Morning comments Indian markets could open flat to mildly low | Make Money with Amit Bhawani 👨‍🏫💲

Morning comments

Indian markets could open flat to mildly lower, in line with mixed Asian markets today and sharply mixed US markets on Monday.…

U.S. stocks posted a mixed finish Monday, struggling for direction as investors weighed a Federal Reserve survey of loan officers for signs of a credit crunch, awaited inflation data due this week and tracked choppy trading in shares of regional banks.

Expected talks in Washington about the debt ceiling raised concerns, while U.S. inflation data later this week should add clarity on Federal Reserve monetary policy.

A small rise for the Nasdaq Composite, however, was enough to see the index meet widely used criteria marking an exit from a bear market.

The Fed’s quarterly survey on Monday shows that lending standards continued to tighten in the first quarter, as demand for commercial and industrial loans waned.

Yields in the US continued to rise on Monday, following Friday data that showed the U.S. created a stronger-than-expected 253,000 new jobs in April and wages rose a sharp 0.5%, while the unemployment rate unexpectedly fell to 3.4% from 3.5%.

Oil futures gained more than 2% on Monday, finding support after U.S. benchmark crude prices snapped a four-day losing streak at the end of last week following a stronger-than-expected April jobs report. A healthy U.S. jobs report on Friday gave a boost to market sentiment that had been beaten down in the past few weeks due to banking concerns,

Asia-Pacific markets traded mixed ahead of China’s April trade data release as well as U.S. inflation reports later this week.

Nifty rose sharply on May 08 with the highest gain in percent terms in the current fiscal. In the process it recovered in full the losses of May 05. At close, Nifty was up 1.08% or 195.4 points at 18264.4. Nifty shows a tendency to bounce up from small setbacks. 18346-18410 band could now offer resistance while 18180 could provide support. Large gains day in Nifty displays shift in trading towards largecaps at the cost of the broader markets, though the interest in small and midcaps remains alive.