KARNATAKA exit poll shows hung assembly, JDS could be king maker, Election result on 13-May-23, Saturday.
US CPI @ 4.90% Vs estimate of 5.0% Y/Y. Core CPI @ 5.5% Vs estimate of 5.5%. Core CPI in-line and CPI inflation lowest growth cheered market.
Wall Street ended mix, NASDAQ was up above 1%, US 10-year bond yield cooled-off to 3.425% below 3.50%, indicating pause in June Fed meeting.
China’s CPI rose 0.1% on annualized basis – Vs expectation of 0.4% rise. China’s data shows limited recovery after re-opening.
VIX @ 13.08: towards 14 level ahead of election result on 13-May.
Approach on Indices: Indices after consolidation may attempt fresh up-move on back of lower US inflation data. Today, it will be weekly index option expiry. Nifty range seen 18300 – 18400 & Banknifty range seen 43200 – 43700.
SGX Nifty @ 18388.50 up 30 points at 8:00 AM