In the coming days, the market may react to some major macroeconomic data such as US S&P Global manufacturing and services PMI, initial jobless claims, building permits, crude oil inventories, existing home sales, FOMC policy outcomes, UK and Eurozone inflation, among others, Nanda said
"As we step into a new month, the market is brimming with various domestic and global macroeconomic indicators expected to sustain its momentum," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart. Technically, Nifty is trying to create a base around the 19,200 level, but it has to cross the 19,600 resistance level to resume its bullish momentum, Gour said, adding that above 19,600, one can expect a move towards the 19,650–19,700 zones. He sees the crucial support level at 19,191, followed by the next support at 18,888.
(Bloomberg) Asian stocks turned lower Friday amid elevated bond yields following a spate of central bank rate hikes.Most Read from BloombergTitanic Sub Crew Dead After Vessel’s Catastrophic ImplosionThese Are the World’s Most (and Least) Liveable Cities in 2023Titanic Sub Search Chases Mystery Noises as Air Runs LowDebris Found Near Titanic Wreck in Search for Missing VesselModi Meets With Elon Musk and Ray Dalio as Global Money Flocks to IndiaJapanese shares erased initial gains as investors
(Bloomberg) US and European equity futures fell Thursday after Federal Reserve Chair Jerome Powell warned of further rate hikes and as investors awaited a swathe of central bank decisions from the UK to Norway and Switzerland. Futures for the Euro Stoxx 50 fell around 0.9% to place the region-wide benchmark on track for a fourth consecutive session of declines. Contracts for the S&P 500 and Nasdaq 100 also drifted lower after the two benchmarks fell for a third consecutive session Wednesday. The action precedes a busy day for central banks, with monetary policymakers in England, Switzerland and Norway all expected to raise interest rates. Investors are rethinking the bullish spirits unleashed by last week’s Fed rate pause after Chair Jerome Powell underscored the need to tame inflation during his semi-annual report to Congress. Powell warned that higher rates were needed and two more rate hikes this year was “a pretty good guess.” Separately, Atlanta Fed President Raphael Bosti