Wall Street had another weak to flat session as jobs data were strong and market corrected on strong jobs data. Fed fund rate monitor tool indicate 91% probability of 25-bps rate hike in next US Fed meeting.
Reliance Industries will be in focus as it approved buyback of Reliance retails shares at 1362 per share. Reliance retail in fully owned subsidiary of Reliance industries and unlisted and only minority shares are in public.
HAL wins deal of 458 crores from defense – Indian Navy for 2 helicopters. Defense minister on 3-day visit to Malaysia.
F&O data: FII sold 11244 contracts in index futures, net long position remains at 70.44%. Nifty PCR @ 0.89 Vs 1.48 previous. Banknifty PCR @ 0.75 Vs 1.12 previous.
Approach on Indices: GIFTNIFTY indicate flat to weak opening, Nifty @ 19181 & Banknifty @ 44228 likely to be tested and key support level.
GIFTYNIFTY @ 19422.50 down 35.50 points