MARKET LIVE: SGX Nifty signals firm start ahead of US Fed's policy action

1 month ago 32

A positive start is on cards for the domestic equity markets amid mixed global cues and rising crude oil prices. At 8:00 am, the SGX Nifty quoted at 18,228 levels, up over 50-odd points.

Investors will also watch out the US Federal Reserve's policy action on Wednesday after market hours as they widely expect the global central bank to hike interest rates by 75 basis points.

Besides, the quarterly earnings season will continue to gather centre-stage as companies like  Adani Transmission, P&G Health & Hygiene, Dalmia Bharat, M&M Financial Services will report Q2FY23 numbers today.

Globally, the US markets were choppy overnight as all the three major indices dropped in negative territory, with Dow Jones, the S&P 500, and NASDAQ Composite slipping up to 0.8 per cent.

Markets in Asia-Pacific, on the other hand, were mixed as Nikkei 225, Topix, Kospi, and the S&P 200 indices climbed up to 0.4 per cent. Mainland China and Hong Kong markets, however, inched lower in trade.

In the commodities market, prices of Brent Crude rose 0.9 per cent to $95 per barrel as a drop in US crude stockpiles suggested strong demand. WTI Crude, meanwhile, was up 1 per cent to $89 per barrel.


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