INR dips below 80 level mark against US Dollar. INR closed at 80.9175 as USD gets strong against most currency on back of US Fed.
Accenture Result: will fail to cheer IT stocks. Guided for 8% to 11% full year guidance. Operating margin at 15.3% to 15.5%.
FMCG & AUTO stocks performed well as IT & Banks dragged the market. Banking stocks corrected as higher interest rate globally.
Approach on Indices: Nifty @ 17510 & Banknifty @ 40354 could be tested again today. Going into final F&O expiry for September series, we expect indices to take support on Nifty @ 17510 & Banknifty @ 40354 to support next round of rally.
Market View: Going into trade today, SGX Nifty indicate weak opening and lower level will be tested. US Fed meeting outcome have provided much needed correction and we would prefer it to use it for going long with fresh allocation.
SGX Nifty @ 17568 down 72 points at 7:45 AM.