Wall Street stabilized and saw modest recovery following worst sell-off in two years, owing to higher than expected inflation print. Dow closed just above flat line, S&P added 0.34% and Nasdaq outperformed with gains of close to 0.74%.
USD index and 10 year eased a bit on Wednesday while dollar index traded lower near 109.60, 10 year saw a move towards 3.40%, Cboe Vix also eased near 26.11.
Crude futures inched up a bit, WTI moved near 89, Brent above 94.
Indian stocks turned choppy following leads from Wall Street. Market saw a big opening gap down, recovered full ground to trade in green post WPI print but closed a tad lower towards the end. Nifty managed to close just above 18000, Sensex lost 225 points at close.
*Stocks may continue to trade with volatile bias on mixed global cues and weekly options expiry. Continuation of rotational bias may help participants to have profitable trades on either side. Buying weakness and selling strength till FED / RBI action on rates is done with, will help participants to maintain head above water.*
_(prices as on 4.27 am IST)_
• India Concerned Over US Sustenance Deal for Pakistan F-16 Fleet
• India Aug. Trade Deficit at $27.98b, Est. -$28.089b
o Exports rose 1.62% y/y to $33.92b
o Imports rose 37.28% y/y to $61.90b
• India Exporters Group Sees Rupee Trade With Russia Starting Soon
• Billionaire Adani’s Unit Eyes Acquisitions to Push Food Business
o Co will use IPO proceeds, internal accruals and capex
• Engine Catches Fire on Air India Express Boeing 737-800 in Oman
• India Cumulative Monsoon Rainfall 6% Above Normal as of Sept. 14
• DHL Supply Chain to Invest $500M in India Over Five Years
• Foxconn Unit Keen on Electric Vehicle Market in India
• OIL TENDER: INA Seeks Term Supplies of Non-Russian Diesel
• Global Funds Sell Net INR14B of Indian Stocks on Wednesday: NSE
o Domestic funds buy net 1.88b rupees of stocks
• Modi, Xi, Putin among top leaders to attend first in-person SCO summit: PTI
• India-China disengagement at Patrolling Point 15 “one problem less” on border: Jaishankar: PTI
• India has decided to authorise SBI to promote rupee trade with Russia, FIEO president: PTI
• Adani Ports (ADSEZ): Adani Ports’ Capex Plans Support Growth Ambitions: Citigroup
• Bosch (BOS): Bosch Mexico to Build New Manufacturing Plant in Queretaro
• HFCL (HMFC): Gets INR4.48b advance purchase orders from BSNL, Railtel
• State Bank of India (SBIN): Keeps MCLR-based lending rates unchanged in Sept.
• Tata Consultancy (TCS): Launches Mobility Cloud Suite for Automotive Enterprises
By: via @AlliesFin Serve Stock Market
