Pre-Market Action: SGX Nifty Reports Negative Start; Tokyo stocks open lower
!1 new updateClick here for the latest updates
Oil prices catch their breath after three days of rally
Oil prices fell on Wednesday after rising in the previous three sessions, but losses were limited as global supply tightening will continue as big producers such as Saudi Arabia have little room to increase their production. U.S. West Texas Intermediate (WTI) crude futures fell 44 cents, or 0.4%, to $111.32 a barrel at 0150 GMT, giving up earlier gains.
SGX Nifty reports a negative start
Nifty futures on the Singapore Stock Exchange traded 160.5 points, or 1.01%, at 15,681.50, signaling Dalal Street was heading for an early shift on Wednesday.
Fourth quarter results today
Venus Pipes & Tubes and Precision Containers are among the companies to announce their quarterly results today.
Tech View: Level 16,000 revisit likely for Nifty
Nifty50 on Tuesday ended slightly higher and formed a small bullish candle on the daily chart. Analysts said a positive close after a gap start is positive. They see the index testing the 16,000 level in the coming days. Support for the index remains at 15,700, they said.
Tokyo stocks open lower, extending US slide on weak data
Tokyo stocks opened lower on Wednesday, extending Wall Street’s falls as a dismal U.S. consumer confidence report offset positive news about China’s decision to ease Covid-19 restrictions. The benchmark Nikkei 225 was down 0.67%, or 235.88 points, at 26,813.59 in early trading, while the broader Topix index slipped 0.79%, or 14, 98 points, at 1,892.40.
Wall St slides as consumer pessimism stokes growth fears
Wall Street closed sharply lower in a broad sell-off on Tuesday as dire consumer confidence data dampened investor optimism and stoked worries about the recession and impending earnings season.
The rupee falls from 48 paise to 78.85 against the US dollar
The rupee plunged 48 paise to close at a record low of 78.85 against the US dollar on Tuesday, weighed down by continued foreign capital outflows and a surge in crude oil prices. In the interbank foreign exchange market, the rupiah opened lower at 78.53 against the greenback and eventually stabilized at 78.85, down 48 paise from its previous close.
Sensex, Nifty on Tuesday
In a lackluster trading day, the 30-pack of Sensex shares posted gains in the past hour to settle 16.17 points higher at 53,177.45. Its larger counterpart, Nifty50, recovered nearly 140 points from the day’s low and settled 18.15 points higher at the 15,850 mark.