Wall Street was down by 0.73% to 1.02%, ALPHABET slips in trade as AI chat boat concern and US 2–10 years yield curve inverted by 85-bps points indicating fresh economic worries.
MSCI review: weightage reduce in select ADANI group stocks, changes effective will be 28-Feb-23. ADANIENT, ADANITOTAL, ADANITRANS & ACC sees FIF factor reduction.
MSCI global standard index: BANKBARODA & CGPOWER added and BIOCON removed.
VIX @ 13.04: within comfortable level.
Approach on Indices: Indices broadly trading in range, today’s indictive opening is around 80 – 100 points gap-down. Indices today could accelerate downside momentum as trade setup remains weak.
Market View: market failed to build on any positive news or positive momentum. Current trend do indicate mix cues with negative bias. We would prefer to wait and use any rally to reduce position.
SGX Nifty @ 17835 down 95.50 points at 8:20 AM