Wall Street had relief rally as FRC continues to decline, FRC closed at fresh low @ $12.18 down by $10.85 or 47.11%. UBS recovers from early correction on fear as Credit Suisse takeover could downgrade.
Gold touches $2000, seen back post Russia-Ukraine crisis as financial crisis feared. Gold prices in India touches above 60000 level mark.
US Fed meeting 22-Mar-23: market factoring 72.3% probability of 25-bps hike. US Fed chair commentary will be important to watch on backdrop on ongoing banking crisis.
F&O data: Nifty PCR @ 0.83 Vs 0.87 previous. Banknifty PCR @ 0.78 Vs 0.83 previous. FII net long now at all-time low of 8.62%.
Approach on Indices: SGX nifty indicate 70 – 80 points gap-up opening, Nifty @ 16669 & Banknifty @ 37387 remains bargain buying level depends on event outcome 22-Mar-23, Indian market will react on 23-Mar-23. Indices likely to consolidate in near term.
SGX Nifty @ 17099 up 74.50 points at 7:45 AM