2023-05-18 06:34:42
Morning commentsIndian markets could open mildly higher, in line with mostly higher Asian markets today and sharply higher US markets on Wednesday.…U.S. stocks finished sharply higher on Wednesday with the Nasdaq Composite logging its highest close since August 2022, buoyed by optimism about a resolution of the debt-ceiling debate in Congress after President Biden expressed confidence about achieving a bipartisan deal, while a bounce in regional bank shares also provided a boost for the major indexes.
Biden’s remarks underscore earlier comments from House Speaker Kevin McCarthy, who told CNBC in an interview earlier Wednesday that he doesn’t think the U.S. will default on its debt.
Regional bank Western Alliance reported that customer deposits have grown by more than $2 billion throughout the current quarter.
Japan's export growth hit its weakest pace in more than two years in April as China-bound shipments slumped amid lingering worries about faltering global economic demand. Exports rose 2.6% in April from a year earlier, Ministry of Finance data showed on Thursday, slower than a 3.0% increase expected by economists in a Reuters poll and a 4.3% rise in March. That marked the weakest gain since February 2021 when exports declined 4.5%.
Asian equities advanced after US stocks rallied on optimism over debt-ceiling talks, allowing investors to refocus on the path for interest rates and the health of the banking system.
Nifty fell for the second consecutive session on May 17. At close, Nifty closed 0.57% or 104.75 points lower at 18181.75. Nifty continued to fall for the second consecutive day and showed a feeble recovery towards the end of session. 18055 is a crucial support, a breach of which could confirm the formation of intermediate top at recent high of 18459. 18344 could be a resistance for the Nifty in the near term.
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