Wall Street had another quite session as J&J and Goldman Sachs disappoints while tech stocks supported. US market closed flat as market awaits further clarity on interest rate by US Fed.
Government increase windfall tax on Crude oil production to 6400/- per ton from Nil as on 4-Apr-23. No windfall tax on Diesel, Petrol & ATF.
Market going into Wednesday with no major cues from domestic or global market.
VIX @ 12.08: trading near lower end of the range.
Approach on Indices: Indices are stuck in narrow range as market wait for clear directional move. Market in last 8 – 12 trading session has rallied by 5% – 7% without any major correction. Any consolidation / correction would be healthy and would prefer to take fresh entry. Nifty @ 17489 & Banknifty @ 41331 are levels we are watching out for.
Market View: Global cues are muted as next action by US Fed keeps market on sideways, so far corporate earnings in IT has been disappointing and many companies are due to announce result in next 6 – 8 trading days.
SGX Nifty @ 17714.50 down 7 points at 8:15 AM