Wall Street ended with positive gains, corrected from day’s high on growth uncertainty. Wall Street recovering from yesterday’s fall after treasury secretary Janet Yellen ‘c comment.
ECB hikes rate by 25-bps to 4.25% in-line with market expectation. BOE 9-members voted 7-2 in favor of rate hike. BOE guided for sharp fall in prices in April to June period, despite inflation jump to 10.4% in February.
Accenture result: lowered next year growth guidance from 8% – 11% to 8% – 10%. ACCENTURE to cut 19000 jobs. Accenture Q2 result was above market estimate.
VIX @ 14.49: continues to trade in 14 – 16 range.
Approach on Indices: Indices continue to trade in range as any up-move attempt is countered by selling pressure. Nifty range seen 16900 – 17200 & Banknifty range seen 39100 – 40000.
SGX Nifty @ 17048 down 35.50 points at 8:15 AM