. Nifty range expected in 17600 – 18100 & Banknifty range seen 40000 – 41500. We expect Indices to trade in this range, unless some major surprise.
Market View: We would prefer to go by strategy. We would prefer to keep cash level around 25% to 35% and take fresh view once budget is concluded. No bad news is good news.
SGX Nifty @ 17841.50 up 89.50 points at 8:30 AM