22, July, 2025
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Market Highlights

Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

July 27, 2023

  • *Federal Reserve Interest Rate Decision*
  • Current: 5.5%
  • Expected: 5.5%
  • Previous: 5.25%
  • (As expected, Federal Reserve Hike Rates by 25 bps, policy comments and guidance would be important for outlook)
  • *FED'S POWELL:*
  • - THE FOMC IS TO TAKE A DATA-DEPENDENT APPROACH ON FUTURE HIKES.
  • - THERE IS CONTINUING SIGNS OF LABOR SUPPLY AND DEMAND COMING INTO BETTER BALANCE.
  • - GROWTH IN CONSUMER SPENDING HAS SLOWED FROM EARLIER IN THE YEAR.
  • - THE FULL EFFECTS OF TIGHTENING ARE YET TO BE FELT.
  • - PROCESS OF GETTING INFLATION TO 2% HAS A LONG WAY TO GO. INFLATION HAS MODERATED SOMEWHAT.
  • - THE HOUSING SECTOR PICKED UP BUT WELL BELOW 2022 LEVELS.
  • - WE HAVE BEEN SEEING EFFECTS OF INCREASES ON DEMAND IN MOST RATE-SENSTIVE SECTORS.
  • (LESS HAWKISH COMMENTS FROM FEDERAL CHAIRMAN, HOWEVER COMMENTS ARE STILL GOING ON)
  • *FED'S POWELL:*
  • - THE NORMALIZATION OF SUPPLY CONDITIONS PLAYING IMPORTANT ROLE IN GOODS DISINFLATION.
  • - INFLATION HAS PROVEN MORE RESILIENT THAN EXPECTED.
  • - POLICY NOT RESTRICTIVE ENOUGH FOR LONG ENOUGH.
  • - THIS IS NOT AN ENVIRONMENT WHERE THE FOMC SHOULD PROVIDE LOTS OF FORWARD GUIDANCE.
  • *Indian Equities Pre Open Update*
  • Indian equities expected to open with positive note amid supportive cues from global peers.
  • *Global Peers Update:* Asian markets were trading in green zone with recovery from Hong Kong listed Chinese Auto, Retail and Technology stocks. U.S. stock futures were trading in a mixed fashion following mixed trade among major averages AS the Federal Reserve's decision to hike a further 25 basis points, in line with market expectations.
  • *Sectors to Watch:* Financials, Metals, Pharma, Energy and Oil upstream companies likely to remain on focus during the day.
  • *GIFT NIFTY Price* 19856.0 *Adjusted Change:* +85.0 Points, Percent Change: +0.43%
  • *Technical Levels: Nifty Near Future*
  • *Support*: 19740.0/19692.0
  • *Resistance*: 19898.0.0/19932.0
  • *Technical Levels: Bank Nifty Near Future*
  • *Support*: 45925.0/45774.0
  • *Resistance*: 46262.0/46398.0
  • *Index Observation*
  • Nifty ended half a percent higher ahead of monthly derivative expiry as it continued to defend 19650 support on the downside all through this week. FOMC has hiked its base rate to a 22 year high which is likely to impact RBI decision on Repo Rate in the upcoming MPC meet due on 10th of August 2023. Interest rate sensitive stock could be in limelight for the next few days while volatility is likely to remain high in frontline names today due to expiry. Continuing with our cautious view for 20200 / 20700 unless a close below 19650 is not seen.
  • Bank Nifty as well closed in line with half a percent gains. A doji formation was seen at life time high on the index earlier this week. Historically such a formation has allowed a sideways correction on the index for nearly -2% pullback. Support on the same remains at 45400 unless that is broken, no major selling is expected on the index.
  • *WHAT HAPPENED OVERNIGHT*
  • - Dow +0.23%, SPX -0.02%, Nasdaq -0.12%
  • - FOMC hiked by 25 bps, statement was somewhat hawkish, Powell's tone gradually shifted to dovish/optimistic & markets responded
  • - 10y yield -2 bps to 3.87%
  • - DXY Index -0.22% to 101.10
  • - Oil -0.8% to $82.95
Panchkarma