Fed Chairman on Friday warned of more interest rate hikes

Market News

Fed Chairman on Friday warned of more interest rate hikes in a way that could cause ‘some pain’ to the US economy. Resultantly, Wall Street saw its worst day in months as Dow Jones and Nasdaq plunged 3-4%. 

On account of weak global cues, we expect a sharp correction in Nifty today; key support level for Nifty is placed at 17100. SGX Nifty indicates a huge gap-down opening. All eyes on Reliance 45th AGM today.