Wall Street was down by 0.65% to 1.01% as economic worries continues to weigh on sentiment. Rate hike of 50-bps to 5.00% by BOE surprised market participant.
Russia’s political crisis seems to be de-escalated over the weekend but may continue to remain an important geo-political event to watch out for, crude oil rises on Monday morning as supply may be impacted.
SGX Nifty indicate flat opening going into trade on Monday morning for final F&O expiry for June series.
VIX @ 11.24: continue to trade near lower end of the range.
Approach on Indices: Technical do indicate further correction and consolidation and Nifty @ 18567 & Banknifty @ 43314 could act as important support level, below these indices could witness further downside.
Market View: There are very little cues from global as well domestic market as indices continue to trade in narrow range, Mid-cap & Small-cap corrected after 12 weeks of gain and we think further correction in Mid-cap & Small-cap likely.
SGX Nifty @ 18718 up 3 points at 8:25 AM