Stock Futures

SGX NIFTY DOWN 350 POINTS

DOW JONES FUTURES DOWN 400 POINTS

FUND FLOWS

CASH Market:

FIIs: - 3975 cr

DIIs: + 2832 cr

FIIs in F&O Market:

Index Future: - 1730 Cr

Index Options: + 6120 Cr

Stock Futures: - 3460 Cr

GLOBAL CUES: DARKEST BEFORE DAWN?

US markets slide as inflation came much higher at 40-year high rising fears that Fed may hike interest rates by at-least 50 bps in June & ECB hike this week as well

US 10-year yield surged to 3.182% (52-week high 3.203), Dollar Index hit high of 104.54 (52-week high was 105)

Did You Know: US 10-Year Treasury bond lost 12.8% in 2022; worst ever. 2nd worst fall was in 2009 when US 10-year bonds lost 11% & equity markets made bottom. Important that, 10-year bond gained in 2010, 2011, 2012 post brutal sell-off in 2009.  3rd worst fall was in 2013 when US 10-year yield fell 9.1% but gained in the next 4 years (2014, 2015, 2016, 2017)

Dow Jones lost over 880 points or 2.73% last night, S&P lost 2.91%, NASDAQ lost 3.52%

Dow fell 4.58% for its 10th down week in the past 11 weeks

NASDAQ 100 is 4% away from 200-week EMA (11,394) which is considered by many as an important level to watch

Some good news:

Over 50,000 people came back to Ukraine by train within a month

Asian markets sharply lower; Nikkei down 2.8%, Hang Seng down 3%, Kospi down 2.8%, Australia down 1.2%, China down 1%

Commodities: Crude fell 1.5%, Iron Ore down 2%, Natura Gas down 2%, Palm Oil down 5%, Sugar down 2%, Tin down 4%, Nickel down 2.7%, Aluminium down 3%, Lead down 2.5%

BUSY WEEK

Wednesday: US Fed decision

Wednesday: IPL media rights decision

Thursday: BoE meeting

Friday: BoJ meeting