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Economic Times | 29 Mar, 2023 | 08:43AM 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 stocks rally as banking anxiety eases; Alibaba surges
Asian shares rose sharply on Wednesday while the dollar was on the defensive as easing concerns over the banking sector revived risk appetite, while Alibaba's stock soared on the internet behemoth's plans to split into six units.MSCI's broadest index of Asia-Pacific shares outside Japan was 0.82% higher, while Japan's Nikkei advanced 0.49%.
Tokyo shares open higher despite US losses
Tokyo shares opened marginally higher Wednesday despite losses on Wall Street, as fears of a banking crisis ebbed after weeks of turmoil.The benchmark Nikkei 225 index edged up 0.08 percent, or 21.46 points, to 27,539.71, while the broader Topix index rose 0.15 percent, or 3.00 points, to 1,969.67.
SGX Nifty signals a muted start
Nifty futures on the Singapore Exchange traded 9.5 points, or 0.06 per cent, higher at 17,087.50, signaling that Dalal Street was headed for muted start on Wednesday.
Tech View: Bearish-to-neutral view on Street ahead of expiry
Nifty formed a bearish candle on the daily charts with bounces being sold but supports are intact at lower levels. Now, till it holds below 17,017 zones, weakness could be seen towards 16,850 and 16,800 zones, while on the upside, hurdles are placed at 17,071 and 17,171 levels, said Chandan Taparia of Motilal Oswal.
Wall Street falls while bond yields rise with gold
Wall Street's major indexes closed lower on Tuesday while Treasury yields and gold advanced as investors worried that the U.S. Federal Reserve would keep interest rates higher for longer as fears of further banking sector failures faded.
Rupee gains 15 paise against US dollar
The rupee appreciated 15 paise to settle at 82.16 against the US dollar on Tuesday supported by a weak American currency in the overseas market and fresh foreign fund inflows.
Oil gains for 3rd day on Kurdish supply concerns, easing banking fears
Crude prices rose for a third day in early Asian trade on Wednesday as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supply and market sentiment improved as fears of a banking crisis eased.Brent crude futures rose 42 cents, or 0.5%, to $79.07 a barrel at 0046 GMT. West Texas Intermediate U.S. crude climbed 59 cents, or 0.8%, to $73.79 a barrel.
Sensex, Nifty on Tuesday
The 30-share BSE benchmark Sensex declined 40 points or 0.07% to settle at 57,613. The broader NSE Nifty dropped 34 points or 0.20% to end at 16,952.
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