Wall Street had muted session with minor cuts as US FOMC meeting minutes revealed hawkish signal and indicated rate hike on 26-Jul-23, next US Fed meeting.
Reacting US FOMC meeting outcome, US 10-year bond yield is now trading a 3.95% & Dollar index at 103 indicates further rate hike expected.
Crude oil prices remain steady, WTI Crude @ $72 & Brent crude trading around $77 level. Base metal prices remain stable.
F&O data: FII added 4605 contracts in index futures, net long position now at 72.39%. Nifty PCR @ 1.37 Vs 1.47 previous. Banknifty PCR @ 1.08 Vs 1.38 previous.
Approach on Indices: GIFTNIFTY indicate flat to negative start, with weekly F&O expiry, today could be a day of big correction which is overdue for some time now. On lower side Nifty @ 19154 & Banknifty @ 44530 to act as strong support level.
GIFTNIFTY @ 19488 down 24 points at 8:00 AM