🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

US CPI, Karnataka Exit Poll Results Closely Watched by Indian Market

Published 10-05-2023, 02:59 pm
© Reuters.

By Malvika Gurung

Investing.com -- Indian equity benchmark indices traded marginally higher in the last hour of Wednesday’s intraday session, with Nifty50 up 0.08% at 18,280 and Sensex advanced 0.4 points.

Domestic market fear barometer India VIX jumped 4.9% in the session to 13.29 levels and was up 3% while writing.

Investors on Dalal Street will closely await the US inflation data for April 2023 set to release at 6 pm Indian Time on May 10, 2023, by the Labor Department, along with the Federal Reserve’s next course of action on the interest rate front.

In a note provided to Investing.com, Dr VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, stated that the US CPI data will be more important from the market perspective, adding that if the disinflation trend continues, it would be a ‘shot in the arm for equity markets globally’.

The market will also closely watch the Karnataka exit poll results in the evening today.

“A congress victory in the elections is unlikely to impact the market much, but an unexpected setback to the BJP may slightly impact near-term sentiments,” added Vijayakumar.

Read Also: Nifty Only 3% Away From All-Time High of 18,887: Key Driver and Trend?

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.