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Economic Times | 11 Jan, 2023 | 07:51AM IST
Stock Market Live Updates: SGX Nifty signals a muted start; Asian shares trade higher
Watch this space as we bring you LIVE updates of the day's proceedings from Dalal Street.
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Asian shares up, dollar steady, focus on U.S. CPI data
Asian equities edged higher on Wednesday, while the dollar steadied as investors braced for U.S. inflation data that will influence the Federal Reserve's interest rate policy. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.28% higher, while Japan's Nikkei gained 1%. Australia's S&P/ASX 200 index rose 0.80%.
Oil slips as U.S. crude, fuel inventories reignite demand concerns
Oil prices fell on Wednesday, erasing the previous session's gains, after industry data showed an unexpected build in crude and fuel inventories in the United States, the world's biggest oil user, which reignited worries about fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 59 cents, or 0.8%, to $74.53 a barrel at 0134 GMT, while Brent crude futures were down 62 cents, or 0.8%, at $79.48 a barrel.
Quarterly earnings today
10 companies will release earnings for the quarter ended December. 5Paisa Capital among the ones to report numbers.
SGX Nifty signals a muted start
Nifty futures on the Singapore Exchange traded 3.5 points, or 0.02 per cent, lower at 17,983, signaling that Dalal Street was headed for a muted start on Wednesday.
Tech View: Nifty forms bearish engulfing candle
Pointing at more pain in the offing, Nifty on Tuesday formed a bearish engulfing pattern on the daily chart. Analysts pointed out that the index has been hovering within the bands of 17,750 and 18,250, and a decisive breakout on either side may trigger a strong directional move.
Wall Street ends higher, Powell comments avoid rate policy
U.S. stocks ended solidly higher on Tuesday, led by a 1% gain in the Nasdaq, on relief that Federal Reserve Chair Jerome Powell refrained in a speech from commenting on rate policy.
Rupee gains 61 paise to 81.74 against US dollar
The rupee appreciated 61 paise -- the biggest single-day gain in nearly two months -- to close at 81.74 against the US dollar on Tuesday on the expectation of inflows in the bond segment.
Sensex, Nifty on Tuesday
Under pressure from likely selling by FIIs, the domestic equity market on Tuesday lost most of Monday's gains, with the Sensex ended with a loss of 632 points and Nifty ending below the 18,000 mark.
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