Index and Stock Views


March 09, 2023



On Wednesday, the S&P 500 index had a small increase in a session that lacked a clear direction, while Treasury yields saw a slight rise. This happened as various economic data were released, which seemed to support Federal Reserve Chairman Jerome Powell's comments during his second day of congressional testimony. Powell reiterated that the central bank would continue to gradually increase policy rates until inflation has subsided.

The Dow Jones Industrial Average declined by 58.06 points or 0.18 percent, closing at 32,798.4. The S&P 500, on the other hand, increased by 5.64 points or 0.14 percent, closing at 3,992.01. The Nasdaq Composite had the strongest performance, adding 45.67 points or 0.4 percent, closing at 11,576.00



On Thursday, Asia-Pacific shares experienced an overall rise, driven in part by the start of the Bank of Japan's two-day monetary policy meeting. Investors were keeping an eye out for any potential policy changes that may come alongside the final meeting for BOJ governor Haruhiko Kuroda.

Japan's Nikkei 225 increased by 1 percent, while the Topix climbed by 0.84 percent in its first hour of trade. The Kospi inched up by 0.2 percent, and Australia's S&P/ASX 200 was trading at the flatline.



Trends in the SGX Nifty indicate a flat opening for the broader index in India with a gain of 7 points. The Nifty futures were trading around 17,807 levels on the Singaporean exchange.

BUZZING STOCKS: Bharat Forge, Kirloskar Oil Engines, Ramkrishna Forgings, Jindal Stainless and Shoppers' Stop, SeQuent Scientific, Arunjyoti Bio Ventures and ISMT in news today



1. On Wednesday, oil prices experienced a decline due to concerns that the United States' more aggressive interest rate hikes could lead to economic growth and oil demand pressure, outweighing a larger-than-expected draw in US crude stocks.

2. Brent crude futures decreased by 63 cents or 0.8 percent, closing at $82.66 per barrel, while US West Texas Intermediate (WTI) crude futures slipped by 92 cents or 1.2 percent, closing at $76.66 a barrel.



1. FIIs net BOUGHT Rs 3,671.56 cr worth shares on March 8

2. DIIs net SOLD Rs 937.80 cr worth shares on March 8



Thank you, have a great Trading Day ahead!!

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