MARKET LIVE: SGX Nifty indicates at a positive start, up 30 points

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Markets are likely to open on a positive note buoyed by healthy foreign inflows and easing commodity prices. As of 7:45 AM, the SGX Nifty Futures quoted 17,375 levels, up 30 odd-points on the Nifty50.

The Reserve Bank of India (RBI) will commence their 3-day monetary policy meeting (MPC) on Wednesday, to mull rate hike trajectory. Experts peg the rate hike to be in the range of 30 to 50 basis points.

Q1 Results today Companies like Vodafone Idea, Interglobe Aviation, Adani Transmission, and Adani Power will report their June quarter results (Q1FY23). 

Revision in windfall tax Investors will turn their focus to crude producers like Vedanta and ONGC after the government increased windfall tax on domestically produced crude to Rs 17,750 a tonne. They also lowered export tax on diesel and aviation turbine fuel to Rs 5 per litre and Rs 4 per litre, respectively. READ MORE

Meanwhile, globally, the US markets saw a sharp fall on Tuesday amid escalated tensions with China and hawkish Fed commentary. Dow Jones slipped 1.2 per cent, while the S&P 500 dropped 0.6 per cent and NASDAQ Composite shed 0.1 per cent.

However, major markets in Asia-Pacific traded mixed on Wednesday morning. While Japan's Nikkei 225 rose 0.3 per cent, South Korea's Kospi declined 0.2 per cent.

That apart, prices of crude oil were steady below $100-mark. Brent Crude hovered around $99 per barrel, whereas WTI Crude was at $93 per barrel.


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