AUTO REFRESH ON SGX Nifty SGX Nifty was trading firm at 10,800 levels, up 85 points, or 0.8 per cent at 8:30 am Indian Standard Time.
Fluctuating crude oil prices, movement in rupee and minutes from the US Federal Open Market Committee’s (FOMC) meeting are likely to sway investor sentiment ahead of November-series futures and options contract expiry on Thursday. That apart, markets will look forward to the meeting between the US and Chinese presidents at the G20 summit in Buenos Aires this weekend.
Asian stocks rose tracking a Wall Street rally as dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards riskier assets. The Fed chair said on Wednesday that US policy rates were “just below” neutral, less than two months after saying rates were probably “a long way” from that point.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 per cent. Australian stocks gained 0.8 per cent and Japan's Nikkei climbed 0.9 per cent.
On Wall Street, the Dow Jones Industrial Average rose 617.7 points, or 2.5 per cent, to 25,366.43, the S&P 500 gained 61.61 points, or 2.30 per cent, to 2,743.78 and the Nasdaq Composite added 208.89 points, or 2.95 per cent, to 7,291.59.
Govt releases GDP back-series data
After junking the gross domestic product (GDP) numbers released by a government panel, the Central Statistics Office (CSO) on Wednesday came out with official back series data that shows economic growth was higher under Prime Minister Narendra Modi’s government than in the previous Congress-led United Progressive Alliance (UPA) regime.
SGX Nifty
SGX Nifty was trading firm at 10,812 levels, up 97 points, or 1 per cent at 8:05 am Indian Standard Time.
Oil Prices
Oil prices sank on Wednesday after US crude inventories rose for the 10th straight week to the highest in a year, adding to worries about a worldwide supply glut.
US crude futures were up 0.7 per cent at $50.65 per barrel, paring some losses after sliding 2.5 per cent the previous day
Rupee