Stock Market Live Updates: SGX Nifty signals a negative start; Asian shares trade lower

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Asian stocks stumble as Wall Street optimism peters out

Asian stocks slipped in volatile trade on Wednesday, failing to extend Wall Street’s rally as persistent worries about interest rates and inflation remained a key focus for investors, while the Japanese yen hit a fresh 24-year low against the dollar.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 33.5 points, or 0.21 per cent, lower at 15,589, signaling that Dalal Street was headed for a negative start on Wednesday.

Q4 results today

HMT, New Light Apparels and Wanbury are among companies which will announce their quarterly earnings today.

Tech View: Nifty50 forms bullish candle; further upside possible

Nifty50 on Tuesday climbed nearly 2 per cent and formed a bullish candle on the daily chart. But Tuesday’s gap up opening helped the index surpass the hurdle and has entered the resistance zone of 15,670-15,700. While analysts see chances of more upside ahead, any such upside will be capped in the 15,700-850 range, they said.

Oil prices slide as Biden pushes for US fuel cost cuts

Oil prices skidded in early trade on Wednesday amid a push by U.S. President Joe Biden to bring down soaring fuel costs, including pressure on major U.S. firms to help ease the pain for drivers during the country’s peak summer demand. U.S. West Texas Intermediate (WTI) crude futures fell $1.34, or 1,2%, to $108.18 a barrel at 0031 GMT, while Brent crude futures dropped $1.33, or 1.2%, to $113.32 a barrel.

Tokyo stocks open higher on US rebound

Tokyo stocks opened higher on Wednesday as investors took heart from a strong bounce back on Wall Street following last week’s rout over inflation fears. The benchmark Nikkei 225 index was up 0.67 percent, or 175.54 points, at 26,421.85 in early trade, while the broader Topix index was up 0.70 percent, or 13.07 points, at 1,869.27.

US stocks gain over 2% in broad rebound

Wall Street’s major indexes jumped over 2% on Tuesday as investors scooped up shares of megacap growth and energy companies after the stock market swooned last week on worries over a global economic downturn. The Dow Jones Industrial Average rose 641.47 points, or 2.15%, to 30,530.25, and the S&P 500 gained 89.95 points, or 2.45%, at 3,764.79. The Nasdaq Composite added 270.95 points, or 2.51%, at 11,069.30.

Rupee drops 15 paise to 78.13 against US dollar

Snapping its three-day rising streak, the rupee declined 15 paise to close at 78.13 against the US dollar on Tuesday as persistent foreign fund outflows and a jump in crude oil prices weighed on investor sentiment.

Sensex, Nifty on Tuesday

The BSE barometer Sensex rose 934.23 points or 1.81 per cent to close at the 52,532 level, while the Nifty50 closed above the 15,600 mark to post their best session in three weeks.

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