Ahead of Market: 10 things that will decide D-Street action on Thursday
Here's how analysts read the market pulse:
«The domestic indices resumed their upward trajectory despite weak global cues. The cooling of domestic CPI inflation to 6.83% in August and the rise in industrial production data reaffirmed the robustness of the Indian economy.
The contraction in the UK economy and rise in oil prices have created a level of uncertainty in the global market. Also, investors await US inflation data today, which holds global significance as it will provide insights into the Fed's policy outlook,” Vinod Nair, Head of Research at Geojit Financial Services, said.
“After a promising rally, Nifty witnessed range-bound activity near the 20,000 mark.
On daily charts, it has formed an inside body candle which indicates indecisiveness between the bulls and bears. For traders now, 19950-19000 would act as key support zones while 20100-20150 could act as key resistance levels for the bulls,” Shrikant Chouhan, Head of Research (Retail), Kotak Securities, said.
That said, here’s a look at what some key indicators are suggesting for Thursday's action:
US market
Wall Street's main indexes rose on Wednesday as data showing a moderate increase in consumer prices in August raised hopes the Federal Reserve could leave interest rates unchanged in its September policy meet.
The Fed is likely to cut rates only from April-June next year, a Reuters poll showed.
Yield on the two-year Treasury note, which best reflects short-term interest rate expectations, hovered around 4.9967%.
At 9:47 a.m.
