Global Events
World Markets.
US Market Mixed
Dow UP 70 (+0.15%)
NASDAQ Down 57 (-0.25%), S&P Down 39 (-0.56)
European Market Negative
FTSE Down 154 (-1.48%), CAC Down 122 (-1.52%),
DAX Down 390 (-1.64%)
Asian Markets Positive
Nikkei UP 167 (+0.30%), Hang S. UP 253 (+1.00%),
Taiwan UP 68 (+0.20%), Kospi Down 81 (-1.44%), Shanghai UP 6 (+0.14%),
St.T Down 13 Points (-0.26%)
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US, Europene and Asian all markets in RED ZONE
Brent Crude cool off 1% and at 84 $ per barrel
Gold & Silver down, Metal steady
US allowed India to buy Russian crude for 30 day
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US President Donald Trump told Axios that he needs to be personally involved in selecting Iran's next leader, as he claimed that Khamenei's son is unacceptable to him.
The US has issued a temporary license allowing certain Russian oil shipments to reach India for 30 days. The move gives India more flexibility in securing fuel as the growing conflict in the Persian Gulf threatens supplies from a key oil-producing region: Bloomberg
The Challenger Job Cuts report showed that US-based employers announced 48.307K job cuts in February, down 55% from 108.435K in January. Also, Initial Jobless Claims for the week ended February 28 rose by 213K, matching the previous reading but below the expected 215K.
European Central Bank (ECB) published the Monetary Policy Meeting Accounts, which showed that policymakers are relatively confident about the inflation trend, highlighting persistent uncertainty. Traders boost bets on an ECB rate hike to a 75% chance this year.
Richmond Fed President Thomas Barkin added that recent inflation data raises questions about whether the central bank has fully subdued price pressures. He added that sticky inflation and solid jobs data could shift the risks outlook for the Fed.
US economic docket will feature February’s Nonfarm Payrolls report with markets expecting the economy to add 59K people to the workforce and the Unemployment Rate to remain steady at 4.3%.
Money markets had priced in 35 basis points of Fed easing towards the year’s end, according to Prime Market Terminal data.
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Gift Nifty Down 148 (-0.60)
Dow Future UP 84
Nasdaq Future UP 18
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Domestic Events
Dollar Down 0.08 at 98.98
Rupees UP 0.56 paisa to close at 91.60 against US$
Sector Watch
Pharma, PSU Banks, OMCS, Healthcare, Liquer, Shipping, Realty, Chemicals, Hospitality
Sector Avoid
IT, NBFC, PVT Bank, Auto, Telecom, Logistics, Paints, Tyres
Indian Markets Trend
With gapdown start, Markets to remain under pressure in near term
Nifty-50 likley to breach 24,600 & Sensex 79,500 levels
However recovery may seen with short covering later on
Overall markets to remain highly volatile during the session
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ALL EYES ON...
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Primary Markets
Omnitech Engg. IPO listed with 10% discount
Innovision IPO to open on March 10
Sedemac Mechatronics IPO booked 46% on Day 2, Today is last day
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Today Listing
Striders Impex (NSESME)
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Q-3 Results
AYE Fin and Quality walls
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