Chip maker MICRON & NVIDIA in US have guided for slowdown in demand going forward. US President Biden signs $280 billion chip act into law. To boost U.S. over China.
US CPI is expected to soften & Core CPI expected to continue to rise. Before next US Fed meeting, inflation data of September will also be released.
Approach on Indices: Friday’s move shows fresh round of up move, although Indices in over-bought zone, fresh round is dependent on today’s US Inflation data.
Stocks in focus: BHARTIARTL & TATACHEM on result reaction. HINDALCO, IRCTC & COALINDIA – result due today.
SGX Nifty @ 17505.50 down 35 points at 8:05 AM
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