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Daily Report 15-May-23

Indian market on Friday a muted session, Banknifty outperformed ahead of CPI inflation & IIP data. VIX remain stable ahead of KARNATAKA result on 13-May-23.

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.

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 

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