Stock Market LIVE Updates: SGX Nifty signals a positive start for Dalal Street

Nifty futures on the Singapore Exchange traded 68 points or 0.36% higher at 18,984.50 around 7 am, signalling a positive start for Dalal Street.

Stocks in Asia extended gains following a sharp rally on Wall Street after Federal Reserve Chair Jerome Powell signaled a slowdown in the pace of rate hikes. Japanese equities rose, Australians shares headed for a seven-month high and US and Hong Kong futures climbed.

• Hang Seng futures rose 2.1%
• Japan’s Topix Index rose 0.6%
• Australia’s S&P/ASX 200 Index rose 0.9%

Wall Street ended sharply higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December.

• S&P 500 climbed 3.09%
• Nasdaq gained 4.41%
• Dow Jones Industrial Average rose 2.18%

The dollar tumbled to a three-month low versus the yen on Thursday as traders keyed on comments by Federal Reserve Chair Jerome Powell that interest rate hikes could be scaled back "as soon as December." The greenback was 0.48% lower at 137.39 yen in the Asian morning, after earlier dipping to 137.27 for the first time since Aug. 26.

India’s GDP growth slowed to 6.3% in July-September, from 13.5% a quarter ago, primarily due to a sharp decline in the manufacturing sector, which offset the growth in services sector.

Foreign portfolio investors (FPIs) on Wednesday net bought shares worth a whopping Rs 9,010 crore, provisional data showed. DIIs on the other hand, net sold shares to the tune of Rs 4,056 crore.

Bharat Heavy Electricals, Delta Corp, Indiabulls Housing Finance, and Punjab National Bank. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

The Indian unit ended at a two-week high on Wednesday amid persistent selling of dollars by FPIs. The rupee settled at 81.4225 a dollar, compared with 81.72 on Tuesday. The rupee has ended higher against the greenback for the 1st time in 10 months in November.

The Sensex closed at a record of 63,099.65, up 417.81 points, or 0.67%, from the previous close. It touched a new intraday high of 63,301.01 before paring some gains.

The Nifty advanced 140.30 points, or 0.75%, to a new record close of 18,758.35. it hit a new intraday high of 18,816.05, beating Tuesday's record of 18,678.10.

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