Wall Street closed lower as forecast from Home Depot was disappointing. U.S. Retail sales & Core retail sales came below market expectation.
Chinese yuan breaches 7 level, cast doubt on post COVID economic recovery. Recent drop in YUAN comes at disappointing economic data. JAPAN prelim GDP q/q beat market estimate, Japanese stocks rises on positive data.
BHARTIARTL result mix, Profit beat market estimate, ARPU @ 193, Revenue growth and EBITDA came below market estimate.
F&O data: FII after 1 day of short covering, again added net short in Index futures. Nifty PCR @ 0.90 Vs 1.35 previous. Banknifty PCR @ 1.05 Vs 1.42 previous.
Approach on Indices: SGX Nifty indicate weak opening by 40 – 50 points, we expect indices to remain soft ahead as profit booking expected to test lower level on Nifty @ 18137 & Banknifty @ 43181. RSI on Indices moved below 70 level indicate further correction.
SGX Nifty @ 18289 down 40.50 points at 8:00 AM