S&P500 was down, the NASDAQ was seeing the brunt of the selling, down about 2.6 percent or so and the dollar was not responding at all to what was a perfect condition for dollar to rally but it is starting to respond, it has reversed some of the weakness from last week, back at close to 96, the market is also pricing in what the Fed will do. So for the month of March, market is pricing in 27 basis points (bps) in terms of rate hike and a total of 103 bps of rate hike through the course of 2022. Oil remains strong.

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Trade setup for Jan 19: More downside awaits Nifty50? Check out key market cues ahead of Wednesday’s session

Watch the accompanying video of CNBC-TV18’s Prashant Nair for more details.

First Published:Jan 19, 2022 8:47 AM IST