Dalal Street Week Ahead: Stay cautious of low levels of VIX which leave market exposed to profit-taking bouts
Going by the derivatives data, there is a high accumulation of the OI near 19800-19900 levels. Going by this data, one can expect the markets to find stiff resistance near that zone over the coming days even if the current uptrend is to extend itself.
Three big US banks rake in better-than-expected profits
The largest bank in the nation, JPMorgan Chase & Co., led the way with $14.5 billion in profit, helped by growth virtually across the board, including increases in lending and credit-card transactions. Wells Fargo pulled in $4.9 billion and Citi earned $2.9 billion. All of the earnings were higher than analysts had expected.
Container Corporation to exit F&O segment effective September 29: NSE
Last week, the Delhi Bench of the National Company Law Tribunal had admitted an insolvency petition against the government-owned logistics company by an operational creditor Roadwings International Pvt Ltd.
Gold riding on US disinflationary trends; US retail sales and housing data in focus
Meanwhile, US inflation print released during the week prompted further pain for the greenback. In the recent Beige book survey, the Federal Reserve said the US economy has shown an overall increase in activity since late May, though most regions expect the pace of expansion to weaken.
Latest inflation data promising, but still high: Fed’s Goolsbee
Fed officials are expected to raise rates by 25 basis points at their meeting this month after pausing their 15-month tightening campaign in June while at the same time indicating that two more increases were likely this year.
Bond yields may rise by 4-11 bps in Q2 on oil price, Inflation: Crisil
Yield on the 10-year benchmark government bond could move up 4 basis points (bps) in the three-month period, while the change for corporate and state bonds could be as much as 11 bps, it said.