Wall Street witness sharp fall after US Fed chair Jerome Powell testimony, his comment does raise concern on interest rate peak could be higher as compared to December estimate of 5.61%.
Indian met department expect strong heat wave this summer, power stocks in focus as demand in summer could surpass all previous records.
VIX @ 12.27: heading towards 14 level.
Approach on Indices: SGX Nifty indicate opening around 17700, Nifty could find support @ 17591 & Banknifty @ 41070, we expect indices to take support from this level and expect bounce.
Market View: as global sentiment has impacted due to US Fed chair Jerome Powell testimony and going into central bank’s policy which starts from 9th & 10th March by Bank of Japan meeting outcome.
SGX Nifty @ 17700 down 153 points at 8:55 AM