Pre-Market Action: SGX Nifty Reports Positive Start; Tokyo stocks open lower
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Fourth quarter results today
Setco Automotive is among the companies that will announce their quarterly results today.
SGX Nifty reports positive start
Nifty futures on the Singapore Stock Exchange traded 106 points, or 0.67%, at 15,872, signaling Dalal Street was heading for a positive start on Wednesday.
Tech View: Nifty50 Sees Sell High; consolidation can continue
Nifty50 on Tuesday saw selling pressure as soon as it broke through the 16,000 mark. The index eroded entire intraday gains to eventually form a bearish candle on the daily chart, with a long upper wick, reflecting weakness at the upper. Analysts said the index’s ongoing consolidation could continue, with levels of 15,650-750 likely to offer some support for the index.
Oil recovers after strong sell-off as supply issues return
Crude oil futures rose nearly 3% on Wednesday as investors retreated from the previous session’s sharp rout, again focusing on supply issues even as concerns over a recession were going up. Brent crude futures rose $2.82, or 2.7%, to hit $105.59 a barrel at 12:22 GMT, after plunging 9.5% on Tuesday, the biggest daily decline since March .
Tokyo stocks open lower as recession fears emerge
Shares in Tokyo opened lower on Wednesday after a mixed close on Wall Street as lingering recession fears sent European stock markets into a rout. The benchmark Nikkei 225 was down 0.79%, or 209.58 points, at 26,213.89 in early trading, while the broader Topix index was down 0.69%, or 12, 94 points, at 1,866.18.
S&P 500 and Nasdaq end higher as investors look to economic path
The S&P 500 ended slightly higher on Tuesday as investors remained focused on the growth trajectory of the U.S. economy, and the tech-heavy Nasdaq closed higher as the Dow Jones slipped. The Dow Jones Industrial Average fell 129.44 points, or 0.42%, to 30,967.82, the S&P 500 gained 6.06 points, or 0.16%, to 3,831.39 and the Nasdaq Composite added 194.39 points, or 1.75%, to 11,322.24.
The rupee falls 38 paise to 79.33 against the US dollar
The rupee fell 38 paise to close at an all-time low of 79.33 against the US currency on Tuesday due to a stronger greenback overseas and continued outflows of foreign funds.
Sensex, Nifty on Tuesday
Frontline indices erased more than 1% gains and settled with minor cuts, with the 30-pack Sensex shares standing 100 points lower at 53,134. Its broader counterpart, Nifty50, ended the session near the 15,800 mark.