Indian market ended flat, with weak opening manage to turn flat and closed with minor loss. Cement stocks continue to witness selling pressure taking cues from Friday.
Wall Street ended mix with Growth stocks doing well, but inflation concerns are back in focus as Natural Gas prices hits record high @ $9.384. US 10-year back above 3% and near to high in May 2022, currently @ 3.05%.
SGX Nifty @ 16456 down 116 points at 7:55 AM
Approach on Indices: Next decisive move is expected tomorrow post RBI MPC policy outcome. Till Nifty is holding 16366 & Banknifty @ 34860 today’s dip could be buying opportunity, but expect event base volatility.
Defense stocks will be focus as Defense ministry approve 76k crore upgradation through indigenous companies. It could be big boost for domestic defense companies. Defense theme continue to remain robust – most of companies have order book 2x – 3 x of last year total Sales.