US CPI came at 9.1% Vs estimate of 8.8%, highest since 1981. Wall Street cut their opening loss. Nasdaq was down only by 0.15% as growth stocks is absorbing inflation news.
Fed rate monitor tool indicate more than 75% chances of 100 bps hike by US Fed on 27-Jul-22.
Mindtree delivered result above street estimate: Revenue up by 7.7% on quarterly basis, margins up 19.17% Vs 18.94% previous and beat market estimate.
Nifty: closed @ 15966, near support level of 15970. If Nifty manages to hold on to 15970 level on closing basis – It will be positive for short term up trend. Next support comes at 15803 near 20-DMA @ 15777.
SGX Nifty @ 15941 down 31.50 at 7:55 AM.
Click on the attachment to read the full report: