Wall Street recovered by 1.06% to 2.14% as CPI & Core CPI inflation data came in-line with market expectation.
US CPI inflation data @ 6.0% Vs estimate of 6.0%, previous @ 6.4%.
US Core CPI data @ 5.5% Vs estimate of 5.5%, previous @ 5.6%.
F&O Data: Nifty PCR @ 0.69 Vs 0.71 previous. Banknifty PCR @ 0.59 Vs 0.51 previous. FII net long @ 13.26% in Index futures. F&O data indicate highly – market is in highly oversold zone.
Approach on Indices: Indices are due for technical bounce, supported by global cues. Nifty @ 17255 & Banknifty @ 39970 now could act as resistance zone.
SGX Nifty @ 17203.50 up 92 points at 8:05 AM
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