Wall Street ended the day flat after big drop seen yesterday after WALMART result. US FOMC meeting minutes released yesterday had little impact on market.
US FOMC Meeting minutes: all Fed official backed 25-bps hike, few officials could have favour 50-bps rate hike, saw ongoing rate hike appropriate.
RBI MPC Meeting minutes: rate hike should be tapered but pausing it would be pre-mature, says Governor Das.
VIX @ 15.59: need to turn further cautious above 16 level.
Approach on Indices: SGX Nifty indicating positive opening of around 40 – 50 points, Nifty & Banknifty closed at lowest level since ADANI story broke on 24-Jan & Budget on 1-Feb-23. We expect these levels could hold, in any case of Indices weaken below this level could see further downside.
SGX Nifty @ 17605.50 up 48.50 points at 8:20 AM