Wall Street had another muted session, as U.S. debt ceiling & regional banking crisis continue to drive sentiment.
KARNATAKA: Congress gets clear majority, there is divided view on its impact on national politics or LS 2024 election.
India’s CPI inflation data came @ 4.75 Vs estimate of 5.1% & previous month CPI data @ 5.66%. IIP data came @ 1.1%
Commodities trade lower: WTI Crude oil below $70 & Brent crude oil below $75. Copper, Aluminum & other metal trade lower.
F&O data: FII long: short position in index futures stands at 46.12%:53.88%. Nifty PCR @ 1.24 Vs 1.25 previous. Banknifty PCR @ 1.28 Vs 1.06 previous.
Market View: KARNATAKA election & global cues remain weak; we expect weak opening could see further selling pressure through the day. TATAMOTORS & DLF came out with result after market hours on Friday will be in focus – both companies have delivered positive surprise.
SGX Nifty @ 18279.50 down 44.50 points at 8:35 AM