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Economic Times | 08 Mar, 2023 | 07:45AM IST
Stock Market Live Updates: SGX Nifty signals a negative start; Asian shares trade lower
Watch this space as we bring you LIVE updates of the day's proceedings from Dalal Street.
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Asian stocks tumble after hawkish Powell comments
Asian shares fell sharply on Wednesday, while the dollar advanced after hawkish comments from Federal Reserve Chair Jerome Powell raised the possibility of the U.S. central bank returning to large rate hikes to tackle sticky inflation. MSCI's broadest index of Asia-Pacific shares outside Japan was 1.45% lower, while Australia's S&P/ASX 200 index fell 0.70%. Japan's Nikkei rose 0.10%.
Oil stabilises as surprise US crude draw offsets rate hike jitters
Oil prices steadied in early Asian trade on Wednesday as industry data showed a draw in U.S. crude oil inventories, after the market tumbled in the previous session on fears more aggressive U.S. interest rate hikes would hit demand.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 117 points, or 0.66 per cent, lower at 17,736, signaling that Dalal Street was headed for a negative start on Wednesday.
Tech View: Nifty forms shooting star candle
Headline equity index Nifty on Monday formed a shooting star kind of candlestick pattern on the daily chart, suggesting a bearish reversal.
Tokyo shares stable despite Powell rate hike comment
Tokyo shares reversed early losses Wednesday morning, stabilising swiftly despite US Federal Reserve chair Jerome Powell hinting at fresh rate hikes to fight inflation.The benchmark Nikkei 225 index opened in the red but quickly emerged above water, trending up 0.16 percent or 45.13 points, to 28,354.29, while the broader Topix index rose 0.15 percent, or 3.13 points, to 2,048.11.
Wall Street falls more than 1% as Powell flags sharper rate hikes
U.S. stock indexes closed sharply lower on Tuesday after Federal Reserve Chair Jerome Powell told Congress the central bank will likely need to raise interest rates more than previously expected as it seeks to rein in stubbornly high inflation.
Rupee gains 5 paise to close at 81.92 on FII inflows
The rupee appreciated by 5 paise to close at 81.92 against the US dollar on Monday as a positive trend in domestic equities and fresh foreign fund inflows boosted investor sentiments.
Sensex, Nifty on Monday
Led by the banking, financial and IT stocks, the 30-share BSE benchmark Sensex rose 415 points or 0.69% to settle at 60,224. The broader NSE Nifty surged 117 points or 0.67% to end at 17,711.
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