Market Live Updates Today: Trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 182 points
Markets Live Updates
The BSE Sensex jumped 460 points to 58,926, while the Nifty50 rose 142 points to 17,606 and formed bullish candle which resembles Hammer kind of pattern on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 17,475.53, followed by 17,345.27. If the index moves up, the key resistance levels to watch out for are 17,687.73 and 17,769.67.
US Markets
Wall Street ended sharply lower on Thursday after US consumer prices data came in hotter than expected and subsequent comments from a Federal Reserve official raised fears the US central bank will hike rates aggressively to fight inflation.
The Dow Jones Industrial Average fell 1.47 percent to end at 35,241.59 points, while the S&P 500 lost 1.81 percent to 4,504.06. The Nasdaq Composite dropped 2.1 percent to 14,185.64. It was the seventh time in 2022 that the Nasdaq lost more than 2 percent in a session.
Asian Markets
Shares in Asia-Pacific fell in Friday morning trade, tracking losses seen overnight on Wall Street after the release of a hotter-than-expected US consumer inflation report pushed the 10-year Treasury yield past 2 percent.
Mainland Chinese stocks slipped in early trade as the Shanghai composite declined 0.52 percent, while the Shenzhen component shed 0.902 percent. Hong Kong's Hang Seng index traded 0.62 percent lower. South Korea's Kospi fell 0.78 percent, while the S&P/ASX 200 in Australia declined 0.77 percent. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.9 percent lower.
SGX Nifty
Trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 182 points. The Nifty futures were trading around 17,424 levels on the Singaporean exchange.
US consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, fueling financial markets speculation for a hefty 50 basis points interest rate hike from the Federal Reserve next month.
The consumer price index gained 0.6 percent last month after a similar increase in December. Food prices rose 0.9 percent, with the cost of food consumed at home increasing 1 percent. There were strong increases in the prices of cereals and bakery products, dairy, fruits and vegetables. Meat prices rose moderately. Electricity prices jumped 4.2 percent, offsetting cheaper gasoline and natural gas.
Oil prices eased early on Friday as hot US inflation fanned worries about aggressive interest rate hikes and as investors await the outcome of US-Iran talks that could lead to increased global crude supply.
Brent crude futures fell 40 cents, or 0.4 percent, to $91.01 a barrel at 0140 GMT, while US West Texas Intermediate crude declined 25 cents, or 0.3 percent, to $89.63 a barrel.
Shares of Zomato Ltd. fell nearly 8.5%
PB Fintech has 1.2% of equity (aggregating to 5.38 million shares) change hands in two large trades.
The S&P BSE Sensex shed nearly 650 points (over 1%) yo 58,284.12. The NSE Nifty 50 also fell 1% to 17,421.45.