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September 22, 2022 / 07:52 AM IST

Crude Updates:

Oil prices edged lower in early Asian trade on Thursday after the U.S. Federal Reserve raised interest rates significantly to curb inflation, with fears for the global economy casting a shadow over future fuel demand.

Brent crude futures fell 16 cents, or 0.2 percent, to $89.67 per barrel by 0013 GMT, while US West Texas Intermediate (WTI) crude dropped 15 cents to $82.79 per barrel.

September 22, 2022 / 07:45 AM IST

Asian Markets trade lower

September 22, 2022 / 07:42 AM IST

SGX Nifty: Trends on SGX Nifty indicate a negative start for the broader index in India, with a loss of 140 points or 0.79 percent. The Nifty futures were trading around 17,576 level on the Singaporean Exchange at 7:40 IST.

September 22, 2022 / 07:41 AM IST

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Stock Market News: Trends in the SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 121 points

September 22, 2022 / 07:39 AM IST

Dollar Updates:

The dollar surged to a fresh two-decade high against major peers and stocks fell on Thursday after the Federal Reserve raised U.S. interest rates and forecast more hikes ahead than investors had expected.

The euro sank to a 20-year low of $0.9810 after Russia ordered the mobilisation of reserve troops in an escalation of the war in Ukraine.

September 22, 2022 / 07:37 AM IST

Wall Street slumps

Wall Street’s main indexes see-sawed before slumping in the final 30 minutes of trading to end Wednesday lower, as investors digested another supersized Federal Reserve hike and its commitment to keep up increases into 2023 to fight inflation.

All three benchmarks finished more than 1.7% down, with the Dow (.DJI) posting its lowest close since June 17, with the Nasdaq (.IXIC) and S&P 500 (.SPX), respectively, at their lowest point since July 1, and June 30.

At the end of its two-day meeting, the Fed lifted its policy rate by 75 basis points for the third time to a 3.00-3.25% range. Most market participants had expected such an increase, with only a 21% chance of a 100 bps rate hike seen prior to the announcement.

The Dow Jones Industrial Average fell 522.45 points, or 1.7%, to 30,183.78, the S&P 500 lost 66 points, or 1.71%, to 3,789.93 and the Nasdaq Composite dropped 204.86 points, or 1.79%, to 11,220.19.

September 22, 2022 / 07:35 AM IST

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Based on the open interest future percentage, there were 76 stocks including Bank Nifty, TVS Motor Company, Astral, India Cements, and Escorts, in which a long unwinding was seen.

September 22, 2022 / 07:33 AM IST

Fed delivers third-straight big hike, sees more increases ahead

Federal Reserve officials raised interest rates by 75 basis points for the third consecutive time and forecast they would reach 4.6% in 2023, stepping up their fight to curb inflation that’s persisted near the highest levels since the 1980s.

In a statement Wednesday following a two-day meeting in Washington, the Federal Open Market Committee repeated that it “is highly attentive to inflation risks.” The central bank also reiterated it “anticipates that ongoing increases in the target range will be appropriate,” and “is strongly committed to returning inflation to its 2% objective.” Read More

September 22, 2022 / 07:31 AM IST

Market on Wednesday:

The Indian equity market snapped a two-day winning streak and ended lower in the highly volatile session on September 21 as market participants look ahead to the US Fed policy meeting outcome on interest rates later tonight.

At Close, the Sensex was down 262.96 points or 0.44% at 59,456.78, and the Nifty was down 98 points or 0.55% at 17,718.30.

Shree Cements, Adani Ports, IndusInd Bank, Power Grid Corp and UltraTech Cement were among the major Nifty losers.

The gainers included Britannia Industries, ITC, HUL, Apollo Hospitals and Coal India.

On the sectoral front, Nifty FMCG index rose 1 percent. On the other hand, metal, pharma, Information Technology, energy bank and auto indices fell 0.5-2 percent.

Broader indices – BSE midcap and smallcap – fell 0.6 percent each.

September 22, 2022 / 07:29 AM IST

Hello Readers. Kickstart your day with Buffett’s famous quote: 

September 22, 2022 / 07:25 AM IST

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