News and Impact     ·         Expects market to open on a posi | SKM INVESTMENT

News and Impact
 
 
·         Expects market to open on a positive note on account of strong opening Asian markets and US markets managed to ended flat to negative note on a volatile trades. Market expects that the soaring global inflation had already factor in the markets. US 10-Year bond yield fell to 2-week low at 3.14% and Dollar declined to $104 from the recent high $106 which may relief to the global markets. SGX Nifty is up quarter percent. Across the commodity from oil (1-month low) to cooper (16-month low) declined sharply as concern over a global economic slowdown intensified, with Federal Reserve Chair Jerome Powell warning a US recession is possible. Back home, fall in oil price and expectation of good monsoon will be positive for the market. However, traders buy on decline strategy in the market and avoid aggressive buying interest. Continued FIIs selling and USDINR surged to record high is a major concern in the market. Expects negative on metal stocks on account of sharp decline base metal price on PME. Expects positive for FMCG stocks on account of fall in oil price and benefit of cut in palm oil price
·         Asian stocks were mixed on Thursday as investors parsed the economic and monetary-policy outlook after the US Federal Reserve Chair Jerome Powell acknowledged the risk of a recession. Shares gained in Japan, Hong Kong, South Korea and Australia between half to one percent.
·         A choppy day of trading on Wall Street ended with a modest pullback for stocks Wednesday, the latest bout of volatility for the market amid concerns about inflation and uncertainty over whether rising interest rates will help or hinder the economy. Dow Jones declined marginally by 50 points (0.2%) while fell nearly 1% from the intra-day high. Nasdaq Composite declined marginally
·         European stocks fell back into the red on Wednesday, snapping a two-day winning streak, as the UK reported a 40-year inflation high, consumer confidence fell further in the eurozone and Switzerland's economic growth prospects were trimmed. UK, France and Germany Index declined nearly 1% each.
·         Oil retreated along with other key commodities as concern over a global economic slowdown intensified, with Federal Reserve Chair Jerome Powell warning a US recession is possible.
·         Gold held gains as the dollar and bond yields sank on growing concerns about an economic downturn, after Federal Reserve Chair Jerome Powell vowed to curb inflation and said that a recession could be a possibility. Gold gained half percent to $1834/ounce.
·         Actionable -  LIC Housing, Tata Consumers, LIC India, Delhivery, HAL, Asian Paints, Hindustan Unilever.
·         Brokers Radar – Bharti Airtel TGT by Credit Swiss at 900, Bank of America TGT on Hero Motocorp at 3000, Tata Motor TGT by Credit Swiss at 438, Tata Steel TGT by JP Morgan at 1400,
·         Events –   Zydus Life share buy-back, Weekly Nifty and Bank Nifty expiry,  Dalmia Bharat dividend Rs5, BSE dividend Rs13.5, Nath Bio dividend Rs2, Happiest Mind dividend Rs2, CAMS – Dividend Rs12
·         Global Data – Initial Jobless Claims, Manufacturing PMI, Service PMI and Composite PMI. (US)., Manufacturing PMI, Composite PMI and Manufacturing PMI (UK, France and Germany)
·         Market Summary – Carlyle Unit Acquires 24.04% Stake in Bharti Airtel Arm Nxtra, Zomato board likely to approve Blinkit acquisition, Delhivery to Expand Infrastructure in Greater Mumbai, ICICI Bank revises FD rates on select tenors, GAIL to Enter Distributed LNG Production Business, M&M Finance and BigHaat join hands to empower the lives of the farmer community
·         Ashok Leyland's EV arm aims for IPO after 2025, CEO says. Ashok Leyland is all set to get aggressive in the electric commercial vehicle space.- positive