MARKET LIVE: SGX Nifty dips 200 pts on Powell comments; NBFCs, ITC in focus

3 weeks ago 31

(Photo: Bloomberg)

Stock market LIVE updates: Domestic markets are eyeing a weak start on Friday as global mood turned sour overnight. The Dow Jones slipped 1.1 per cent, the S&P 500 shed 1.5 per cent and Nasdaq tumbled 2.1 per cent on Thursday after the US Federal Reserve chief, Jerome Powell, suggested that the central bank would move aggressively to curb inflation and a 50 basis points rate hike was seen on the table in May 2022.

Major markets in Asia on Friday morning were seen tracking the US losses. Japan's Nikkei plunged over 2 per cent. Kospi and Taiwan, too, were down a per cent each, while Straits Times declined 0.6 per cent.

SGx Nifty Futures, too, were down nearly 200 points at 17,199 at 7:55 AM, as against Nifty50's spot close of 17,393 on Thursday.

Meanwhile, Brent crude futures advanced 1.4 per cent to $108.33 a barrel.

Against this backdrop, global cues will guide the indices today. Domestically, market participants will  take note of the RBI MPC meeting minutes which are to be released after market hours on Friday.

Company results today (April 22)

Hindustan Zinc, Tata Metaliks, Aditya Birla Money, Sundram Fasteners, Tejas Networks, MMTC, Wendt (India), Bhakti Gems and Jewellery, Eiko Lifesciences, Jhandewalas Foods, Khaitan Chemicals & Fertilizers, Quest Capital Markets, RS Software India, and Sharad Fibres & Yarn Processors. companies are slated to report their March quarter results today.

ICICI Bank, Bhansali Engineering Polymers, and Indag Rubber will release quarterly earnings on Saturday, April 23.

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