Wall Street closed mixed as U.S. lawmaker oppose deal to raise the $31.4 trillion debt ceiling limit, market gets support from NVIDIA as the chipmaker company entered rare club of $1 trillion valuation.
Crude oil down 4% overnight as market now factors in another 25-bps rate hike by US Fed on 14-Jun-23. WTI Crude oil below $70 & Brent crude below $75.
MSCI changes will be effective today, expect major volatility in last 30 minutes. KOTAKBANK, HAL, MAXHEALTH & SONACOMS in focus.
China’s manufacturing PMI for May shrinks further, puts question on economic recovery post re-opening from stringent lock-down.
Approach on Indices: Indices trading near resistance zone after rally on Monday & Tuesday, going into trade on Wednesday is indicating 60 – 70 points gap-down opening, we expect profit booking to accelerate around Nifty @ 18499 & Banknifty @ 44018 support level.
SGX Nifty @ 18661.50 down 68.50 points at 8:15 AM