Live Stock Market Updates: SGX Nifty Reports Positive Start; Asian stocks are trading higher
!1 new updateClick here for the latest updates
Asian stocks are trading higher
Asian stocks made cautious gains on Thursday as investors tipped the pace of U.S. rate hikes to slow, lowering bond yields and restraining the dollar. As expected, the US Federal Reserve raised rates 75 basis points to 2.25-2.5% but noted some softening in recent data.
Quarterly results today
Bajaj Finserv, Nestle India, SBI Life Insurance Company, Vedanta, SBI Cards, Shree Cement, Dr. Reddy’s Laboratories, Punjab National Bank, Mahindra & Mahindra Financial Services and Jubilant FoodWorks are among the companies to announce their quarterly results today.
SGX Nifty reports positive start
Nifty futures on the Singapore Stock Exchange traded 99 points, or 0.59%, at 16,782.50, signaling Dalal Street was heading for a positive start on Thursday.
Tech View: Nifty50 forms bullish candle and may test recent high
The bullish candle completely engulfed the previous negative candle, signaling the formation of a Bullish Piercing Line candle pattern, said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
Oil prices rise slightly due to low inventories and strong demand for gasoline in the United States
Oil prices rose slightly on Thursday, extending gains from the previous session, supported by falling crude inventories and rising gasoline demand in the United States. Brent futures for September rose 40 cents, or 0.4%, to $107.02 a barrel as of 0010 GMT, after gaining $2.22 on Wednesday.
Tokyo stocks open higher, extending US gains
Shares in Tokyo opened higher on Thursday, extending rallies on Wall Street after the US Federal Reserve announced a sharp hike in interest rates. The benchmark Nikkei 225 rose 0.75%, or 209.14 points, to 27,924.89 in early trading, while the broader Topix index was up 0.42%, or 8, 24 points, at 1,953.99.
US stocks rally, dollar drops on bets for slower rate hike
U.S. stocks rose sharply and the dollar lost ground as investors bet the Federal Reserve would slow interest rate hikes after it announced a rate hike in line with expectations on Wednesday.
The rupee slides to 79.91 against the US dollar
The rupee fell 13 paise to close at 79.91 against the US dollar on Wednesday on investor risk aversion sentiment ahead of the outcome of the US Federal Reserve meeting.
Sensex, Nifty on Wednesday
The 30-pack of Sensex shares advanced 548 points or nearly 1% to close at 55,816. Its broader counterpart, Nifty50, added 158 points to close above the 16,600 mark.